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China’s auto production set a record in 2023 as rising electric vehicle exports and shipments to Russia filled the void created by the exit of Western manufacturers.
Last year, the Dragon’s car manufacturers produced 30.16 million vehicles (against 27.02 million in 2022), according to data from the China Association of Automobile Manufacturers (Caam), exceeding the previous records set in 2017. Exports they increased by 58% to 5 million units, overtaking Japan which was stuck at 4.3.
Yet 2023 began with a slowdown in registrations in China. “Price discounts have had an impact on the market and the recovery in car consumption is underway,” commented Chen Shihua, deputy secretary general of Caam. “Towards the end of the year, the auto market performed better than expected, and production and sales volumes set records,” Chen said.
Russia, as it was said, was the top destination for Chinese car exports in 2023, receiving more than 841,000 vehicles in the first 11 months of the year, more than double those sent to second-placed Mexico. Chinese automakers have taken advantage of the abandonment of the Russian market by large groups such as Volkswagen and Toyota, following Russia’s invasion of Ukraine in early 2022.
Automotive, China close to becoming the world‘s leading exporter
SAIC Motor, a state giant, remains the largest exporter, while Chery took second place, thanks to deliveries to Russia. The first private group, Geely, and Changan follow in third and fourth place, again according to Caam.