崔东树：1-10月进口汽车40万辆 同比下降30%

Core Insights - The Chinese automotive import market is experiencing significant declines, with a 30% year-on-year drop in imports for the first ten months of 2025, totaling 400,000 vehicles [1][4][5]. - The decline is attributed to the rise of domestic brands and the acceleration of international brands' localization efforts, leading to a weak overall demand for imported vehicles, particularly in the luxury segment [1][4][5]. - Despite a slight recovery in October 2025, the overall market outlook remains uncertain, with the luxury car market underperforming in traditionally affluent regions [1][4][5]. Automotive Import Trends - The peak of imported vehicles in China was 1.43 million in 2014, followed by a continuous decline, with imports expected to be only 700,000 in 2024, a 12% decrease from the previous year [4][5]. - In 2025, the import of American vehicles plummeted by 53% year-on-year, with only 42,465 units imported in the first ten months [1][4][5]. - The luxury car market has shown some improvement in October 2025, with brands like Rolls-Royce and Ferrari performing well, particularly in Shanghai [1][4][5]. Monthly Import Dynamics - The monthly import data indicates a slight increase in October 2025, with 43,000 vehicles imported, a 6% increase from September, but a 0.5% decrease year-on-year [1][4][5]. - The overall trend shows a continuous decline in imports, with a significant drop in various vehicle categories, including passenger cars and commercial vehicles [4][5][11]. Vehicle Import Structure - Passenger vehicles account for 98% of total imports, with a notable decline in the import of traditional fuel vehicles, while the share of electric vehicles remains low [11][12][14]. - The import structure indicates that gasoline vehicles dominate, but there is a gradual increase in the share of diesel vehicles in the commercial segment [12][14][15]. Country-Specific Import Characteristics - Japan, Germany, and the UK remain the primary sources of imported vehicles, with Slovakia showing recent growth in imports [18][19]. - The impact of tariffs on American imports has been significant, contributing to a decline in the number of vehicles imported from the U.S. [18][19].