Shanghai port sees auto imports decline in 2018

SHANGHAI - Automobile imports via Shanghai port fell 9.8 percent year-on-year to 373,000 last year, according to Shanghai Customs.

The value of total auto imports went down by a narrower 4.7 percent to 110.4 billion yuan ($16.5 billion). The average import price for each automobile, however, rose 5.7 percent year-on-year to 296,000 yuan.

The European Union was the largest source of imports with 60.9 percent, followed with 18 percent from the United States and 16.4 from Japan.

Imports of traditional gasoline-fueled vehicles fell but imports of hybrid electric vehicles grew sharply by 57.4 percent to 4,542 units last year.

Entering into 2019, Shanghai has seen growth momentum of motor vehicle imports in January, with local firms importing via the port 9.6 billion yuan worth of vehicles, up 55.2 percent year-on-year.

US electric automaker Tesla has started delivering its Model 3 cars in China, after over 1,600 of them arrived at a port in Shanghai on Friday.

China sold 28.08 million autos last year, down 2.76 percent year-on-year, according to the China Association of Automobile Manufacturers.