Skip to main content

China’s Auto Export Set to Exceed 5 Million in 2023

Published: 11.1.2023

According to Canalys latest estimates, China's automobile export volume reached 2.3 million units in the first half of 2023, extending its first-quarter dominance, and maintaining its position as the world's largest automobile exporting nation. China's automobile exports are expected to sustain growth momentum for the rest of the year, resulting in China becoming the largest automobile exporter globally in 2023. Underpinned by product and technological advantages and driven by increased investments by Chinese carmakers in various aspects such as channels, R&D, and product localization, EVs are expected to continue to be the core driver of China's automobile export growth. Canalys forecasts the export volume of Chinese vehicles to reach 5.4 million units in 2023, with EVs taking up 40% to reach 2.2 million units.  


In H1 2023, the sales of EVs in Europe and Southeast Asia, two core regions prioritized by leading EV brands, reached 1.5 million and 75,000 units, respectively, representing year-on-year growth of 38% and 250%. 


An increasing number of joint ventures between international automotive makers and Chinese firms are exporting from China and continuously raising export targets. This augments the recognition of China's automobile products and their quality and manufacturing processes in international markets, thereby benefiting the global expansion of Chinese automakers. Canalys predicts the growth trend of China's automobile exports will stay strong in the coming years. The overall automobile export volume in 2025 is expected to reach 7.9 million units, with EVs accounting for over 50%. 


EVs from Chinese brands have performed better compared to ICE (Internal Combustion Engine) vehicles, particularly in Southeast Asia, and the Middle East and Africa markets. Here there is a growing demand for an electric vehicle transformation and market shares of Chinese brands reached 71% and 63%, respectively. BYD is Southeast Asia's best-selling EV brand, holding 39.8% share of the EV market in the region. Notably, BYD is the only brand with a market share exceeding 10% in the EV market.  


Although the penetration rate of EVs in Latin America remains relatively low, Chinese brands accumulated channels and brand influence before driving their EV products to achieve 58% of the Latin American EV market. 


Stay up to date
Read industry news, product offers, and events.
Join email list