China expected to overtake Germany as the world’s second-largest auto exporter
International Business News – The number of cars exported from China exceeded 2 million for the first time in 2021, totaling 2.015 million, just behind Japan’s 3.82 million and Germany’s 2.3 million, already making it the third largest car exporter in the world and exceeding South Korea’s 1.52 million by nearly 25%.
Although 2022 is not yet over, according to current data, China is very promising to replace Germany as the world’s second largest auto exporter.
From the data, although China’s export models are still mainly passenger cars, but new energy vehicles are rising rapidly. European consumers have a large demand for new energy vehicles, and China’s new energy vehicles have great advantages in terms of performance and price.
According to data from the General Administration of Customs, in 2021, the top ten countries in China’s new energy vehicle exports are Belgium, Bangladesh, the United Kingdom, India, Thailand, Germany, France, Slovenia, Australia and the Philippines in order, five of which are European countries.
China Association of Automobile Manufacturers said that in recent years, with the continuous improvement of the overall competitiveness of China’s automotive products, Chinese brands in the international market to get more recognition. At the same time, enterprises also actively seize the opportunity to vigorously explore the international market, especially new energy vehicles are the current export highlights, some enterprises have successfully entered the European and other developed countries and regional markets.
New energy vehicles as a global auto industry windfall for China’s auto exports provide great opportunities, Bloomberg reported that China’s electric car exports more than doubled, mainly to Europe, China’s share of the global export car market is continuing to grow. The Financial Times has also previously published an article stating that electric vehicles are accelerating the formation of China’s dominant position as an automotive exporter.