The Wall Street Journal's analysis on the same day reveals that last year, China's overseas car sales surged to a record level, with the potential to surpass Japan and claim the top spot in global car exports, signaling a significant shift in the global automotive industry landscape. According to data released on Tuesday by the China Passenger Car Association (CPCA), 52.6 million cars manufactured in China were sold in overseas markets last year, potentially exceeding Japan's car export volume by nearly 1 million vehicles.
According to the latest official data from Japan, in the first 11 months of 2023, Japan exported fewer than 4 million cars overseas.
The Wall Street Journal pointed out that, despite China being globally recognized as a leader in the electric car sector, traditional gasoline-powered cars remain the primary driver of growth, especially with the surge in demand from Russia.
However, Agence France-Presse (AFP) analysis suggests that the significance of China claiming this title should not be overestimated. This is because the number of cars produced by Japanese brands in overseas factories is twice that of Japan's domestic production, reaching 17 million by 2022.
China: Strong Growth in Electric Car Sales in 2023
According to data released on Tuesday by the China Passenger Car Association (CPCA), electric car sales in the Chinese market surged by 21.9% in 2023, with approximately 6.1 million fully electric cars sold throughout the year.
The industry association's data also showed that over 2.7 million hybrid models found buyers. Last year, China sold a total of 21.6 million various private cars, a year-on-year increase of 5.6%.
According to a report by Agence France-Presse (AFP), in recent years, China has witnessed the emergence of dozens of innovative domestic brands, engaging in fierce competition with foreign manufacturers striving to adapt to the Chinese market. In December, China's BYD once again became the undisputed champion of electric cars in the country (selling over 340,000 units), far ahead of the United States' Tesla (over 94,000 units).
BYD sells cars in around 50 countries, including Europe, making it one of the many Chinese car manufacturers showcasing their prowess overseas. In the fourth quarter of 2023, the group surpassed Tesla, becoming the world's largest electric car seller. However, for the entire year, Tesla remains the world's largest car seller. According to Agence France-Presse (AFP) based on CPCA data, the export volume of new energy cars from China surged to 3.5 million units last year (+27%). Of course, this figure includes cars produced by Tesla in China and shipped to other markets.
In recent years, China's electric car market has grown at an astonishing pace, primarily due to government-provided car purchase subsidies, which were discontinued at the end of December 2022. To maintain the pace of development, car manufacturers initiated a price war last year. According to data from the independent technology market analysis firm Canalys, 59% of electric cars sold globally in 2022 were sold domestically in China.
(This article is reproduced from RFI, read the original source.)