China shipped 2.14 million vehicles in H1 2023, up 75.7% from last year, according to the China Association of Automobile Manufacturers (CAAM). The industry exported 1.78 million passenger vehicles, up 88.4%, and 534,000 new energy vehicles (NEVs), up 160%.
Chinese automobile exports have averaged 1 million per year. The export volume first crossed 2 million units in 2021. In 2022, China became the second-largest auto exporter behind Japan which exported 3 million units. Fu Bingfeng, Executive Vice President and Secretary-General of CAAM, predicts 4 million Chinese automobile exports by the end of 2023.
SAIC, Chery, Tesla China, Changan, Great Wall Motors, Geely, and Dongfeng collectively exported over 100,000 vehicles in H1 2023. BYD shipped 81,000 vehicles, up 1,060%, whereas Chery exported 394,000, up 170%. Great Wall Motors (GWM) exported 124,000, up 97.3%.
China exports independent and foreign investment/joint venture brands of cars. Tesla China exported 182,000 vehicles in H1 2023, making it China’s third-largest auto exporter and one-third of its NEV exports. In Mexico, Australia, the UK, Saudi Arabia, India, and Thailand, SAIC (MG’s parent company) is expanding its footprint rapidly, whereas Chery is excelling in Russia, Mexico, and Chile.
China exports most vehicles to Asia, Europe, and Latin America. From January through May, Russia, Mexico, and Belgium imported the most Chinese cars. Belgium, UK, and Thailand imported the most Chinese NEVs. With these statistics, China seems well on its path to becoming the world’s largest automotive exporter.