China auto exports surge 58% in ‘23

China’s auto exports surged 58 per cent last year to 4.91 million units, Bloomberg reported citing China Association of Automobile Manufacturers (CAAM) data.  

The surge in exports may propel China past Japan as the world’s number one exporter of cars. Japan exported 3.6 million cars in the first 11 months of the year, with a final tally expected on January 31.

The country’s auto production boosted to 30.16 million vehicles in 2023 and wholesale deliveries — which count shipments to dealers — rose to 30 million, the data added.

“Price discounts have impacted the market and the recovery of auto consumption is ongoing,” with the industry facing relatively big pressure overall, said CAAM vice secretary general Chen Shihua.