It is reported that China has surpassed Japan and has become the world's largest exporter of automobiles, far ahead of the United States.
According to the China Passenger Vehicle Association, light vehicle exports will increase by a massive 62% in 2023, making China now the world's largest automobile exporter. Automotive News report.
Last year, China's automobile exports totaled nearly 5.3 million vehicles, with a value of $102 billion. Meanwhile, Japan's automobile export volume reached 4.3 million units in 2023. As Automotive News points out, China's closeness to Russia has helped turn the communist country into an auto powerhouse.
Attendees look at the U8 from Chinese automaker BYD's luxury brand Yanwan at the Shanghai Motor Show 2023 in Shanghai, Wednesday, April 19, 2023. Shanghai Motor Show 2023 reflects fierce competition in China's fast-growing electric car market after the ruling The Communist Party has poured billions of dollars into popularizing the technology. China accounted for two-thirds of global electronics sales last year. (AP Photo/Ng Hang-guan)
“Behind China's auto export surge were Russia, Mexico, other emerging markets, and Europe,” the group said, Automotive News reported.
As Breitbart News reported, China rose to the top in auto exports last year thanks to sanctions against Russia imposed by Western countries, including the United States, after the Ukraine war.
While Western countries pulled out of the Russian car market, Chinese automakers existed to fill the void. By 2023, Russia will be the largest buyer of Chinese-made cars, and six of the top 10 most popular car brands in Russia are now Chinese car manufacturers.
At a Senate hearing Thursday, Sen. Josh Hawley (R-Missouri) said President Joe Biden's tax credits for U.S.-made electric vehicles could end up in the hands of Chinese companies partnering with U.S. automakers. He slammed David Turk, deputy secretary of the Department of Energy, over the incident.
“Why are you interpreting the government's climate change laws to allow tax credits to Chinese companies?” Hawley asked Turk. “So right now, U.S. taxes are literally subsidizing Chinese battery manufacturers. Why would we want to do that? Would we want to pay them to take them away from us? Why does that make sense?
“We're not doing that,” Turk responded.
The reason behind China's monopoly on automobile exports is that Chinese automaker BYD, which receives funding from the Chinese Communist Party (CCP), has overtaken U.S.-based Tesla as the world's largest seller of electric vehicles (EVs). One example is the fact that it has won the position of
Next year, BYD and other Chinese automakers hope to flood the U.S. market with cheaper, subsidized EVs to sell to Americans fed up with Tesla's EVs and their high prices. .
John Binder is a reporter for Breitbart News. Please email jbinder@breitbart.com. Follow him on Twitter here.
