BUSINESS Car imports tumble 87%


Car imports tumble 87%

Global Times - Reuters

14:43, August 07, 2018

Chinese car imports declined 87.1 percent in June from a year earlier to 15,000 vehicles as automakers delayed shipments before tariff cuts on foreign-made vehicles took effect last month, according to an industry association.

The data from the China Automobile Dealers Association (CADA), which was reported by local media on Monday, also showed that overall sales of imported cars during the first half of 2018 fell 22.1 percent year-on-year to 451,971 vehicles.

The CADA released the June data last week, but it has yet to release the July figures. 

China has cut import tariffs on foreign-made vehicles and auto parts to 15 percent from 25 percent, starting on July 1.

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