China overtakes Japan as world's top exporter of new cars - 1.07 million vehicles in first quarter of 2023 - paultan.org

China overtakes Japan as world’s top exporter of new cars – 1.07 million vehicles in first quarter of 2023

, China has managed to overtake Japan as the world’s top exporter of new cars in the first quarter of 2023. Referring to data from the China Association of Automobile Manufacturers , exports grew by 58% from January to March to hit 1.07 million units.

By comparison, the Japan Automobile Manufacturers Association revealed Japan exported 950,000 vehicles during the same period, which represents a 6% year-on-year increase. China is also the world’s largest market for new vehicles after surpassing the United States in 2009. The Chinese government has also been pushing to expand its domestic electric vehicle industry through incentives. This initiative aided China’s rise as an automotive exporting power of electrified cars, and in Q1 2023, exports of new energy vehicles , which include EVs, climbed 93% YoY to 380,000 units.

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