From NASDAQ:

China’s passenger car sales increased by 8.3% in December, with 2.37 million vehicles sold, marking the fifth consecutive month of gains. The annual sales rose 5.3% to 21.93 million, making China the world’s largest auto market amid a tough price war. The country also became the largest exporter of passenger cars, with a record 3.83 million vehicles exported. Sales of pure battery-powered vehicles and plug-in hybrids also showed significant growth.

Sales of electric vehicles increased 20.8% last year in China, with 2023 also marking a record in passenger vehicle exports at 3.83 million. Japan’s passenger car exports stood at 3.5 million for the first 11 months of the year, excluding second-hand vehicles. This marks a significant development for China as it continues to grow its presence in the global auto market.



Read more: China car sales climb 8.3% in Dec, bolstered by price war