China will overtake Japan and Germany this year to become the world’s auto export champion for the first time.

In the first quarter of this year, China exported 1.07 million cars, surpassing Japan (954,000), Germany (840,000), South Korea (750,000) and Mexico (741,000), according to data from the U.S. consulting firm Arrival Platinum. ). Arrival Platinum estimates that China will become the world champion of car exports for the first time this year.

Ariel Platinum predicts that China’s auto sales will reach 20.5 million this year. Among them, 10.5 million vehicles are expected to be produced by domestic manufacturers, accounting for more than half. Chinese companies are also making inroads into the world market with electric vehicles and are increasingly putting pressure on European automakers in their home market.

The latest data from the China Association of Automobile Manufacturers also provides evidence for Ariel Platinum’s prediction. From January to May 2023, auto companies exported 1.758 million vehicles, a year-on-year increase of 81.5%. The export of new energy vehicles was 457,000, a year-on-year increase of 1.6 times.

China is increasingly becoming an auto superpower, Alix Platinum expert Fabian Piontek said on Monday.

The research report by Alix Platinum said that the global auto market will grow again, but the speed will be significantly lower than expected: “In the long run, sales in Europe will be more than 15% lower than before the global outbreak.”

“The era of record profits for German automakers is drawing to a close,” industry experts wrote. Pressure on profit margins is mounting amid cooling world markets and growing competition. The slow decline in battery costs makes it difficult for electric vehicle sales to achieve rapid growth in the next 3 to 5 years, which makes it difficult for electric vehicles to form a cost advantage through mass production.

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