News summary
China's auto imports fall 8%thesandboxcryptogameIn the first four months of 2024, only 210,000 vehicles were imported, and the market demand for fuel vehicles shrank.
Newsletter text
China's automobile imports dropped 8% to 210,000 units in the first four months of 2024
According to the latest analysis by Cui Dongshu, Secretary-General of the Passenger Transport Association, the import volume of China's imported car market has gradually declined from 1.24 million units in 2017, with an average annual decline of nearly 8%. As of 2023, the import volume has shrunk to 800,000 units. From January to April 2024, China's automobile imports further fell to 210,000 units, a year-on-year decrease of 8%, indicating that the imported car market continues to be sluggish.
With the continuous development of China's automobile industry and the advancement of electrification transformation, the market demand structure has undergone significant changes, and the demand for fuel vehicles has gradually shrunk. This directly affected the demand for imported fuel vehicles, causing it to show a significant downward trend. Against the background of increasingly complex international relations, establishing a diversified import model has been put on the agenda to maintain a reasonable size of the imported car market.