Powerhouse China leads world in auto exports, topping Japan in H1 2023, up 76% Year on year

[beijingwalker]

Powerhouse China leads world in auto exports, topping Japan in H1 2023, up 76% Year on year​

Chinese cars make inroads into Russia, Europe and Mexico in first half

August 6, 2023 01:39 JST

TOKYO/GUANGZHOU -- China became the world leader in automobile exports in the first six months of 2023, surpassing Japan at the half-year mark for the first time as more Chinese electric cars sold worldwide.

Major Chinese automakers exported 2.14 million vehicles from January to June, up 76% on the year, according to the China Association of Automobile Manufacturers (CAAM). Japan lagged at 2.02 million, for a gain of 17% on the year, data from the Japan Automobile Manufacturers Association shows.

China was already ahead of Japan in the January-March quarter. Its export growth owes to a booming trade in EVs and gains in the European and Russian markets.

China's exports of new energy vehicles, which include EVs, plug-in hybrids and fuel cell vehicles, more than doubled in the January-June half to reach 25% of the country's total auto exports. Tesla, which uses its Shanghai plant as an export hub for Asia, exported more than 180,000 vehicles, while its leading Chinese rival BYD logged exports of more than 80,000 autos.

Russia was the top destination for Chinese auto exports at 287,000 for January to May, including gasoline-powered cars, according to customs data compiled by CAAM. South Korean, Japanese and European automakers slashed their Russia presence after Moscow's February 2022 invasion of Ukraine. Chinese brands have moved in to fill this void.

Mexico, where demand for gasoline-powered vehicles is strong, and Belgium, a key European transit hub that is electrifying its auto fleet, were also high on the list of destinations for Chinese exports.
New auto sales in China totaled 26.86 million in 2022, the most in the world. EVs alone reached 5.36 million, surpassing Japan's total new vehicle sales, including gasoline-powered vehicles, which stood at 4.2 million.

U.S.-based AlixPartners forecasts that EVs will account for 39% of new vehicle sales in China in 2027. That would be higher than EVs' projected worldwide penetration of 23%.

Government subsidies for EV purchases have provided a significant boost in China. By 2030, Chinese brands like BYD are expected to account for 65% of EVs sold in the country.

With a domestic supply network for lithium-ion batteries - the determining factor in the performance and price of EVs -- Chinese automakers are increasing their export competitiveness.

"After 2025, Chinese automakers are likely to take a significant share of Japan's major export markets, including the U.S.," said Tomoyuki Suzuki, managing director at AlixPartners in Tokyo.

EV powerhouse China leads world in auto exports, topping Japan

Chinese cars make inroads into Russia, Europe and Mexico in first half

asia.nikkei.com

 

[OIO]

Powerhouse China leads world in auto exports, topping Japan in H1 2023, up 76% Year on year​

Chinese cars make inroads into Russia, Europe and Mexico in first half

BYD and other Chinese automakers are gaining ground in exports. (Photo by Yusuke Hinata)
AZUSA KAWAKAMI and YUSUKE HINATA, Nikkei staff writers
August 6, 2023 01:39 JST

TOKYO/GUANGZHOU -- China became the world leader in automobile exports in the first six months of 2023, surpassing Japan at the half-year mark for the first time as more Chinese electric cars sold worldwide.

Major Chinese automakers exported 2.14 million vehicles from January to June, up 76% on the year, according to the China Association of Automobile Manufacturers (CAAM). Japan lagged at 2.02 million, for a gain of 17% on the year, data from the Japan Automobile Manufacturers Association shows.

China was already ahead of Japan in the January-March quarter. Its export growth owes to a booming trade in EVs and gains in the European and Russian markets.

China's exports of new energy vehicles, which include EVs, plug-in hybrids and fuel cell vehicles, more than doubled in the January-June half to reach 25% of the country's total auto exports. Tesla, which uses its Shanghai plant as an export hub for Asia, exported more than 180,000 vehicles, while its leading Chinese rival BYD logged exports of more than 80,000 autos.

Russia was the top destination for Chinese auto exports at 287,000 for January to May, including gasoline-powered cars, according to customs data compiled by CAAM. South Korean, Japanese and European automakers slashed their Russia presence after Moscow's February 2022 invasion of Ukraine. Chinese brands have moved in to fill this void.

Mexico, where demand for gasoline-powered vehicles is strong, and Belgium, a key European transit hub that is electrifying its auto fleet, were also high on the list of destinations for Chinese exports.
New auto sales in China totaled 26.86 million in 2022, the most in the world. EVs alone reached 5.36 million, surpassing Japan's total new vehicle sales, including gasoline-powered vehicles, which stood at 4.2 million.

U.S.-based AlixPartners forecasts that EVs will account for 39% of new vehicle sales in China in 2027. That would be higher than EVs' projected worldwide penetration of 23%.

Government subsidies for EV purchases have provided a significant boost in China. By 2030, Chinese brands like BYD are expected to account for 65% of EVs sold in the country.

