China Becomes Top New Car Seller, Surpassing Japan

Expansion into Overseas Markets a Key Factor

Concerns Raised Over "Slowing Growth"

Last year, China surpassed Japan for the first time to become the world's top country in new car sales. This marks the first time since 2000 that Japan has lost its top position in this area.

BYD logo. Photo by Yonhap News

According to a report by the Nihon Keizai Shimbun (Nikkei) on March 22, which cited data from the market research firm MarkLines, Chinese automakers sold approximately 27 million new cars last year, an increase of about 10% compared to the previous year. In contrast, Japanese automakers saw a slight decrease, with sales reaching only about 25 million units.

By company, Toyota Motor Corporation maintained its global lead with sales of 11.32 million units. However, Chinese automakers made significant gains overall. Both BYD and Geely Group surpassed Japan's Honda and Nissan in total sales. Among the top 20 automakers by sales volume, six were Chinese companies, while five were Japanese.

However, there have been recent indications that the growth of the Chinese market is slowing. The Nikkei reported, "Recently, growth in the Chinese market has been decelerating," adding that "BYD's sales in February this year fell by 40% compared to the same month last year."

Analysts say that future trends will depend on whether Chinese automakers can expand further into overseas markets. The Nikkei explained, "Whether the momentum of Chinese cars will continue depends on their ability to enter markets such as Europe and Southeast Asia," noting that Chinese companies are seeking to enhance cost competitiveness by shifting from exporting domestically produced vehicles to establishing local production abroad.

This content was produced with the assistance of AI translation services.