Analysis of China's Auto Import Situation in 2024

TapTechNews July 26th news, Cui Dongshu, the secretary-general of the Passenger Car Association, wrote in an article today that from January to June 2024, China imported 332,000 vehicles, a year-on-year decrease of 4%. In June, 61,000 imported vehicles were imported, a year-on-year decrease of 2%, and a 3% decrease from May.

Cui Dongshu disclosed that the Chinese market peaked at 1.43 million imported vehicles in 2014 and then declined. It has continued to decline at an average annual rate of about 8% from 1.24 million in 2017 to only 800,000 in 2023, a year-on-year decrease of 10%. Currently, the monthly import volume in 2024 remains at around 50,000 vehicles per month.

TapTechNews learned from the report that from January to June 2024, China imported 332,000 vehicles, a year-on-year decrease of 4%. In the import structure, passenger cars accounted for 98% of the absolute dominant position. Among them, from January to June 2024, 144,000 imported sedans accounted for 44%, and 107,000 imported four-wheel-drive SUVs accounted for 33%, while 12,300 unlisted motor vehicles of new energy vehicles accounted for 4%.

Cui Dongshu said that the import countries of passenger cars in China are still centered around Japan, Germany, and the United States. Recently, Hungary's import performance is relatively strong, while Slovakia's import volume has slightly decreased.

In June 2024, the highest imports were 19,428 from Germany, 17,648 from Japan, 10,612 from the United States, 3,566 from Slovakia, and 3,109 from the United Kingdom. From January to June 2024, the highest imported vehicles were 99,782 from Japan, 87,283 from Germany, 56,725 from the United States, 27,384 from Slovakia, and 24,159 from the United Kingdom.