Thanks to its army of electric vehicle manufacturers, China dethroned Japan as the world’s top auto exporter last year, data released Wednesday by the Japan Automobile Manufacturers Association (Jama) confirms.
One in three exported vehicles was electric
Japanese manufacturers exported 4.42 million cars, trucks and buses in 2023 (+16%), according to Jama.
Chinese car exports accounted for 4.91 million units last year (+57.9%) according to the Chinese Association of Automobile Manufacturers (CAAM), or even 5.22 million units according to Chinese customs (+57% ), according to data published earlier this month.
One in every three vehicles exported from China was electric (1.77 million units, +67.1% year-on-year), also according to the country’s customs.
Japan had been the world’s top auto exporter since 2017, and was long predicted to lose its title last year to China.
Japan, more present outside its lands
However, the importance of this change must be put into perspective, because Japanese manufacturers produce twice as many vehicles in their factories abroad (17 million units in 2022) as in the Japanese archipelago. While Chinese manufacturers still have few factories abroad. Like number one BYD, which has just started working at its factory in Hungary, with the start of production scheduled for 2027.
For the fourth consecutive year, the Japanese giant Toyota remained the world’s first automobile manufacturer in terms of sales volume last year, even setting a new all-time record (11.2 million vehicles sold), according to figures published on Tuesday. .
But the meteoric rise of Chinese manufacturers is worrying, both in Japan – where local manufacturers are lagging behind in 100% electric – and in Western countries.
Accusations of unfair competition
Last September, the European Commission opened an investigation into alleged illegal subsidies from Beijing to Chinese electrical manufacturers, accused of unfair competition by the European automobile industry.
The spectacular increase in Chinese automobile exports “is leading to trade tensions” reminiscent of those between Western countries and Japan in the 1980s, CLSA analyst Christopher Richter commented a few months ago.
Furthermore, the current situation of the Chinese automobile industry is not sustainable in the medium term, because its manufacturers will be forced to produce massively in their foreign markets, as the Japanese did since the 1980s, according to him.
The Chinese run towards Russia
“You have to be careful not to generalize and say that only Chinese brands are exported,” however, clarified Tu Le, director of the Chinese research company Sino Auto Insights, in a recent interview with AFP.
Tesla thus has a gigantic factory in Shanghai, which it uses not only to sell in the Chinese market but also to export.
“Global manufacturers also consider China as an export hub, due to the quality of products made there and the cost advantages they have (in China, editor’s note) compared to Europe or the United States,” Tu Le said. .
Russia and Mexico were the Chinese auto industry’s top two export markets in 2023, while the majority of its electrified vehicle exports went to Europe and Southeast Asia.
Chinese vehicle exports to Russia have soared since Moscow’s invasion of Ukraine in 2022, while international sanctions against Russia have driven Western and Japanese manufacturers out of this important market.
Source: BFM TV
