China Becomes World’s #1 Car Exporter

For the first time ever, China has become the world’s number one auto exporter. This is because China increased sales in Russia where carmakers of Western countries, including South Korea, have left the market and enjoyed a sharp increase in electric vehicle sales, which led to a spike in China’s car exports.

China’s exports in the first 11 months of this year totaled 4.42 million vehicles, up 58 percent from the same period of 2022, the Nikkei reported, using data from the China Association of Automobile Manufacturers (CAAM) on Dec. 28. Japan came in second with 3.99 million units, up 15 percent over the same period of 2022.

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Article Source: Business Korea

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