In 2023, global car exports reached a staggering US$958.7 billion.

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

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

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.

Leading Car Exporting Countries

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 $485.2 billion, 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).

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

Top 15 Car Exporting Countries in 2023

Here are the 15 countries that exported the highest dollar value worth of cars in 2023:

1. Germany: US$177.2 billion (18.5% of total exported cars)

2. Japan: $110.9 billion (11.6%)

3. Mainland China: $77.7 billion (8.1%)

4. South Korea: $68.3 billion (7.1%)

5. United States: $63 billion (6.6%)

6. Mexico: $57.3 billion (6%)

7. Belgium: $43.1 billion (4.5%)

8. Spain: $40.6 billion (4.2%)

9. Canada: $37.9 billion (4%)

10. United Kingdom: $36.9 billion (3.9%)

11. Slovakia: $33.2 billion (3.5%)

12. Czech Republic: $32 billion (3.3%)

13. France: $24.7 billion (2.6%)

14. Italy: $20.5 billion (2.1%)

15. Hungary: $15.6 billion (1.6%)

These 15 countries together accounted for 87.5% of all car exports globally in 2023.

Fastest-Growing Car Exporting Countries

Among the top exporters, the fastest-growing car exporters from 2022 to 2023 included:

· Mainland China (up 73.8%)

· South Korea (up 32.1%)

· Canada (up 28.6%)

· Hungary (up 28%)

In contrast, the United States saw a more modest increase of 9% from the previous year.

Major Car Exporting Companies

The following companies are recognized as significant players in the car export market from Tendata:

1. NARBADA IMPEX PRIVATE LIMITED: 13.32%, $8,670.14 Million

2. SUDHIR ENTERPRISES: 9.83%, $6,396.63 Million

3. HYUNDAI MOTOR INDIA LTD: 5.41%, $3,522.54 Million

4. CÔNG TY TNHH LG ELECTRONICS VIỆT NAM HẢI PHÒNG: 4.53%, $2,945.05 Million

5. PIAGGIO VEHICLES PRIVATE LIMITED: 3.88%, $2,526.30 Million

6. CÔNG TY TNHH SẢN XUẤT VÀ THƯƠNG MẠI L AND S VIỆT NAM: 3.46%, $2,254.45 Million

7. KIA INDIA PRIVATE LIMITED: 2.9%, $1,884.63 Million

8. MARUTI SUZUKI INDIA LIMITED: 2.22%, $1,446.41 Million

9. GROZ BECKERT ASIA PVT LTD: 1.61%, $1,049.62 Million

10. VOLKSWAGEN INDIA PRIVATE LIMITED: 1.5%, $976.72 Million

These companies are pivotal in shaping the global car export landscape and play an essential role in the automotive industry.

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