This is one more clue to the big rise of China in the automotive industry. In addition to its dominance over the battery manufacturing and automotive components, the Middle Kingdom increased its automotive exports by 54% in 2022 compared to 2021 (and by 120% for electric cars alone). With 3.11 million cars sold in the rest of the world, China has simply overtaken Germany, which exported “only” 2.61 million vehicles in 2022 (up 10%). Quite a symbol!
The next step will probably be overtaking Japan, which exported 3.2 million cars worldwide in the first 11 months of 2022 according to journalists from the Echoes. Given the current outward growth of the Chinese auto market, China could become the world’s largest car exporter as early as 2023.
Fight against Chinese brands
Exports now account for 11.5% of total Chinese automobile production. Remember that brands like MG are hitting hard on our market, slashing the prices of their new electric cars compared to established benchmarks. With the arrival of new Chinese manufacturers such as Byd and the development of the ranges of other brands, European manufacturers are likely to suffer even more.