China leading the global auto industry
Chinese cars will make up one third of global market by 2030
China surpassed Japan to become the world's largest automobile exporter.
What the rise of Chinese auto brands means for global automakers？
Who has suffered the most and needs to make a recovery?
How are global governments strengthen the domestic automotive industry?
From Novice to Number One🍻
Two decades ago, cars were a luxury in China. Now, China produces and exports more vehicles than any other country. In 2023, it became the world’s largest car exporter, shipping 5.17 million vehicles—a 59.5% jump from the previous year—surpassing Japan by 190,000 cars. One-third of these were electric vehicles (EVs).
China’s domestic market, the world’s largest, has fuelled this rise. However, slowing demand at home and economic downturns have prompted Chinese automakers to shift focus abroad. With an annual production capacity of nearly 40 million cars—twice the size of its domestic demand—China is accelerating its push into global markets.🌍
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