China surpasses Japan as worldโs largest car exporter in 2023

China has seized the title of the worldโs largest car exporter in 2023, according to recent industry figures. This marks a significant shift, seeing Japanโs reign topple for the first time since Germanyโs lead in 2016.
This new data, released yesterday, January 31, by a Japanese trade organisation, indicates a 16% increase in Japanโs car exports from the previous year, reaching 4.42 million vehicles. However, this was surpassed by Chinaโs remarkable 58% rise to 4.91 million vehicles.
The surge in Chinaโs automobile exports can largely be attributed to the burgeoning demand for all-electric vehicles (EVs) globally, aimed at reducing carbon emissions. Chinese automakers such as BYD (Build Your Dreams) Co. have significantly increased their exports, bolstered by substantial support from the Chinese government, reported Bangkok Post.
Furthermore, Chinaโs exports of petrol-driven cars to Russia experienced a boost after the withdrawal of Japanese, United States, and European automakers from the market due to the ongoing conflict in Ukraine.
On the other hand, Japanโs car exports showed growth for the first time in two years, however, they still fell short of the pre-Covid-pandemic figure of 4.82 million vehicles in 2019.
Japanese automakers have been reassessing their production strategies in recent years. Companies like Toyota Motor Corp. have been shifting their focus away from petrol-powered cars, instead opting to increase sales of petrol-electric hybrids, which often boast higher mileage than pure EVs.
However, holding onto the top spot could be a challenge for China, as recent trends suggest a slowdown in global EV sales due to high prices and a scarcity of charging stations, according to industry experts.
In related news, in a move set to ignite Thailandโs automotive industry, four major Japanese car giants are gearing up to pump a staggering 150 billion baht into manufacturing electric vehicles in the country.
This collaboration underscores Thailandโs ascent as a powerhouse in the automotive world and spotlights the governmentโs triumphant push towards an electrifying future.