Global No.1: China’s auto exports to top 5 million units in 2023

China’s automobile export volume realizes rapid growth.

According to data from the China Association of Automobile Manufacturers (CAAM), China’s auto exports were 1.07 million in one quarter this year, up 58.1% year-on-year. In contrast, Japan’s Auto Industry Association (JAIA) data showed that Japan’s auto exports were 954,000 in one quarter, up 5.6% year-on-year. Five years ago, China’s auto exports were still hovering at the 1 million level for a decade suddenly, in 2021~202 it broke 2 million and 3 million consecutively and then rose directly to 5 million in 2023, and if it keeps the export volume at the October level for the remaining two months, the cumulative export is expected to reach 4.9 million units this year.