China is certain to become the world's largest auto exporter this year as its vehicle export volume exceeded 3.9 million units in the first ten months, an official from the China Commission for the Promotion of International Trade (CCIPT) said on Friday.
Chairman of the Automotive Industry Subcommittee of the CCSRMT Wang Xia made this statement at the 21st Guangzhou International Automobile Exhibition, which opened on Friday in Guangzhou (capital of Guangdong Province, South China).
Despite challenging and harsh international environment, the Chinese automobile industry has taken a confident step towards internationalization, Wang Xia said.
In the first quarter of this year, China exported 1.07 million vehicles, overtaking Japan for the first time to become the world's top exporter. indicator. In the first ten months of this year, the volume of exports from the country increased by 59.7% compared to the same period last year to 3.92 million vehicles. In the first three quarters of 2023, the export price of one Chinese car also increased from 85 thousand yuan in 2014 to 137 thousand yuan (approximately 19.1 thousand US dollars).
“In 2001, the volume China's automotive value chain exports reached only US$1.56 billion in value, accounting for only 0.65% of the global total. In the first eight months of this year, this figure approached 122 billion US dollars, or 5.5% of the global total,” Wang Xia emphasized.
He added that with the adoption of a number of policy measures to stabilize the economy and stimulating consumption, as well as the gradual restoration of consumer confidence, the Chinese automobile market will have new opportunities for recovery.
