According to British analytical firm JATO Dynamics, the global automotive market in 2023 saw significant growth for Chinese car manufacturers. Chinese corporations sold a total of 13.43 million vehicles, surpassing both the United States and Germany to become the second largest car market in the world. Chinese companies primarily sold Japanese cars, with the Middle East being the region with the highest demand. Interestingly, Russia, expected to become the largest foreign market for Chinese carmakers, was not mentioned in the analysis.

An important trend in the global automotive market in 2023 was the record-breaking sales of luxury cars and crossovers, which accounted for over half of the luxury car market. Leading manufacturers in this segment included Tesla Model Y, Toyota RAV4, and Honda CR-V. The top 25 best-selling vehicles featured models from Toyota, Honda, BYD, Nissan, Volkswagen, Hyundai, and Tesla.