China dethrones Japan as top car exporter

In 2023, China surpassed Japan to become the world's leading car exporter, bolstered by a surge in electric vehicle sales.

Industry figures revealed that China exported 4.91 million vehicles, marking a 58% jump, while Japan saw a 16% increase to 4.42 million. This shift marked the first time Japan lagged behind since Germany led in 2016.

Chinese firms like BYD have benefited from national support and led in global electric vehicle (EV) supply as demand rises to cut carbon emissions. Additionally, Chinese gasoline car exports to Russia grew as Western companies withdrew amidst the Ukraine conflict.

Though Japan's car exports grew, they did not reach the pre-pandemic figures of 4.82 million from 2019. Japanese manufacturers, including Toyota, are rethinking their strategies, pivoting towards hybrids over traditional gas vehicles.

Despite taking the lead, sustaining this growth may be challenging for China. Global EV demand is potentially slowing due to high costs and insufficient charging infrastructure, experts caution.