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China topped the list of the world’s largest car exporters in 2023 for the first time in its history thanks to its car exports to Russia, according to the Chinese Ministry of Industry.
The ministry confirmed that China exported 4.91 million cars in 2023, becoming the largest exporter of cars in the world.
The Wall Street Journal indicated that the main reason behind China topping the list is the significant increase in demand for Chinese cars in Russia.
The head of the Russian Automobile Dealers Association, Alexei Podchikuldin, confirmed in statements to TASS that Chinese cars now occupy 50% of the Russian car market.
He said: “Chinese car brands represent 50% of the Russian car market,” noting the presence of 60 Chinese car brands in Russia.
The volume of trade between Russia and China doubled. In light of Western sanctions, Moscow redirected its exports to China, the countries of Asia, and the rest of the world, and also increased its imports from them, in the context of completely dispensing with any dependence on the Western economy and the sanctions countries. This was confirmed by Foreign Minister Sergei Lavrov yesterday, Thursday.
Source: Agencies