In 2009, China became the world’s largest motor vehicle market when its total volume for the year reached 13.5 million units. Thereafter, it remained at the very top position, increasing volumes each year, and 2023 was no exception.
According to the China Association of Automobile Manufacturers, new vehicle sales increased by 12% to 30.09 million vehicles.
Now world’s top exporter as well
While final numbers have still not be confirmed, the China Passenger Car Association has made an initial announcement that the volume of vehicles exported in 2023 was 5.26 million units, an increase of 56% from 2022.
This means that China has taken over as the world’s largest vehicle exporter as well, overtaking Japan which is believed to have exported 4.3 million vehicles.
