China sold more cars than the United States in 2023

Washington (EFE).- For the first time in history, Chinese car brands sold more vehicles worldwide in 2023 than their counterparts in the United States, according to a study that also found that Japanese companies still dominate the sector.

Figures contained in the report conducted by the American company Jato Dynamics indicate that sales of Chinese brands amounted to 13.4 million cars last year, compared to 11.9 million for American brands. These two countries were preceded by Japanese brands with sales of 23.59 million.

Worldwide, 78.32 million new cars were sold in 2023, a 10% increase over the previous year.
29.1% of these sales were from Japanese brands, 24.9% from Europe, 17.9% from China, 15.2% from the United States, and 8.5% from South Korea.

“Growth in 2023 is impressive, especially in light of the geopolitical tensions between China and the United States, the instability resulting from conflicts in Europe, and the high interest rates that have persisted in most countries of the Western world,” Felipe Muñoz, an analyst at Jato Dynamics, said in a statement. and higher vehicle prices.

This was the sales breakdown

The region that saw the biggest growth compared to 2022 was Europe, with a 16% increase in sales thanks to the explosion in demand in Turkey, which is already the fourth market on the continent.

In the United States, Canada, Japan and South Korea, the increase in demand was similar, at about 12%, while in China the figure remained at 6%. In Latin America, the increase reached 9%.

Another fact highlighted by the report is that 22% of new car sales in 2023, one-fifth of the total, occurred in emerging markets.

Sales in emerging economies combined reached 17.5 million vehicles, more than in the United States or Europe.
India becomes the world’s fourth-largest single market, with 4.19 million units sold in 2023. Brazil is right behind with 2.12 million, and Iran with 1.43 million. In Mexico, total sales reached 1.3 million vehicles.