China's Auto Imports Hit a Record High
Posted: 09/11/2014 09:09:23 Edited: 09/11/2014 10:09:23 Clicks: 2116
It was reported from Information Ministry of Imported Cars Working Committee that the number of imported cars in July exceeded 130,000 for the first time, which was the highest record in a single month. However, only 89,000 units were sold and the growth rate slowed down to 10.9%.
According to the statistics of National Machine Automobile Trade, the Customs imported 137,400 cars in July, increasing by 24.6% and achieving a new record. Zheng Hui, the official of Imported Cars Working Committee, analyzes that influenced by supply growth and new product launches in the first half year, the overall market supply will continue to increase.
The market demand has declined compared with last year. The sales of imported vehicles was 89,000, 13,000 less than the former month. Excluding normal seasonal factors, Zheng Hui analyzes that it was mainly due to antitrust investigation, which encouraged consumers to pend purchases. This inhibited the sales of imported cars to some extent.
It is worth noting that the imported cars inventory in July reached 3-4 months, sharply rising compared with the same period in 2013. Thus, the inventory risk is increasing. Based on the trend of import car inventory in the first half year, Zheng Hui pointed out that the unbalance of demand and supply is rising the import car industry inventory risks, as well as bringing larger pressure to dealers. However, with the introduction of national policies, the production adjustment of automobile manufacturers and the gradual transformation of consumers’ purchase attitude, the risk may be partly improved,
Zheng Hui also disclosed that the discount rate of imported car market was overall smooth after July. The average discount is 50,000 yuan, namely 7.5% of preferential margin. Among them, cars and SUV models further increase the average discount rate. Some D-Class sedans even decline 220,000 yuan. Mercedes-Benz S-Class and Land Rover Range Rover D-Class transfer to preferential sales.
According to the statistics of National Machine Automobile Trade, the Customs imported 137,400 cars in July, increasing by 24.6% and achieving a new record. Zheng Hui, the official of Imported Cars Working Committee, analyzes that influenced by supply growth and new product launches in the first half year, the overall market supply will continue to increase.
The market demand has declined compared with last year. The sales of imported vehicles was 89,000, 13,000 less than the former month. Excluding normal seasonal factors, Zheng Hui analyzes that it was mainly due to antitrust investigation, which encouraged consumers to pend purchases. This inhibited the sales of imported cars to some extent.
It is worth noting that the imported cars inventory in July reached 3-4 months, sharply rising compared with the same period in 2013. Thus, the inventory risk is increasing. Based on the trend of import car inventory in the first half year, Zheng Hui pointed out that the unbalance of demand and supply is rising the import car industry inventory risks, as well as bringing larger pressure to dealers. However, with the introduction of national policies, the production adjustment of automobile manufacturers and the gradual transformation of consumers’ purchase attitude, the risk may be partly improved,
Zheng Hui also disclosed that the discount rate of imported car market was overall smooth after July. The average discount is 50,000 yuan, namely 7.5% of preferential margin. Among them, cars and SUV models further increase the average discount rate. Some D-Class sedans even decline 220,000 yuan. Mercedes-Benz S-Class and Land Rover Range Rover D-Class transfer to preferential sales.
