Guangzhou, China | Bazzup | China exported 3.9 million cars in the first ten months of this year, making it the country with the highest vehicle export volume in the world, according to a representative of the China Council for the Promotion of International Trade.
At the opening of the 21st Guangzhou International Automobile Exhibition on Friday, Wang Xia, the chairman of the council’s automotive sub-council, delivered the speech.
Wang said that in spite of a challenging and complicated global climate, China’s automotive sector has made significant progress toward globalization.
China surpassed Japan to become the world’s top automotive exporter in the first quarter of the year with 1.07 million vehicles shipped. The export volume increased by 59.7% year over year in the first ten months, reaching 3.92 million units.
Additionally, the export price per car increased from 85,000 yuan in 2014 to 137,000 yuan (about 19,100 US dollars) in the first three quarters of 2023.
“China’s automotive industry chain had a 1.56 billion US dollar export value in 2001, accounting for barely 0.65% of the world market. This amount approached 122 billion dollars in the first eight months of this year, representing 5.5% of the worldwide total, according to Wang.
Wang also said that China’s automotive sector would embrace new development opportunities with the implementation of a number of measures aimed at promoting consumption and stabilizing the economy, as well as the gradual recovery of consumer confidence.