In 2023, China's automotive industry produced approximately 26.1 million passenger cars.
Why Asia Pacific?
China did not only produce the most passenger cars in the Asia-Pacific region in 2021, but was estimated to produce the most passenger cars throughout the entire world in 2021. It is also anticipated that Chinese manufacturing companies such as BYD Auto Co. Ltd. will overtake the likes of America-based manufacturer Tesla in the electric car segment.
Manufacturer collaborations
China has implemented a strong culture for joint ventures in the automotive industry. The leading car manufacturers worldwide, including General Motors, Nissan, Peugeot, and Volkswagen all have joint ventures with Chinese carmakers, including the Big Four Chinese auto manufacturers. SAIC Motor Corporation Limited (informally SAIC, formerly Shanghai Automotive Industry Corporation), Chang'an Automobile, FAW Group Corporation, and Dongfeng Motor Corporation are counted among China’s leading motor vehicle manufacturers. Its joint venture policy has helped China become Asia’s main producer of automobiles, ahead of Japan and South Korea. Unlike China, these two countries have had strong domestic automotive sectors of their own for many decades and are home to some of the most valuable automobile manufacturers worldwide, such as Toyota, Honda, and Hyundai.
Number of passenger cars produced in the Asia-Pacific region in 2023, by country or territory
(in 1,000s)
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OICA. (March 14, 2024). Number of passenger cars produced in the Asia-Pacific region in 2023, by country or territory (in 1,000s) [Graph]. In Statista. Retrieved October 03, 2024, from https://www.statista.com/statistics/269622/passenger-car-production-in-asia/
OICA. "Number of passenger cars produced in the Asia-Pacific region in 2023, by country or territory (in 1,000s)." Chart. March 14, 2024. Statista. Accessed October 03, 2024. https://www.statista.com/statistics/269622/passenger-car-production-in-asia/
OICA. (2024). Number of passenger cars produced in the Asia-Pacific region in 2023, by country or territory (in 1,000s). Statista. Statista Inc.. Accessed: October 03, 2024. https://www.statista.com/statistics/269622/passenger-car-production-in-asia/
OICA. "Number of Passenger Cars Produced in The Asia-pacific Region in 2023, by Country or Territory (in 1,000s)." Statista, Statista Inc., 14 Mar 2024, https://www.statista.com/statistics/269622/passenger-car-production-in-asia/
OICA, Number of passenger cars produced in the Asia-Pacific region in 2023, by country or territory (in 1,000s) Statista, https://www.statista.com/statistics/269622/passenger-car-production-in-asia/ (last visited October 03, 2024)
Number of passenger cars produced in the Asia-Pacific region in 2023, by country or territory (in 1,000s) [Graph], OICA, March 14, 2024. [Online]. Available: https://www.statista.com/statistics/269622/passenger-car-production-in-asia/