In 2023, the total global expenditure on Car Imports amounted to an impressive US$970.9 billion.

This figure accounts for 4.1% of the overall imports of all products, which totaled $23.542 trillion in 2023, up from 3.1% the previous year.

Since 2019, the total value of Car Imports by all countries has risen significantly, reflecting an average growth of 24.1%, as cars purchased on the international market were valued at $782.5 billion at that time.

In terms of year-over-year performance, the value of imported cars surged by 21.9% compared to $796.6 billion in 2022.

The top five countries leading the way in Car Imports are the United States, Germany, United Kingdom, France, and mainland China. Together, these major buyers accounted for 45% of the global expenditure on imported cars in 2023.

From a continental standpoint, European nations led the market with $444.2 billion spent on imported cars, making up 45.8% of the global total. North America followed with 27.5%, while Asia contributed 19.1% of the international spending.

Smaller shares came from Oceania (3%, primarily from Australia and New Zealand), Latin America (2.7%, excluding Mexico and including the Caribbean), and Africa (2.1%).

For reference, the Harmonized Tariff System code prefix for cars, including station wagons, is 8703.

Top Car Importing Countries

The following is a list of the 15 countries that imported the most valuable cars in 2023:

1. United States: US$210.3 billion (21.7% of imported cars)

2. Germany: $78.1 billion (8%)

3. United Kingdom: $56.5 billion (5.8%)

4. France: $46.3 billion (4.8%)

5. Mainland China: $45.9 billion (4.7%)

6. Belgium: $43.3 billion (4.5%)

7. Canada: $38.6 billion (4%)

8. Italy: $36.4 billion (3.8%)

9. Australia: $24.2 billion (2.5%)

10. Spain: $23.6 billion (2.4%)

11. Türkiye: $18.2 billion (1.9%)

12. Mexico: $17.7 billion (1.8%)

13. United Arab Emirates: $16.1 billion (1.7%)

14. Netherlands: $15.2 billion (1.6%)

15. Poland: $15 billion (1.5%)

Together, these 15 countries represented 70.6% of the total Car Imports globally in 2023.

Among these nations, the fastest-growing markets for Car Imports from 2022 to 2023 included Türkiye (up 127.9%), Mexico (up 60.5%), Italy (up 42.3%), and Spain (up 35.3%).

However, two of the major buyers experienced declines in their imported car purchases: mainland China (down 12.1% from 2022) and the United Arab Emirates (down 6%).

Major Car Importing Companies

Here are some notable companies involved in Car Imports from Tendata:

1. CÔNG TY TNHH LG ELECTRONICS VIỆT NAM HẢI PHÒNG: 2.16%, $1,217.52 Million

2. CÔNG TY CỔ PHẦN SẢN XUẤT VÀ KINH DOANH VINFAST: 2%, $1,127.17 Million

3. ТОО АЛМАЗ КЕРАМИКС DIAMOND CERAMICS: 1.69%, $953.16 Million

4. CÔNG TY Ô TÔ TOYOTA VIỆT NAM: 1.45%, $817.81 Million

5. CÔNG TY TNHH FORD VIỆT NAM: 1.09%, $613.14 Million

6. CÔNG TY CỔ PHẦN SẢN XUẤT Ô TÔ HYUNDAI THÀNH CÔNG VIỆT NAM: 0.99%, $555.64 Million

7. CÔNG TY TNHH MTV SẢN XUẤT Ô TÔ THACO MAZDA: 0.89%, $501.77 Million

8. ДОНСКОЙ ГОРНО ОБОГАТИТЕЛЬНЫЙ КОМБИНАТ ФИЛИАЛ АКЦИОНЕРНОГО ОБЩЕСТВА ТН: 0.87%, $492.31 Million

9. JV SAMARKAND AUTOMOBILE FACTORY LLC: 0.82%, $459.88 Million

10. ПІДПРИЄМСТВО З ІНОЗЕМНИМИ ІНВЕСТИЦІЯМИ ТОЙОТА УКРАЇНА: 0.71%, $398.31 Million

These companies play a crucial role in the international Car Imports market, influencing trends and values in the automotive sector.

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