China has overtaken Japan to become the world's largest vehicle exporter. According to data released by China's General Administration of Customs (GAC), China's car exports surged by an impressive 58.3 percent in the first quarter of 2023, reaching a total of 1.07 million vehicles. This remarkable growth has propelled China to the forefront of the global automotive export market.
The rise of China as a major player in the automotive export industry is a testament to the country's robust manufacturing capabilities and its ability to meet the demand for vehicles worldwide. The total export value of vehicles from January to April 2023 in China stood at a staggering 7.67 trillion yuan, representing a solid 10.6 percent year-on-year increase. This demonstrates the increasing importance of car exports in China's foreign trade structure.
A significant contributor to China's vehicle export success is the Waigaoqiao Port in Shanghai, which accounted for 40 percent of China's total car exports in the first quarter of 2023. The port saw an impressive 231,000 vehicles being shipped to various regions around the world, including Europe, Southeast Asia, South America, and Africa. This highlights China's ability to cater to diverse markets and meet the needs of international customers.
The month of April proved to be particularly fruitful for China's vehicle exports, with a remarkable surge of 2.7 times compared to the same period in 2022. According to the China Association of Automobile Manufacturers, this surge was supported by a strong production capacity of 2.13 million cars in the month. Furthermore, exports of new-energy vehicles (NEVs) played a significant role, accounting for the majority of vehicles shipped abroad. In April 2023 alone, China exported 100,000 NEVs, marking an astounding 8.4 times increase compared to the same month in 2022.
China's ascendancy as the world's largest vehicle exporter builds upon its achievement in 2022 when it surpassed Germany to become the second-largest car exporter globally. In 2022, China exported a staggering 3.22 million vehicles, representing a remarkable year-on-year increase of 56.8 percent, while Germany exported 2.61 million vehicles, according to GAC data.
Experts attribute China's success in the global automotive market to several factors. Xu Haidong, deputy general engineer of the China Association of Automobile Manufacturers (CAAM), emphasizes China's strict quality control measures, sophisticated industrial chain, and advanced maintenance services as key drivers of its competitiveness in the global market.
As China solidifies its position as the world's largest vehicle exporter, it marks a significant shift in the balance of power within the global automotive industry. With its manufacturing prowess, continued technological advancements, and a growing focus on new-energy vehicles, China is poised to shape the future of the automotive market on a global scale.