According to official data, China exported 1 million 70 thousand vehicles in the first three months of the year. This means an increase of 58% compared to the first three months of 2022.
In the same period, Japan increased the number of vehicles it exports to 954,185 with an increase of 6 percent.
The increase in China’s automotive exports is the result of increased interest in electric vehicles and rising sales in Russia.
Last year, China took the title of the world’s second largest automotive exporter from Germany.
According to the China Customs General Directorate, China exported 3.2 million vehicles in 2022, while Germany sold 2.6 million vehicles.
The move away from fossil fuels played an important role in the rise of China’s automotive industry.
In the first three months of the year, new energy vehicles (NEVs), including electric vehicles, increased by 90% compared to last year.
Tesla’s Chinese arm SAIC (owner of the MG brand) and BYD, backed by US investor Warren Buffet, are among China’s major NEV exporters.
Elon Musk’s electric vehicle brand has a large factory in Shanghai, from which it exports to Japan and Europe.
The factory currently produces 1.25 million vehicles per year, and the company plans to further increase capacity.
Chinese automotive exports to Russia have also increased since Western countries placed an embargo over the invasion of Ukraine.