"China Inches Closer to Overtaking Japan as Top Car Exporter"

China narrowly missed surpassing Japan as the world's top car exporter in 2023, with over 70% of its exports being gasoline-powered vehicles, many of which went to Russia and Mexico. The country's new energy vehicle penetration reached 40% of new passenger car sales, significantly higher than in the U.S., and Chinese electric car company BYD outperformed Tesla in overall vehicle production. Chinese car makers are expected to increase their share of the domestic auto market to 75% by 2030, potentially leading to trade disputes, particularly in the case of Chinese car sales to Mexico.