Advertisement
Shanghai Auto Show: Chinese carmakers confident of overtaking Japan as world’s No. 1 exporter this year with shipments of 4.5 million units
- While the China Passenger Car Association expects exports to hit 4 million units this year, some industry executives believe the figure could touch 4.5 million
- Car exports from China reached 301,000 units in the first two months of this year, an increase of 30.1 per cent from a year earlier
Reading Time:3 minutes
Why you can trust SCMP
9
China is likely to overtake Japan as the world’s top car exporter this year, with industry executives predicting shipments of up to 4.5 million units, on the back of the growing manufacturing and technological heft of the nation’s electric-vehicle makers.
At the Shanghai Auto Show that started on Tuesday, more than a dozen leading domestic carmakers, including SAIC Motor, Chery Automobile, Geely, BYD and GAC Motor, were promoting their products to dealers from overseas markets. The rising exports would also help EV makers ride out slowing sales growth at home, where a bruising price war has failed to whet consumers’ buying appetite.
A top official of the China Passenger Car Association (CPCA) said car exports could top 4 million units for the first time in 2023, up nearly 30 per cent from 3.11 million units last year.
“The goal can be achieved if overall demand for vehicles abroad remains stable,” said general secretary Cui Dongshu. “Chinese automotive companies have the potential to increase their overseas sales.”
If the sales forecasts in foreign markets prove to be accurate, then China would probably surpass Japan to become the world’s top auto exporter. In 2022, Japan’s exports fell nearly 8 per cent year on year to 3.5 million units.
Advertisement