With a domestic supply network for lithium-ion batteries - the determining factor in the performance and price of EVs -- Chinese automakers are increasing their export competitiveness.

"After 2025, Chinese automakers are likely to take a significant share of Japan's major export markets, including the U.S.," said Tomoyuki Suzuki, managing director at AlixPartners in Tokyo.

EV powerhouse China leads world in auto exports, topping Japan

Chinese cars make inroads into Russia, Europe and Mexico in first half

asia.nikkei.com

There are also second-hand cars, and Chinese second-hand cars will wash the global market with blood!

 

[beijingwalker]

China is still crashing anyway

 

[beijingwalker]

China-made NEV sales make up 60% global share in H
By Global Times
Published: Aug 06, 2023 08:29 PM

A large number of vehicles are assembled at Lianyungang port in East China's Jiangsu Province on August 2, 2023, ready to be loaded onto ships. During the first half, the port exported 169,835 vehicles, an increase of 106 percent year-on-year. Photo: VCG

Sales of China-produced new-energy vehicles (NEVs) reached 3.65 million in the first half of 2023, up 48 percent year-on-year and accounting for more than 60 percent of the global NEV market.

Experts said that the strong momentum will persist for the rest of the year, and China may become the largest exporter of all types of vehicles and surpass Japan by the end of 2023, as China's auto manufacturing gets a boost from NEV making.

First-half global NEV sales grew by 45 percent year-on-year to 6.05 million, amid the expiration of government subsidies in various countries, said Cui Dongshu, secretary general of the China Passenger Car Association (CPCA), on Saturday.

"Thanks to an advanced industrial supply chain, China-produced NEVs made remarkable achievements in the first half of 2023, helping lift sales in both domestic and overseas markets," said Cui.

The structure of the global auto market remains stable, and the strong growth momentum of China's auto exports will be extended to the end of 2023, Cui said.

China overtook Japan as the world's top auto export in the first quarter of 2023.

Data from China's General Administration of Customs showed that China exported 1.07 million vehicles in the first quarter, while Japan exported 950,000 vehicles, according to the Japan Automobile Manufacturers Association.

"Based on the current situation in China's auto industry, the nation's annual auto exports may surpass Japan's by the year-end," Wu Shuocheng, a veteran automobile analyst, told the Global Times on Sunday, noting that China now leads the global green energy transformation.

However, Cui commented that building stable trade relations with as many countries as possible are necessary to consolidate the achievements of China's auto exports.

According to the Politico, France is pushing the EU to hit back at alleged "unfair exports" of electric vehicles by some countries.

Amid possible headwinds, Wu suggested that Chinese auto brands should invest more in overseas markets by investing in manufacturing and strategic centers overseas to defuse risks caused by trade protectionism and exchange rate volatility.

China-made NEV sales make up 60% global share in H1, total auto exports may surpass Japan by year-end - Global Times

www.globaltimes.cn

 

[beijingwalker]

China Claims 1st Place in World Auto Exports in First Half of Year
August 7, 2023, 11:06

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The lineup of automobiles from BYD Auto, the automotive subsidiary of publicly listed Chinese multinational BYD Company

China’s auto exports in the first half of the year topped the world for the first time ever by beating Japan. This is attributed to expanding sales of new energy-powered vehicles such as electric cars in the Russian market from which U.S., Japanese and European automakers have been withdrawing since the outbreak of the war in Ukraine.

According to data from the China Association of Automobile Manufacturers (CAAM), automobile exports by major Chinese companies in the first half of this year rose 76 percent to 2.14 million units from the same period of 2022.

This eclipsed Japan’s auto exports (2.02 million units) in the same period, according to the Japan Automobile Manufacturers Association. This marked the first time China’s auto exports have surpassed Japan’s.

China’s auto exports have been driven by increased sales of new energy-powered vehicles, including electric vehicles. In the first half of this year, China exported 534,000 new energy-powered vehicles (electric, hydrogen, and hybrid vehicles), up 160 percent from the same period of 2022 and accounting for 25 percent of all exported vehicles.

Tesla, with a factory in Shanghai, China, exported more than 180,000 units, and BYD sold more than 80,000 units overseas.

By country, China’s vehicle exports to Russia surged. China’s vehicle exports to Russia were the highest at 287,000 units in the first five months of this year.

“After Russia’s invasion of Ukraine, major Korean, Japanese, and European companies drastically reduced their Russian business,” Nikkei said, “Chinese companies are filling the void.”

China Claims 1st Place in World Auto Exports in First Half of Year

China’s auto exports in the first half of the year topped the world for the first time ever by beating Japan. This is attributed to expanding sales of new energy-powered vehicles such as electric cars in the Russian market from which U.S., Japanese and European automakers have been withdrawing since

www.businesskorea.co.kr

 

[beijingwalker]

Auto industry clearly will be China's next growth engine

 

[etylo]

Auto industry esp big exporting can really make a country rich, many of the wealthy countries are big auto exporters such as Germany, Japan, South Korea and US before.