China’s home-grown marques delivered more automobiles abroad in July, driving a two-thirds jump in monthly exports that extended the nation’s lead over Japan as the world’s largest vehicle exporter, reports the South China Morning Post.
July’s overseas shipments jumped 63% to 310,000 vehicles from a year ago, raising the total to 2.65 million units in the first seven months of the year, according to data compiled by the China Passenger Car Association (CPCA). Local brands made up 248,000 units, or 80%, of July’s exports, CPCA said.
“Carmakers maintained a growth trajectory for exports and rising demand for Chinese vehicles are encouraging assemblers to ramp up production,” said Gao Shen, an independent analyst in Shanghai. “More Chinese automotive firms are now looking to bolster sales in overseas markets.”
The latest numbers widened China’s 15.8% lead over Japan. China exported 2.34 million vehicles in the first half, more than the 2.02 million Japanese marques reported by the Japan Automobile Manufacturers Association. Japan exported 3.5 million vehicles in 2022.
