China Exported Over 2 Million Cars In 1H Of 2023, Chery And BYD Fastest-Growing Brands

Chinese automakers exported over 2 million vehicles in the first half of this year alone!

For the first half of 2023, Chinese carmakers have exported a total of 2.14 million vehicles, thus marking a staggering 75.7% year-on-year increase, reports CarNewsChina.com. According to the site, said figure was disclosed by the China Association of Automobile Manufacturers (CAAM).

Diving into specifics, 1.78 million from said figure comprised of passenger cars, with this segment alone marking an equally staggering 88.4% year-on-year increase. Amongst them were 534,000 units of ‘new energy vehicles’,  with this sub-genre alone also charting a mammoth 160% year-on-year growth.

Said growth saw 'New Energy Vehicles' like the GWM Ora Good Cat exported in high numbers.

Prior to 2021, Chinese vehicle exports hovered around the 1 million units mark annually. Things shifted into high gear when it broke the 2 million units threshold in 2021, and exceeding 3 million units by the end of 2022.

Given this rate, CAAM’s Executive Vice President and Secretary-General Fu Bingfeng implies that Chinese vehicle exports could exceed over 4 million units at the end of this year.

Amongst the fastest growing brands in the 1H of 2023 were BYD and Chery.

For these exports, Asia, Europe, and Latin America stand as the main markets. Between January and May this year, the top three importers of Chinese-made vehicles were Russia, Mexico, and Belgium. As for Chinese-made new energy vehicles, Belgium, the UK, and Thailand stood as the top three importers.

As to who were the big movers and shakers, two brands stood out most, those being Chery and BYD. Both brands were the fastest growing in the first half of the year, exporting 394,000 units and 81,000 units respectively.

In Malaysia, both the BYD and Chery brands have found strong footholds for themselves recently.

Both the Chery and BYD brands have also found strong footholds here in Malaysia. Through partners Sime Darby Motors, BYD has established its own niche in the local electric vehicles (EVs) marketspace through its sole Atto 3 crossover SUV offering. Also, the brand's line-up will soon grow with addition of the Dolphin hatch.

As for Chery, the marque has successfully relaunched itself into the local market, bringing forth the Omoda 5 and Tiggo 8 Pro crossover SUVs that have charted strong initial sales too. Like BYD, Chery is also set to enter the local EV space soon following plans to introduce the EV version of the Omoda 5 model in 2024.