(Yicai) Jan. 19 -- China, the world’s biggest auto manufacturer, increased its vehicle exports by nearly 60 percent last year to exceed all other countries for the first time, an industry vice minister said.

China shipped 4.9 million cars abroad in 2023, up 58 percent from the year before, Xin Guobin announced at a press conference today. Exports of new energy vehicles surged 78 percent to 1.2 million units, Xin noted, adding that battery exports soared 87 percent to 127.4 gigawatt hours.

Both China’s auto production and sales surpassed 30 million for the first time. The nation manufactured 30.2 million vehicles, a 12 percent increase, and sold 30.1 million, a similar rise. 

The country was the world's largest car producer for the 15th straight year in 2023. Retail sales of vehicles tallied CNY4.9 trillion (USD688.4 billion), accounting for 10 percent of the total retail sales of consumer goods. The industrial value added of big auto manufacturers jumped by 13 percent, making an important contribution to the country's stable economic growth.

China also remained the world's biggest NEV market, producing 9.6 million and selling 9.5 million last year, respective increases of 36 percent and 38 percent. NEVs made up almost 32 percent of all passenger cars sold. 

But consumer demand for China-made NEVs is still not strong enough and producers are still up against unfavorable external factors, including protectionism in some countries and regions, Xin said. Most Chinese NEV makers are not yet profitable, he added, saying that they have shortcomings in auto chips and face some disorderly competition, which China needs to resolve.

Editor: Emmi Laine