China has officially overtaken Japan as the world’s largest exporter of vehicles in the first half of this year, reports Automotive News Europe.
The news comes as data from both nations’ trade groups was released, showing that Japan had exported 2.02 million vehicles in the first six months of 2023, while China had shifted 2.34 million.
According to the China Association of Automobile Manufacturers, the value of its exports rose by 110 per cent to $46.4 billion for the period.
There’s no doubt that the recent boom in electrification has seen China become an automotive powerhouse, with brands like BYD, SAIC, and Tesla China dominating much of the world’s EV market.
Automotive News Europe states that 534,000 electrified vehicles were exported from China in the first half of this year.
In New Zealand, Chinese carmaker BYD has sold over 3500 EVs and achieved a 19 per cent market share since it first started offering the Atto 3 SUV here in August 2022.
China’s vehicle exports to Russia have also increased significantly after Western manufacturers like Volkswagen pulled out of the market in protest of the country’s invasion of Ukraine.