WASHINGTON, D.C. – Despite the fact that the country does not directly sell vehicles to United States consumers, a new report indicates that Chinese automakers are constituting a growing threat to America, capturing an increasingly large number – and rising – of sales throughout Asia, Europe, and other countries around the world that the U.S. also exports to.
During 2023, China exported over five million vehicles throughout the world, effectively usurping Japan’s place as the number one country for car exports on the entire planet. The output of Chinese automotive companies – from veterans like SAIC and Dongfeng to newer ones such as BYD and Nio – Are responsible for taking the country from the sixth-highest vehicle exporter in the world to number one since 2020.
In contrast, American companies have seen their vehicle exports continuously diminish in recent years, with automakers such as General Motors drastically cutting down their international operations. As per the U.S. Bureau of Economic Analysis’ most recent data, as of 2022 U.S. auto exports saw a 25 present decline from their highest peak, which was originally reached in 2016.
Prior to 2020, America was ranked fourth in the world for vehicle exports, although in 2023 it dropped to sixth place, trailing behind – in order from fifth to first – Mexico, South Korea, Germany, Japan, and China.
CEO of Chrysler parent Stellantis, Carlos Tavares, acknowledged that China has been turning up the heat on his company for some time now during a virtual media roundtable last Friday.
My number one competitor is the Chinese carmakers,” he said. “This is going to be a big fight. There is no other way for a global carmaker like Stellantis that is operating all over the world than to go head-on with the Chinese carmakers. There is no other way.”
Tesla CEO Elon Musk echoed Tavares’ sentiment during The New York Times’ Dealbook conference in November.
There’s a lot of people who are out there who think that the top 10 car companies are going to be Tesla followed by nine Chinese car companies,” he said. “I think they might not be wrong.”
Experts note that Chinese automakers – who boast the advantage of being backed by both local and federal governments – have clawed up the ranks to their current global top spot by designing, producing, and releasing new models of cars in very short time spans, and for low prices. In addition, they are also cracking into the budding electric vehicle market, consistently producing efficient models that have been greatly profitable for them.
Only time will tell who will ultimately cement their place as the top worldwide car exporter, but for the time being China is indeed the king of the mountain.
Christopher Boyle is an investigative journalist, videographer, reporter and writer for SEARCHEN NETWORKS® as well as other independent news and media organizations in the United States. Christopher works on a wide variety of topics and fields, has been featured in print and online in a variety of publications, from local to national, and helps keep a keen-eye on what’s happening in the automotive world for Auto Buyers Market.