Germany dominates global car export market in 2023

News Image

MG News | December 30, 2024 at 01:01 PM GMT+05:00

0:00

December 30, 2024 (MLN): In 2023, Germany led global car exports with $177.2 billion, followed by Japan at $110.9bn and China at $77.7bn.

Worldwide car exports totaled an impressive $958.7bn, reflecting robust international demand, as reported by Tendata.

This figure signifies a remarkable 25.1% increase compared to $766.3bn five years earlier in 2019.

When looking at year-over-year changes, the total international spending on exported cars rose by 21.5% from $789.1bn in 2022.

The fastest-growing car exporting countries from 2022 to 2023 were Mainland China, with a 73.8% increase, followed by South Korea with a 32.1% rise, and Canada with a 28.6% growth.

The major car exporting companies include Narbada Impex Private Limited, holding a 13.32% share with $8,670.14 million, followed by Sudhir Enterprises at 9.83% with $6,396.63mn, and Hyundai Motor India Limited at 5.41% with $3,522.54mn.

In terms of global ranking, cars were the fourth most exported product by sales value, following crude oil, refined petroleum oils, and electronic integrated circuits.

Overall, cars constituted 4.1% of all international spending on exported goods, an increase from 3.2% in 2022.

The five top exporters of cars in 2023 were Germany, Japan, mainland China, South Korea, and the United States.

Collectively, these five countries accounted for over half (51.9%) of the car exports sold in international markets.

From a continental perspective, European nations led the way, exporting cars valued at $485.2bn, which is 50.6% of total international car sales.

Asian countries followed, contributing 31%, while North American exporters accounted for 16.5%.

Smaller contributions came from Africa (1.2%), Latin America (0.6%, excluding Mexico but including the Caribbean), and Oceania (0.04%, primarily from Australia).

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 141,034.99
304.55M
1.18%
1644.56
ALLSHR 87,318.24
607.11M
1.23%
1057.27
KSE30 43,334.54
168.35M
1.68%
715.94
KMI30 201,116.98
176.63M
2.14%
4209.12
KMIALLSHR 58,357.22
362.26M
1.89%
1080.35
BKTi 38,265.16
18.85M
1.18%
444.89
OGTi 29,938.42
82.25M
6.11%
1723.79
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 114,265.00 117,125.00
113,440.00
-3170.00
-2.70%
BRENT CRUDE 69.52 72.00
69.40
-2.18
-3.04%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 67.26 69.58
67.05
-2.00
-2.89%
SUGAR #11 WORLD 16.20 16.42
16.12
-0.15
-0.92%

Chart of the Day


Latest News
August 01, 2025 at 08:17 PM GMT+05:00

SCRA records Rs.3.74 bn net sale of securities


August 01, 2025 at 05:45 PM GMT+05:00

CCP cracks down on fan manufacturers


August 01, 2025 at 05:19 PM GMT+05:00

PSX Closing Bell: Stronger Than Yesterday


August 01, 2025 at 04:28 PM GMT+05:00

Nishat Group joins hands with Chery to build EVs in Pakistan


August 01, 2025 at 04:18 PM GMT+05:00

Gold price in Pakistan falls Rs100 per tola



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg