China's automobile exports surpassed Japan for the first time, becoming the world's largest automobile exporter

According to the latest data, China's automobile exports will reach 4.91 million units in 2023, a year-on-year increase of 58%, surpassing Japan for the first time to become the world's largest automobile exporter. At the same time, Germany, South Korea and the United States exported 2.89 million, 2.76 million and 2.33 million vehicles respectively. In the past few years, China's automobile industry has been leading the world in export growth. From 2008 to 2023, automobile exports increased from 680,000 to 4.91 million, with an annual compound growth rate of 13%.