US tariffs slammed the door on Chinese cars? No problem! Chinese automakers flipped the script and climbed to 3rd place globally — right after Germany and Japan.
The numbers don’t lie — 4.7 million cars shipped out of China in 2023, 3x more than 2021! And BYD? They just passed Tesla in global EV and hybrid sales. Some experts even bet they’ll beat Volkswagen and Toyota next.
Instead of fighting losing battles in Europe and North America, China’s car giants turned south — hitting Southeast Asia, the Middle East, Latin America, and Africa. Fast-growing markets with weaker local competition? Perfect match.
In just a few years, Chinese brands grabbed 8% of the Middle East & Africa market, 6% in South America, and 4% in Southeast Asia — according to The Economist.
But they’re not stopping at exports. BYD, Chery, Great Wall, and others are building factories in Brazil, Turkey, Mexico, and more — slashing shipping costs and dodging tariffs along the way.
How does the Chinese government feel about all this? Still unclear. But one thing’s for sure — Japanese, Korean, European, and American brands are watching their backs.
