According to data from the first half of 2024, China has surpassed Japan in car exports, maintaining its position as the largest car exporter in the world. This achievement indicates that China's international competitiveness in the automotive industry is increasing.
In the first six months of 2024, Japan's car exports fell by 0.3% year-on-year to less than 2 million units, while China's exports exceeded 2.79 million, a 31% increase compared to the previous year. Among these, 2.34 million were passenger vehicles, and about 454,000 were commercial vehicles.
Additionally, fuel vehicle exports from China increased by 36%, approaching 2.19 million, while electric vehicle exports also rose by 13% to about 605,000 units. The top five exporting companies in the first half of 2024 were Chery, SAIC, Changan, Geely, and BYD, with Chery exporting around 532,000 vehicles.
Despite Chinese electric vehicles capturing 11% of the European market, new tariffs imposed on imports have made the market challenging.
