Thanks to sales to Russia, China has overtaken Japan to become the world's No. 1 car exporter in 2023. CNN reports this.
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China exported a record 5.26 million vehicles last year vehicles, including cars, buses and trucks, up 56% from 2022 with a total value of $102 billion.
Japan, considered the market leader, is expected to ship 4.3 million vehicles over the same period, lagging by almost a million.
Customs data for partial 2023 showed that car exports from China amounted to 4.76 million units in the first 11 months of 2023. During the same period, Japanese car exports reached 3.99 million units, according to the Japan Automobile Manufacturers Association.
At the same time, as CNN notes, in the first 11 months of last year, deliveries of Chinese cars to Russia increased by 545% up to 840 thousand units compared to last year.
