China’s auto production and exports climbed to record highs in 2023 as its domestic market recovered and manufacturers filled the void left by Western companies who pulled out of Russia.
Automakers produced 30.16 million vehicles in China last year, and wholesale deliveries, including shipments to dealers, rose to 30 million, according to the China Association of Automobile Manufacturers. Both figures surpassed previous records set in 2017.
CAAM Vice secretary-general Chen Shihua says, “Price discounts have impacted the market and the recovery of auto consumption is ongoing. Toward the end of the year, the auto market performed better than expected and production and wholesale volumes broke records”.
Russia was the top destination for Chinese auto exports in 2023, receiving more than 841,000 vehicles in the first 11 months of the year, more than twice the number sent to № 2 Mexico. Chinese automakers have taken advantage of the withdrawal of companies including Volkswagen Group and Toyota following Russia’s invasion of Ukraine in early 2022.
SAIC remained China’s biggest auto exporter, while Chery claimed the № 2 spot, boosted by their shipments to Russia. Geely and Changan followed in third and fourth places.
