China topped the global car export rankings in the first quarter of this year. This is reported by journalists from the publication Expert, with reference to data from the Association of Korean Automobile Manufacturers.
“China overtook Japan, exporting 994,000 cars, while Japan sent only 954,000 to the overseas market. China’s auto exports include 826,000 passenger cars and 168,000 commercial vehicles, including buses and trucks. The share of purely Chinese brands in exports is nearly 80 percent,” the report said.
“It is not surprising that China has come out on top in terms of global car exports, because the production capacities of Chinese automakers, which not only assemble Chinese cars, but also a number of European cars through joint efforts, are colossal. . This is an obvious fact. And one of the indicators of this is that the cost of some European cars in the Chinese market today is significantly lower than that of the same Europe”, Ilya Titov, executive director of the Orekhovo-AvtoCentre group of companies, an expert on Russia-Chinese Committee for Friendship, Peace and Development, comments on the news.
Titov is sure that no country will be able to overtake China in terms of car export share in the next two years.
“Today, all over the world, the trend is towards the development of electric cars. Especially in Europe and the USA. The production of vehicles running on environmentally friendly fuels is growing, and the presence of this type of transport in local automotive markets is also growing. And who is today the main competitor of Tesla in the sale of electric vehicles in the world? Chinese BYD. Earlier this year, BYD firmly established itself as the world’s second largest seller of electric vehicles. Over the past year, Tesla has sold 1.313 million electric vehicles, the Chinese – 911,000. It would seem that industry executives haven’t come out. But Tesla increased its sales by 40% and BYD by more than 180%. The tremor is huge. Therefore, I think that the Chinese today have no competition in terms of the speed of increasing the pace and volume of car exports, ”summarized Ilya Titov.
Read the Latest News about China-Russia Relation on The Eastern Herald.
