China has become the world’s largest auto exporter thanks to Russia – Kommersant

China Passenger Car Manufacturers Association (CPCA) reportedthat last year China became the world’s largest exporter of automobiles for the first time, surpassing Japan. Exports of passenger cars manufactured in China amounted to a record 3.83 million units, up 62% from a year earlier. According to Japan’s customs service, in the first 11 months of the year, exports of new cars from this country amounted to 3.5 million units. Total auto exports from China in 2023 amounted to 5.26 million cars – approximately $102 billion. While total auto exports from Japan, according to experts, will reach 4.3 million cars in 2023.

According to The Wall Street Journal (WSJ), China was helped to become the world’s largest exporter of cars by Russia, which significantly increased the import of Chinese cars against the backdrop of the armed conflict in Ukraine, the departure of many Western automakers from the country and sanctions. It is reported that if in 2022 about 160 thousand cars from China were sold in Russia, then in 2023 this figure “grew at least five times.”

Exports of Chinese cars have expanded to other countries, such as Mexico, thanks to lower prices compared to many American, European and Japanese models. China has also significantly increased sales of its electric vehicles, which at the end of last year allowed the local company BYD get around American Tesla in terms of sales of electric vehicles.

Evgeny Khvostik