Chinese automakers have benefited from the absence of global competitors in Russia, from which hundreds of international brands left due to the invasion of Ukraine. 2023 has become a significant year for cheap Chinese electric cars.
China topped the world ranking of car exports.
China has overtaken Japan to become the world's number one exporter of cars in 2023.
The CNN reports this information.
The China Passenger Car Association (CPCA) said the country is likely to export a record 5.26 million vehicles last year, including cars, buses and trucks, up 56% from 2022, with a total value of $102B, the message says.
Japan, considered the market leader, is expected to have shipped 4.3 million vehicles in the same period, nearly a million behind.
Customs data for the incomplete year 2023 showed that car exports from China totalled 4.76 million units in the first 11 months of 2023. Japan's car exports reached 3.99 million units during the same period, according to the Japan Association of Automobile Manufacturers.
Without a doubt, China has become the world's largest exporter, the China Association has already announced.
At the same time, as CNN points out, in the first 11 months of last year, shipments of Chinese cars to Russia increased by 545% to 840,000 units compared to the previous year, making it the fastest-growing market, according to the latest Chinese customs data.
Chinese automakers have benefited from the absence of global competitors in Russia, which invaded Ukraine in February 2022, prompting hundreds of global brands to leave. 2023 has become a significant year for Chinese electric cars, which are cheaper than models built by competitors in other countries. They penetrated into Europe, Australia and Southeast Asia, the publication writes.
China has increased its car export to Russia by six times
According to Russian sources, China increased its export of passenger cars to Russia by six times.
Russia ranks first in the world in purchasing Chinese cars
Sixteen new brands officially appeared in the Russian Federation last year, increasing their total to 35.
Mexico ranks second in the volume of purchases of Chinese cars, which are cheaper than American and European ones.
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