China becomes the world's largest car exporter

China emerged as the global leader in vehicle exports in 2023, shipping 4.91 million units worldwide. This milestone sees China surpassing Japan, which shipped 4.42 million units last year. Chinese automakers are expanding their presence across continents, while also serving as an export hub for Western brands. Notably, a significant portion of China's exports, one in three vehicles, are electric, totaling 1.77 million units and marking a staggering 67.1% increase, as reported by the country's customs authorities. However, it's also necessary to put this achievement into perspective: while Japanese automakers produce double the number of vehicles in their overseas plants (17 million units by 2022) compared to their production in Japan, Chinese automakers still have limited overseas manufacturing facilities.