Chinese automakers have captured 54% of the country's wholesale car market in the first half of 2023, up from 48% in the previous year, with NEVs leading the rise.
- Jul 13, 2023, 12:00 PM CDT
China's local manufacturers are now expanding beyond their domestic market, helping the country to surpass Japan as the largest exporter of vehicles in Q1 2023.In China, domestic automakers are starting to overtake Western companies, marking a big win for Beijing's domestic industrial policies and signaling the potential end to decades of dominance by Western automakers.
reported. Tesla was the only foreign automaker on the EV Top 10. The country's focus on EVs since 2009 has turned it from a global"follower" to a global"leader" in the industry. other other automakers would have to learn from China's developing trend if they want to find success in the market. And Honda’s Chief Operating Officer Shinji Aoyama commented earlier this year: “Japanese, American and European automakers all have this sense that they were too late to make the initial moves. We’re now in a phase of trying our best to catch up.”
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