“The German automotive industry welcomes China’s announcement that from July 2018 it will reduce import duties on vehicles from 25 percent to 15 percent, and also reduce the tariffs on parts from suppliers. This is another important step toward accessible markets and is a positive signal for strengthening international trade.
“In all, 258,400 passenger cars were exported from Germany to China last year. China thus comes in fifth place in the German export statistics, behind the United Kingdom, the United States, Italy and France. Premium vehicles make up a whole 92 percent of the cars exported from Germany to China, making China the third most important destination for German premium vehicles, after the US and the UK.
“Passenger car sales in China amounted to 24.2 million vehicles in 2017, which made it the world’s largest market. The German group brands are in a strong position. One car in five that is registered in China comes from a German manufacturer. For the German OEMs and suppliers China is also most importantly a production location. In 2017, the German manufacturers built 4.89 million passenger cars in China, which accounted for 30 percent of total global production by the German group brands.”