The second most populous country is affected by the growing popularity of electric cars and the Russian invasion of Ukraine. Thanks to this, it will become the largest exporter of new cars for the first time in history, overtaking the hitherto sovereign Japan.
He who laughs last laughs best. We probably all know this password. In the automotive industry, it would find application mainly in China, which at the end of the last decade was nowhere near able to match the established competition from Europe, the United States, Japan and South Korea.
But electromobility threw a pitchfork at the established order and shot former outsiders to the stars. Today, the situation looks like car companies with a century-old tradition are in a way fighting for their lives, because at least in terms of the speed of development, they are several years behind the unknown, but even more predatory Chinese brands.
This is also reflected in the pace of exports of Chinese car manufacturers. If Japan has ruled this area for a long time, over the past year it will be replaced by China on the imaginary throne of the largest exporter. In the first eleven months of 2023, it was able to export 4.41 million cars to the world, which represents a year-on-year increase of a significant 58%. During the same period, Japan was able to export fifteen percent more cars than the year before, but the resulting 3.99 million cars for China is not enough.
Two countries in particular had a positive impact on the rise of the world’s second most populous country. The first is Mexico, where 330,000 cars were headed from January to November 2023 (a year-on-year increase of 71%). The second is, unsurprisingly, Russia, which lost the official influx of Western-produced cars due to the bloody war in Ukraine. However, it was the Chinese who took advantage of the shortfall, who delivered 730,000 cars to the Russian Federation and further strengthened its dependence on the world’s second largest economy.
As part of Chinese exports, it is not only cars of local brands. For example, the BMW iX3, some Volvos or Teslas 3 and Y also go out into the world from China, yet the power of local brands is growing. BYD, which competes with Tesla for the title of the largest global manufacturer of electric cars, is especially worth paying attention to.
2024-01-02 16:58:00
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