China, the world’s largest auto market, has surpassed Germany to become the world’s second-largest auto exporter. The country's auto exports have surged in recent years, driven by the growth of its domestic auto industry and the Belt and Road Initiative.
According to data from China's General Administration of Customs, China exported 3.71 million vehicles in 2020, up 18.7% from the previous year. This marks the first time that China has overtaken Germany in terms of auto exports. Germany exported 2.94 million vehicles in 2020, down 22% from the previous year.
China's auto exports have been on a steady rise since 2016, when the country exported 763,000 vehicles. In the following years, the number of vehicles exported grew rapidly, reaching 1.06 million in 2017, 1.25 million in 2018, and 1.67 million in 2019.
The surge in China's auto exports is largely due to the growth of its domestic auto industry. China is now the world's largest auto market, with sales of 25.3 million vehicles in 2020. This growth has fueled the development of China's auto industry, which is now one of the largest in the world.
In addition, China's Belt and Road Initiative has played a significant role in boosting the country's auto exports. The initiative, which aims to connect China with countries across Asia, Europe, and Africa through infrastructure projects, has led to the development of new trade routes and markets for Chinese automakers.
China's auto exports are dominated by passenger cars, which accounted for 74.2% of total exports in 2020. SUVs and commercial vehicles also saw strong growth, with exports up 32.1% and 25.7%, respectively.
Despite the growth of its auto exports, China still lags behind Japan, which is the world's largest auto exporter. Japan exported 4.19 million vehicles in 2020, up 8.9% from the previous year. However, with China's auto industry continuing to grow and the Belt and Road Initiative opening up new markets, it is likely that China will continue to climb the ranks of the world's auto exporters in the years to come.