Sales of Imported Vehicles This Year May Exceed 1m

   Date:2011-12-16     Source:puchangpingqulina

Gasgoo.com (Shanghai December 15) - Due to natural disasters, a less receptive market and the phasing out of stimulatory economic policies, the Chinese automobile industry has not been able to sustain the incredible of the past two years. That said, the future for imported vehicles still looks very bright. Several speakers at the recently held Eighth China Imported Auto Forum were keen to emphasize that sales of imported models were growing, the Beijing Morning Post reported earlier this week. Thanks to increased model variety, constantly decreasing vehicle emissions and more expansive dealer networks, sales of imported vehicles have managed to exceed 900,000 this year, 31 percent higher than the amount sold in 2010. Several predict that number to exceed one million by the end of the year.

From the beginning of the year to October, 797,000 vehicles passed through customs, Ding Hongxiang, chairman of China Automobile Trading said. That year-on-year increase of 29 percent is far above the 9.4 percent sales growth rate for domestically manufactured vehicles. Brand construction and emission rates of imported vehicles are changing in response to changing consumer tastes.

The SUV segment is still the driving force behind Chinese imports, accounting for a total of 55 percent of all vehicles imported this year. Despite the natural disasters in Japan earlier this year, sales of SUVs have managed to remain high. Due to consumer preference and favorable government policies, vehicles with engines smaller than 3.0 L were most popular, constituting nearly 80 percent of all vehicles imported.

Luxury vehicles remain one of the strongest markets for imports, with sales of six top manufacturers in the segment increasing over 50 percent.

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