Han media: China imported 480,000 cars last year, the lowest level in 16 years!
On February 26, South Korean media "Herald Economic" published an article stating that China's car imports dropped to 480,000 units last year, setting a new low in 16 years.
Lately, CACIA Secretary General Cui Dongshu stated that China's car imports last year were 480,000 units, down 32% year-on-year.
"Nikkei News" reported that this is the first time since 2009 that China's car imports have fallen below 600,000 units, with about 420,000 units in 2009.
Last December, the import decline was even greater, dropping 56% to 30,000 units.
China's car imports reached a peak of 1.43 million units in 2014, and then gradually declined, stabilizing at around 700,000 units per year by 2024.
The top five countries for China's car imports last year were Japan (203,107 units), Germany (104,436 units), Slovakia (51,226 units), the United States (48,549 units), and the United Kingdom (36,393 units). South Korea's car imports were 1,405 units.
Regarding the reasons for the decline in China's car imports, "Nikkei News" reported: "Low-cost Chinese electric vehicles are squeezing the market share of European and American luxury cars."
Chinese automakers are expanding exports and product localization to explore overseas markets. It is predicted that China's car exports this year will reach 8 million units, with 1 million units produced locally.
Original: toutiao.com/article/1858186370959364/
Statement: This article represents the views of the author.