ZoZo Go LLCChina's Finance Ministry has announced plans to reduce duties on imported vehicles from 25 to 15 percent. In fact, the promised reduction in Chinese duties is akin to offering baseball fans discounted tickets to a ballgame in the 9th inning when the game is basically over. Imports accounted for just 3 percent of the 28 million vehicles sold in China last year. But mass market brands like Chevy, Nissan and Volkswagen will not be able to compete against the products they already build inside China. According the the China Association of Automotive Manufacturers, there is current capacity to build 37 million vehicles a year.

Source: Forbes May 22, 2018 17:46 UTC