China’s car exports surged 63.7% in 2023 while domestic sales, boosted by year-end incentives, rose 4.2%.
The increase in exports, to 4.1 million according to the China Association of Automobile Manufacturers, may push China past Japan as the world’s number one exporter of cars. Japan exported 3.6 million cars in the first 11 months of the year, with a final tally expected on Jan. 31.
Chinese car manufacturers have aggressively expanded exports in search of growth missing at home as China’s economy slows.