Germany, Japan, China and South Korea were the world’s leading car exporters in 2024.
Mexico displaced the United States from the fifth position in this ranking, according to data from the World Trade Organization (WTO) and the Bank of Mexico.
Global auto exports total around US$1 trillion.
Leading car exporters
Automotive vehicle production has changed and will continue to be affected by new industry and consumer trends. Key factors include the development of autonomous and electric vehicles (EVs), the cost and accessibility of energy for their use, and the rise of ridesharing. In addition, the growth of on-demand transportation, related software products, and complex regulations also influence the sector.
These were the world’s top auto exporters in 2024, in millions of dollars and year-on-year growth rates:
- Germany: 174,545 (-1.5 percent).
- Japan: 106,628 (-3.9 percent).
- China: 90,240 (+16.2 percent).
- South Korea: 68,326 (+0.1 percent).
- Mexico: 62,547 (+6.9 percent).
The United States exported automobiles with a customs value of $59.195 billion in 2024, down 6.1 percent compared to 2023, according to Commerce Department statistics.
Trend adjustment
Due to low EV adoption compared to forecasts and pressure on near-term pricing, many original equipment manufacturers (OEMs) have adjusted their spending, production, and product launches. The automotive component supply industry has also taken steps to adapt to this pace.
On the other hand, there are still technological barriers that make it difficult for EVs to reach price parity with internal combustion vehicles.
Some OEMs, especially in North America, have adjusted their EV strategies. Many have postponed or cancelled planned programs. Others have reduced production volumes below previously quoted figures.
In 2024, several trends impacted the industry. Among the most relevant were the cancellation, postponement and reduction of production volumes. These mainly affected electric vehicle programs in North America.