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China overtakes Japan as world's top car exporter

Source: ft.com

China has become the world's biggest car exporter, overtaking Japan for the first time.
It shipped 5.22 million vehicles abroad in 2023, up 58% from the previous year.
This surge challenges Western carmakers and sparks EU concerns over cheap Chinese electric vehicles.

China has surpassed Japan to become the top car exporter globally, driven by a boom in electric vehicle shipments. Key players include Chinese giants like BYD and Chery, alongside Japanese firms such as Toyota. The core finding is China's rapid rise in affordable EVs flooding markets, prompting trade tensions. It matters because it threatens established car industries in Europe and the US, potentially reshaping global auto trade.