Tianjin is one of China's main entry point for imported cars and after Thursday morning's horrific explosions, thousands of cars are said to be destroyed in the blast.

At least four automakers' vehicles were damaged in the explosion. According to reports from the Chinese media, Volkswagen whose warehouse was located close to the site of the explosion, estimates that around 2,750 vehicles destroyed.

Other reports claims that 4,000 Hyundai and Kia vehicles were destroyed by the blast as well as some 1,500 Renaults. Unfortunately for Korean manufacturers, the cars that were stored there near the explosion site were all the higher-end models. The damaged Renault vehicles, which caught fire in the warehouse and suffered severe damage, have an estimated retail value of at least S$46 million.

Toyota is said to have lost a number of vehicles in the blast but have yet to arrive at a conclusion on how much damage it has suffered.

The explosion devastated huge areas of the city’s port, which is the 10^th largest in the world. Tianjin is one of China’s biggest automobile shipping ports, handling vehicles destined for the northern parts of the country.

The explosion killed at least 50 people and has injured more than 700.

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