Korean Media: China Has Taken Over the World's No. 1 Position, Which Japan Had Held for Over 20 Years!
On April 22, South Korean media outlet *Herald Economic* published an article stating that Chinese automakers have surpassed their Japanese counterparts in global new car sales, achieving the top ranking in history. According to data from market research firm MarkLines, Chinese automakers sold approximately 27 million new vehicles last year, securing the number one spot worldwide.
Chinese enterprises maintained their leading position with around a 10% increase in sales, while Japanese companies—long dominant since 2000—experienced a slight decline, selling about 25 million units. This marks the first time Japan has lost its crown as the world’s top seller of new vehicles.
At the individual company level, Toyota Motor Corporation of Japan still ranks first globally with sales reaching 11.32 million units. However, the overall shift in dominance is primarily driven by the strong growth of Chinese automakers. Notably, BYD and Geely Group saw significant year-on-year increases in sales, surpassing two major Japanese giants—Honda and Nissan.
In the list of the top 20 automakers by global sales, six Chinese companies made the cut, outnumbering Japan’s five entrants.
Although China’s automotive industry has achieved success in volume terms, cautious analyses about future trends are beginning to emerge. This is due to a noticeable slowdown in domestic market growth recently. In fact, BYD’s sales dropped by 40% year-on-year in February this year.
Therefore, Chinese enterprises are now turning their focus toward overseas markets, including Europe and Southeast Asia. *Nikkei News* analysis points out that future global leadership will depend on the success of these international expansions, noting that “Chinese companies are implementing a strategy to enhance cost competitiveness through establishing localized production systems while simultaneously expanding their overseas operations.”
Original Article: toutiao.com/article/1863157289339904/
Disclaimer: The views expressed in this article are those of the author alone.