AutoBeta(AutoBeta.net)05/20 Report--

China overtook Japan to become the world's largest exporter of new cars in the first quarter due to the growth of global electric vehicle sales, according to foreign media reports.

According to statistics from the China Association of Automobile Manufacturers, domestic automobile companies exported 994000 vehicles in the first quarter, up 70 per cent from the same period last year, surpassing Japan's 954000 vehicles and up 6 per cent from the same period last year. It is worth mentioning that China exported 376000 cars in April, an increase of 170% over the same period last year and maintained a good momentum. From the perspective of specific manufacturers, SAIC exports 231000 vehicles in the first place, Chery 172000 vehicles in the second place, Tesla 92000 vehicles in the third place, Changan and Geely 90000 vehicles and 53000 vehicles respectively.

According to the General Administration of Customs data compiled by the China Association of Automobile Manufacturers, the top 10 countries in the first quarter of 2023 are Russia, the United States, Mexico, the United Kingdom, Belgium, Japan, Australia, Germany, the United Arab Emirates and South Korea. Compared with the same period last year, US exports fell slightly compared with the same period last year, while exports from other countries showed positive growth, especially in Belgium, Russia and the United Arab Emirates.

Under the conflict between Russia and Ukraine, the international brands in the Russian automobile market were replaced by Chinese brands. In the first quarter, Chinese cars sold a total of 66000 vehicles in the Russian market, with a market share of 42.5%. Six Chinese brands ranked among the top 10 in Russia. Although Russia is an important automobile market, there are still some uncertainties as to whether it can become the largest market for China's automobile exports in the future. one is the trade friction between countries and Russia, which may affect the development of Chinese brands. secondly, Russia will also provide policy support for the development of its own brands.

China's car exports overtook Germany in 2022, and foreign media expect China to overtake Japan as the world's largest car exporter this year due to the rapid development of new energy vehicles.

China's new energy vehicles have strong competitiveness and obvious cost-effective advantages. They quickly occupy the domestic market and enter the overseas market at the same time. As China's new energy vehicles accelerate overseas, Europe and North America are becoming the two major incremental markets for China's auto exports. A number of agencies predict that China's car exports will reach 4 million this year. In 2022, Japan is still the largest country in automobile exports, but its growth is sluggish, while China, in the process of energy transformation of the automobile industry, has surpassed Germany to become the second largest automobile exporter. If Japan's car exports can still maintain last year's 3.5 million, then China is expected to surpass Japan and become the world's largest automobile exporter.

It is worth mentioning that more and more brands are beginning to lay out overseas, including joint venture brands. Recently, Dongfeng Honda announced that the whole car will be officially exported to overseas markets, including CR-V e:HEV, CR-V e:PHEV and e:NS1 models, and exported to a number of European countries.

It is understood that the first batch of 300 CR-V e:PHEV exported from Shanghai Haitong port to Europe is expected to arrive at the port of Zabruhe in Belgium in late June, and then will be successively shipped to more than 20 countries, including the United Kingdom, Ireland, Iceland, Greece, and Portugal. Officials say the project marks Dongfeng Honda's official step abroad, the first step into overseas markets, and an important milestone in the development of Dongfeng Honda's overseas business.

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