1. China has overtaken Japan as the top global car exporter, shipping 4.91 million vehicles.
2. Despite a 16% increase in Japan’s shipments to 4.42 million, China’s impressive overseas sales of electric vehicles contributed to its lead.
3. This marks the first time in seven years that Japan has been surpassed as the world’s leading car exporter.
Beijing, Feb 01:Â China has emerged as the world’s leading car exporter, surpassing Japan in a notable shift revealed by official data.
While shipments of cars, buses, and trucks in Japan increased by 16%, reaching 4.42 million last year, China’s vehicle exports totalled 4.91 million, nearly 500,000 more, according to data released by the China Association of Automobile Manufacturers.
This marks the first time in seven years that Japan has not held the top spot in global car exports.
China’s accomplishment can be largely attributed to its robust overseas sales of electric vehicles (EVs).
The country’s customs bureau reported an even higher figure, reaching 5.22 million exports, representing a substantial year-on-year increase of 57%, with one in three vehicles being fully electric.
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News agency AFP reported that China had already been shipping more vehicles than Japan on a monthly basis, and the recently released data confirms its status as the top exporter for an entire year.
It’s worth noting that, while Chinese companies lead in total exports, Japanese automakers, including Toyota, were reconfirmed as the largest global firms by unit sales.
Toyota, in particular, retains its significant position, producing substantial volumes of vehicles in various countries.
In 2022, Japan’s domestic vehicle production (excluding motorcycles) reached 7.84 million units, while production in foreign nations exceeded 17 million units.
This emphasizes the global reach and production capacity of Japanese automakers, even as China takes the lead in the total number of vehicles exported.
