China overtakes Japan as world's largest car exporter

Editor's note: Japan just got knocked out of first place for car exports with China now taking top spot. Janet Yellen calls manufacturing in China "overproduction" while the Japanese along with their US overlords are planning on spending billions on hypersonic missile technology to counter China, North Korea and Russia. Although Japan's Toyota is still the world's largest car manufacturer, China overtook Japan as the world's largest exporter. Japan currently has a labor shortage and have stated they are planning on allowing 800,000 vetted migrants into Japan over the next 5 years to work as laborers many presumably in car and truck manufacturing. Don't forget, it was American technocrats after WWII under General MacArthur who came to Japan to set up infrastructure including car manufacturing that made Japan's car manufacturers what they are today. The word now is China is preparing to take Taiwan. China wants Taiwan's TSMC.
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Toyota remains the world's largest car manufacturer, but China overtakes Japan as the world's largest car exporter

By Amador Palacios | March 20, 2024

The global automotive industry landscape has undergone a significant change in 2023. Although Toyota remains the largest car manufacturer in terms of sales, China has overtaken Japan as the leading vehicle exporter. And this change, if it is maintained, can have important implications for the future of the automotive sector.

These are the data that I have been able to obtain:

• Toyota: Sold 11.2 million vehicles in 2023, consolidating itself as a sales leader for the third consecutive year.

• China: Its production reached 26.1 million units, surpassing Japan (by 9.2 million) and making it the largest producer in the world.

• Exports: China exported 5.2 million vehicles in 2023, while Japan exported 4.4 million. For the first time, China appears as the world's largest exporter of cars.

There are a number of factors driving China's growth in exports:

• Robust domestic market: China has the largest automotive market in the world, with more than 300 million vehicles in circulation.

• Government incentives: The Chinese government encourages the production and sale of electric vehicles, boosting this segment.

• Rise of local brands: BYD, Geely and Great Wall Motors have experienced exponential growth, gaining ground in the global market.

And this change has a number of implications for the future:

• Intensified competition: Competition in the industry intensifies. Traditional manufacturers such as Toyota, Volkswagen and General Motors will be forced to adapt.

• Rise of electric vehicles: China leads the production of electric vehicles, and is already the world leader in this segment

• Change in leadership: It is more than possible that China will also become the leader in automobile sales in the future.

It is not easy to anticipate the future, but if China improves the quality of its cars (it is still somewhat below Western brands), it will be a very difficult opponent to beat. Because the Chinese market is highly competitive and there are many manufacturers that are unknown to us today.

In the following photo you can see the number of different car brands that there are in China

Please go to amadorpalacios to continue reading.
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