Chinese exports of vehicles (cars, trucks and buses) surpassed those of Japan in 2023, according to data from the Japan Automobile Manufacturers Association (Jama) communicated to AFP on Wednesday. Japan, which was the world’s top exporter of automobiles since 2017, exported 4.4 million vehicles last year, according to Jama, while China exported more than 4.9 million in 2023, according to Jama. after data released earlier this month by the China Automobile Manufacturers Association.
Chinese exports jumped 58% last year compared to 2022, driven mainly by the massive production of electric cars in the country. At the end of 2023, the Chinese manufacturer BYD for the first time overtook the American Tesla in the number of electric cars delivered: BYD delivered nearly 530,000 vehicles worldwide in the fourth quarter, compared to 485,000 for Tesla.
European Commission investigation
Chinese companies still have few overseas factories, but BYD announced plans to build a factory in Hungary in December. The European Commission opened in October investigation on China’s subsidies to electric car manufacturers. The EU suspects the country of “unfair commercial practices” and reserves the possibility, depending on the conclusions of the investigation, to impose “anti-subsidy duties on imports of battery electric vehicles from China”.
The market share of Chinese electric cars out of all 100% electric cars sold in the European Union is relatively low: it was 4% in 2022, compared to 0.4% three years earlier, according to numbers of the Association of European Automobile Manufacturers.