China overtook Germany to become the world’s second-largest car exporter.
Japan is the No. 1 exporter, and Japan exported 3.2 million cars between January and November last year, according to automobile industry analyst Marklines. Japan exported 3.82 million units in 2021.According to the China Automotive Industry Association (CAAM), China exported 3.11 million cars last year, an increase of 54.4% from 2021.
The increase in exports was attributed to sales of electric vehicles. Last year, China exported 679,000 electric vehicles, up 120% from 2021.
China’s automobile exports accounted for 11.5% of total automobile production (27 million units) last year. According to the German Automobile Industry Association, Germany’s automobile exports last year totaled 2.61 million units.China became the world’s largest automobile market in 2009. Foreign carmakers such as Volkswagen, General Motors, and BMW have dominated the market for a long time, but native brands such as BYD and Gely are growing rapidly and are also speeding up their entry into overseas markets. Last month, Zhongxin Securities predicted that China’s auto exports will reach 5.5 million units by 2030, of which 2.5 million will be electric vehicles.
UBS analyst Paul Gung said Chinese electric vehicles are ahead of Korean and Japanese competitors to tap the Southeast Asian market and are planning to establish production bases there. Villadi overtook Tesla in the second half of last year to become the world’s largest electric vehicle producer. It launched its first car in India in October last year and is selling it in several countries, including Norway, Singapore and Brazil.
