News summary
From January to April 2024, China's automobile imports fell to 210,000 units, a year-on-year decrease of 8%, continuing the downward trend since 2017. The electrification transformation has led to shrinking demand for fuel vehicles, and the imported fuel vehicle market has further shrunk.
Newsletter text
[China's automobile imports fell by 8% to 210,000 units from January to April 2024] According to the latest data, in the first four months of 2024, China's automobile imports reached 210,000 units, down from the same period last yearpowerballwinningnumbersforsaturday8%. This trend continues the downward trend since 2017, when imports reached 1.24 million units, but by 2023 it has dropped to 800,000 units, with an average annual decline of about 8%.
Expert analysis pointed out that the electrification transformation of China's automobile market is reshaping the demand structure, resulting in a continued decrease in demand for traditional fuel vehicles, and the market for imported fuel vehicles has also shrunk accordingly. In addition, the complexity of the international political and economic situation also requires China to explore more import models to maintain a reasonable market size for imported cars.