Chinese car exports soar, with BYD and Chery taking the lead

18 July 2023

The story of China's automobile industry seems to be - unsurprisingly - one of exponential growth. From humble beginnings to the position of a global contender, it's a narrative marked by a relentless pursuit of progress. Now, in 2023, the country is set to make new records with its car exports.

Over 2.14 million Chinese-made vehicles found homes outside the mainland in the first half of 2023 alone, according to the China Association of Automobile Manufacturers (CAAM). That's a year-on-year increase of 75.7%, folks, and it's only mid-year! Within this impressive figure, 1.78 million were passenger vehicles, and 534,000 were new energy vehicles, registering an increase of 88.4% and 160%, respectively. Over half a million plug-in hybrid and electric cars were exported globally in just six months - that number alone probably explains why VW struggles to sell its products.

Sure, China's vehicle exports had been trundling around the 1 million mark annually for some years, but 2021 was the game changer when exports surpassed 2 million units. By 2022, the export tally was over 3 million, nudging China into second place as the world's largest automobile exporter after Japan. Now, fast forward to 2023, and CAAM's Executive Vice President Fu Bingfeng is projecting export volumes to cross the 4 million mark. That's not an uptick; it's a surge!

In the stampede of Chinese automakers racing to meet global demand, two companies have stood out - BYD and Chery. Seven Chinese auto companies managed to export more than 100,000 vehicles in the first six months of 2023. Among these, BYD has seen an astonishing year-on-year increase of 1,060% in export volume, shipping out 81,000 vehicles. Chery wasn't far behind, with a robust 170% increase, translating to 394,000 vehicles. Let's not forget about the others, Great Wall Motors included, who also witnessed significant growth.

Tesla China made its mark, too, exporting 182,000 vehicles in the first half of the year. This represented a third of China's new energy vehicle (NEV) exports, establishing Tesla China as the third-largest auto export brand in the country. SAIC and Chery also made impressive strides in various markets, ranging from Mexico and Russia to Saudi Arabia and Australia.

Asia, Europe, and Latin America seem to have developed a taste for Chinese cars, becoming the primary markets. The top importers? They were Russia and Mexico, who just can't seem to get enough of these made-in-China wheels. But when it comes to electric and plug-in hybrid vehicles, Belgium, the UK, and Thailand lead the pack. The Chinese auto industry isn't just taking baby steps; it's striding toward the future with confidence while everybody else is still thinking about what to do next.

Via