Iran Became the Main Importer of Chinese Cars in 2014

China's passenger car market showed sustainable growth, rising from 6.3 million units in 2007 to 19.7 million units in 2014, with a CAGR of 18%. In value terms, it expanded with a CAGR of 21%, reaching 216.1 billion USD in 2014.

In 2014, Iran (20%), Russia (12%), Egypt (7%), Colombia (7%) and Chile (6%) were the leading destinations of China's passenger car exports, together making up 53% of total exports in physical terms. And while the share of Iran increased significantly, the share of Russia illustrated negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In 2014, Japan, the U.S. and Germany were the main suppliers of passenger cars with a combined share of 61% of total imports. However, the fastest growing suppliers from 2007 to 2014 were Belgium (+51% per year), Mexico (+46% per year) and the United Kingdom (+46% per year).

Source: China: Cars - Market Report. Analysis And Forecast To 2020