China is now the top auto exporter in the world

The big bump that allowed China to dethrone Japan as the world’s largest auto exporter was exports to Russia.
In the first quarter of 2023, China exported 1.07 million vehicles which represents a 58% increase versus last year. Japan shipped 950,000 vehicles in the same period.
Sanctions on Russia limited what the country could import leading them to turn towards China. Vehicles and auto parts exports from China to Russia tripped over the previous year. Russia has become the top destination for Chinese auto exports.
35% of the world’s EV exports come from China versus 25% in 2021. This number will continue to rise as the world shifts towards EVs and China continues to capture an increasing share of that demand.
Works Cited:
https://www.wsj.com/articles/your-next-electric-vehicle-could-be-made-in-china-a288ab58?mod=article_inline
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