China overtakes Japan as world's top car exporter

KUALA LUMPUR: According to a report by the Bangkok Post, China has surpassed Japan as the world's largest car exporter.

In 2023, China saw its car exports soar by 58% to 4.91 million vehicles, outpacing Japan's 16% increase to 4.42 million vehicles. This marks the first time Japan has been overtaken since Germany held the top spot in 2016.

The surge in global demand for electric vehicles (EVs) has significantly benefited Chinese car manufacturers like BYD, which have enjoyed robust sales thanks to substantial support from China.

Additionally, China's petrol vehicle exports to Russia experienced a rise following the withdrawal of Japan, the United States, and Europe from the market due to the conflict in Ukraine.

However, Japanese car exports witnessed an uptick for the first time in two years. The figures, though, have not returned to pre-pandemic levels, when Japan exported 4.82 million vehicles in 2019.

Japanese manufacturers, including Toyota Motors, are reassessing their production strategies to reduce reliance on petrol vehicles by enhancing the sales of petrol-electric hybrids, which often offer greater range compared to fully electric vehicles.

China now faces the challenge of maintaining its top position as the pace of global EV sales shows signs of slowing, attributed to high prices and a lack of charging stations.

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