Business

China became the world’s biggest exporter of vehicles in 2023, according to the China Passenger Car Association. The association thinks that China exported nearly 5.3m vehicles last year, accelerating it past Japan, which is thought to have sold 4.3m vehicles abroad. Petrol-powered vehicles accounted for the bulk of the exports (notably to Russia), but electric vehicles are taking a growing share of China’s overseas market. The CPCA reckons that 6.1m full-electric vehicles were sold in China last year, up by 22% from 2022.