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, reports the South China Morning Post.
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% from 3.11 million units last year.
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