China outperforms Japan as the world’s top auto exporter
China’s rise as the world’s top auto exporter in the first quarter of a given year, surpassing Japan, can be attributed to several factors, including increased demand for electric vehicles (EVs) and higher deliveries to Russia.
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During the January-March period, China’s automobile exports experienced a significant surge of 58% compared to the previous year, reaching 1.07 million units, as the China Association of Automobile Manufacturers reported.
In contrast, Japan’s vehicle exports for the same quarter totalled 950,000 units, indicating a more modest increase of 6% year-on-year, according to the Japan Automobile Manufacturers Association.
Chinese auto exports are expected to continue growing throughout the current quarter, with an industry group for passenger vehicles projecting a 30% increase for the entire calendar year, amounting to 4 million units. The growth in China’s auto exports can be primarily attributed to the country’s emphasis on electric vehicles.
In 2009, China had already surpassed the United States as the largest market for new cars. The Chinese government played a crucial role in supporting the development of the domestic EV industry by providing purchasing and tax incentives and investing in charging infrastructure to promote the widespread adoption of electric vehicles.
The transition to electric vehicles has been a critical driving force behind China’s emergence as a global auto-exporting powerhouse. In the first quarter, exports of new energy vehicles, including electric cars, witnessed a remarkable increase of 93% year-on-year, reaching 380,000 units. New energy vehicles accounted for approximately 40% of China’s overall auto exports during that period.
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In terms of individual companies, Tesla’s China arm took the lead as the top exporter of new energy vehicles, exporting 90,000 units, as reported by Chinese media. Other notable players in this segment were SAIC Motor’s passenger vehicle unit, which shipped 50,000 units, and BYD, exporting 30,000 vehicles. These figures highlight Chinese automakers’ growing influence and competitiveness in the global EV market.
Source: Asia. Nikkei