Building back better: China will become the world’s largest exporter of cars
China has reportedly become the world’s largest exporter of cars, surpassing Japan and well ahead of the United States.
According to the China Passenger Car Association, China is now the world’s largest exporter of cars thanks to a massive 62 percent increase in light vehicle exports by 2023, Automotive News reports.
In total, Chinese car exports last year amounted to almost 5.3 million, worth $102 billion. Meanwhile, Japan saw its car exports reach 4.3 million in 2023. As Automotive News notes, China’s close relationship with Russia has helped the communist country become an auto industry powerhouse.
“Russia, Mexico and other emerging markets, along with Europe, were behind the surge in Chinese auto exports, the group said,” Automotive News reports.
Last year, as Breitbart News reported, China rose to the top of auto exports thanks to sanctions on Russia by Western countries, including the US, imposed after the war in Ukraine.
As Western countries withdrew from the Russian car market, Chinese automakers were there to fill the void. In 2023, Russia became the largest buyer of Chinese-made cars and now six of the ten most popular car brands in Russia are Chinese automakers.
During a Senate hearing on Thursday, Senator Josh Hawley (R-MO) questioned Energy Department Deputy Secretary David Turk about President Joe Biden’s tax breaks for US-made electric cars that could end up in the hands of Chinese companies that collaborate with American car manufacturers.
“Why are you interpreting the government’s climate law… to allow tax credits to flow to Chinese entities?” Hawley asked Turk. “So now US tax dollars are literally subsidizing Chinese battery makers. Why would we want to do that? Why would we want to not only give our adversary our supply chains and jobs, but also pay them to take them from us? Why does that make sense?”
“We don’t do that,” Turk responded.
China’s dominance in car exports comes as Chinese carmaker BYD, financially backed by the Chinese Communist Party (CCP), is now the world’s largest seller of electric vehicles (EVs), after taking on US Tesla for the title has been overtaken.
In the coming year, BYD and other Chinese automakers hope to flood the U.S. market with cheap, subsidized electric cars to sell to Americans turned away by Tesla electric cars and their high prices.
John Binder is a reporter for Breitbart News. Email him at firstname.lastname@example.org. Follow him on Twitter here.
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