China Becomes World’s Biggest Car Exporter, Overtaking Japan in Q1

China says it has become the world’s biggest car exporter after overtaking Japan in the first three months of the year BBC.

According to official figures released last week, China exported 1.07 million vehicles during the period, up 58 percent from the first quarter of 2022.

At the same time, Japan’s vehicle exports stood at 954,185, after rising slightly by 6% from a year earlier.

China’s exports were boosted by demand for electric cars and sales to Russia.

Last year, China overtook Germany to become the world’s second largest exporter of automobiles.

According to China’s General Administration of Customs, China exported 3.2 million vehicles in 2022, compared to Germany’s 2.6 million vehicles.

The shift away from fossil fuels has contributed to the growth of China’s auto industry.

In the first quarter, exports of new energy vehicles (NEVs), which include electric cars, increased by more than 90% compared to the previous year.

Tesla’s Chinese arm SAIC – owner of the MG brand – and BYD, which is backed by veteran US investor Warren Buffett, are among the main exporters of NEVs in China.

Elon Musk’s electric car maker has a huge manufacturing plant in Shanghai that exports to Japan and Europe.

Tesla’s “Gigafactory” is currently capable of producing 1.25 million vehicles per year, and the company plans to further increase its capacity.

Last month, it began producing Model Y sport utility vehicles for export to Canada.

China has also seen an increase in exports to Russia since the start of the Ukraine war, as Western countries have imposed trade sanctions against Moscow.

Last year, Chinese carmakers – including Geely, Chery and Great Wall – saw their market share in Russia grow after rivals such as Volkswagen and Toyota left the country following the invasion of Ukraine.