The balance of power in the global car market is shifting, with imports of cars and automotive parts from China into the European Union surpassing EU exports to China for the first time, according to an analysis by consultancy EY.
Exports of cars and parts from the EU to China fell by 34% last year to €16 billion ($18.5 billion), the report said. Since 2022, exports have more than halved.
At the same time, imports from China rose by 8% to €22 billion, turning an export surplus into a deficit within just a few years.
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