China Passenger Car Association (CPCA) has reported a significant drop in Chinese car exports to Israel, which was recently one of the largest markets.
The report for the first five months of 2024 does not specify export data to Israel but lists it among the five markets where exports have sharply declined, along with Australia, Spain, Thailand, and Ecuador. The analysts don't expect export volumes to recover by the end of the year.
The main reasons for the decrease in demand are the threat of Yemeni Houthi terrorism in the Red Sea and the reduction of tax incentives for electric vehicles.
