China snatches leadership from Japan to become the world’s largest car producer

Emerging Chinese car brands have succeeded in turning the tables and snatching leadership from the Japanese.

According to Bloomberg, the global auto industry has witnessed a radical transformation. Japan’s share of global production has fallen from 22% in 1998 to 11% in 2023.

China has also become the world’s largest car producer with a share of 39%.

This shift came at the expense of prominent Japanese brands such as Toyota, Honda, and Nissan, which lost significant shares in important markets such as China and Southeast Asia, while Chinese brands such as BYD and Geely have flourished, achieving significant gains.