Volvo to be first to export Chinese cars to U.S.

Volvo announced Monday that it will begin exporting cars to the United States from its plant in Chengdu, China, CNNMoney reports. The automaker, owned by Chinese company Geely Holding Group, plans to import around 1,500 S60 Inscription sedans to the U.S.
 
China is the largest supplier of goods imported into the U.S., with consumers buying more than $425 billion in Chinese products in 2014, the report states. U.S. consumers also like Asian cars; 45 percent of car sales here are from automakers based in Japan and South Korea, although most of those autos are built in U.S. plants.
 
Volvo hasn't set a time table for its importing plans; the report states the high costs associated with importing cars to the U.S. has deterred most automakers from similar plans.

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