Analysis of Chinese Car Imports in 2024

TapTechNews May 27th news, Cui Dongshu of the China Passenger Car Association yesterday analyzed the import volume of Chinese cars from January to April this year, among which it was mentioned that the import of cars from January to April this year is 210,000 units, a year-on-year decrease of 8% and the downward trend continues; The import volume of Chinese imported cars has continued to decline at an average annual rate of about 8% from 1.24 million units in 2017 to only 800,000 units in 2023.

Cui Dongshu emphasized that as the Chinese auto industry continues to strengthen, the electrification transformation has changed the market demand structure, the demand for fuel vehicles continues to shrink, and the demand for imported fuel vehicles has also decreased significantly. With the continuous complexity of international relations, it is still necessary to plan ahead and establish more import models to maintain a reasonable scale of imported cars.

According to the data released by Cui Dongshu that TapTechNews referred to, the current monthly import volume average in 2024 remains at about 50,000 units, and the pressure of continuous shrinkage is relatively large.

Regarding such issues, Cui Dongshu believes in the report that the main reason for the continued sluggishness of auto imports in recent years is the rise of domestic cars and the acceleration of the localization of international brands. Although the continued sluggish auto imports from January to April this year shows a three-year negative growth trend, considering the recent recovery of international auto production, Cui Dongshu believes that there is still great potential to increase the increment of imported cars to promote the recovery of consumption growth throughout the year.