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Based on the data meticulously compiled by the China Association of Automobile Manufacturers (CAAM) from the General Administration of Customs, the automobile import landscape in China witnessed a notable downturn in August. Specifically, the volume of imported automobiles plummeted to 22,000 units, marking a significant month-on-month decline of 48.0% and an even steeper year-on-year decrease of 50.1%. Correspondingly, the total import value followed suit, dropping to USD 1.43 billion, which translates to a 32.7% decrease from the previous month and a 32.4% slump compared to the same period last year. Cumulatively, from January to August of this year, China imported a total of 267,000 automobiles, reflecting a 16.5% decrease year-on-year. The aggregate import value during this period stood at USD 12.99 billion, experiencing a 19.9% decline from the previous year.
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