Import of cars to China hit an all-time high in July

Import of cars to China in July increased to a record $ 7billion 400 million. According to The Wall Street Journal, European and Japanese companies took advantage of the reduction from 25% to 15% of the import duty for cars in the PRC, which did not affect the US automakers. According to the data of the customs administration of the People's Republic of China, the deliveries of foreign companies to China rose to 165 thousand cars in July, exceeding the record of 2014 in 134 thousand cars. As reported by the China Association of Automobile Manufacturers, in July, car sales in China decreased by 4% in annual terms to 1 million 890 thousand cars. Sales of freight transport increased by 3.3%, sales of cars fell by 5.3%.

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