China’s full-year automobile exports this year are expected to exceedJapanBecoming the world’s largest automobile exporter, primarily due toRussiaWith market share expansion in Mexico, andElectric CarThanks to its increasing popularity.
Nikkei reported that preliminary data from the China Association of Automobile Manufacturers (CAAM) showed that China’s automobile exports from January to November this year increased by 58% to 4.41 million units from the same period last year, surpassing Japan in the same period. Automobile exports of Rs. Japan exported 3.99 million vehicles from January to November, and the annual export volume is expected to be about 4.3 million vehicles.
The last time Japan fell from the top spot was in 2016, when it was ousted by Germany. China has attempted to become a major auto exporter, using the global shift toward electric vehicles as one of the ways to achieve its goal.
However, the Russian market has also helped, as Chinese automakers have benefited from the withdrawal of Japanese and Western rivals from the Russian market. China exported 730,000 cars to Russia from January to October, seven times more than a year earlier. Chery Automobile and Great Wall Motors have exported gasoline vehicles to Russia, including mid-size and large SUVs.
China’s second-biggest market this year is Mexico, where exports rose 71% to 330,000 vehicles. Chinese automakers have sought to establish a local customer base as a basis for eventually entering the US and Canadian markets. Chery, SAIC Motor and Anhui Jianghuai Automobile all increased exports to Mexico.
According to data from the China Association of Automobile Manufacturers, China’s exports of electric vehicles and other new energy vehicles also increased by 77% from January to October, to 1.43 million units, accounting for 34% of total automobile exports during the same period.
Most of China’s exported energy vehicles are exported to Europe and Southeast Asia operated by Tesla and BYD, which has a super factory in Shanghai. BYD’s Atto 3 SUV sells for about 38,000 euros (about US$42,000) in Europe, which is lower than the average price range of local electric vehicles of 50,000 to 60,000 euros.
Chinese automakers are also expanding their exports to Southeast Asia, seizing territory from Japanese automakers. Japanese automakers are gradually turning to electric vehicles, which has led to a decline in the market. The number of new energy vehicles exported by China to other Asian markets from January to October was close to the level exported to Europe, and its exports to Thailand doubled, surpassing exports to the British market.
Tomoyuki Suzuki, managing director of US consultancy AlixPartners, pointed out that a major factor in the export competitiveness of Chinese automakers is state subsidies.
car