Data from a Japanese auto industry association shows that China overtook Japan as the world’s largest vehicle exporter last year.
The Japan Automobile Manufacturers Association reported Japan exported 4.42 million vehicles in 2023, up 16% from a year earlier, while domestic auto sales totaled nearly 4.78 million vehicles.
According to figures released earlier by the China Association of Automobile Manufacturers, China exported 4.91 million vehicles last year. That was nearly 58% more than the year before. Much of the increase was driven by shipments of electric and hybrid vehicles.
