China overtakes Japan as top exporter of cars

JUST released vehicle export figures for the first five months of 2023 indicated that China would be the world's largest vehicle exporter in 2023.

The country exported 325,000 passenger vehicles and 63,000 commercial vehicles for a total of 389,000 vehicles in May, a 58.7-percent year-on-year surge. For the first five months, nearly 1.76 million vehicles were exported, soaring 81.5 percent year on year, and almost 30 percent of the vehicles exported were electric vehicles. China is projected to export 4.5 million vehicles this year, surpassing the erstwhile world vehicle exporting leader, Japan, with 4 million. Moreover, the sales of electric vehicles are surging worldwide, and the Chinese export momentum will likely put the Chinese dominance on vehicle exports for some time.