China Trading Center for Automobile Import lately published its 2005 spring report on the nation's market of automobile import.

Statistics showed that during the first quarter China imported a total number of 24,949 motor vehicles, down 51 percent over the same period of the previous year, including 14,965 sedan cars, down 58 percent. Viewed from producers, 79 percent of the total imports and 82 percent sedans were from Japan, Germany and the ROK. Among imported sedans, the average unit price for those from Germany, Japan, and the ROK stood at 36,500 US dollars, 26,300 dollars and 13,600 dollars respectively. Viewed from the types of imported cars, cross-country vehicles were the most popular, with a total number of 7,686 imported during the first quarter, almost at the same level with the previous year. Imported cross-country vehicles priced between 200,000-300,000 yuan were sold well.

Monitoring over prices of 181 models of imported cars indicated basically stable prices during the first quarter. Despite the unified tariff that was lowered to 30 percent, sale prices of imported cars only dropped 0.05 percent. In January and February, as the market gradually recovered, prices of most cars increased slightly. Prices of Japanese cars, in particular, remained quite strong.

The first quarter is a period of transition and adjustment for China's automobile import market, said Ding Hongxiang, general manager of the trading center. Since January 1 this year, China lowered its tariff on imported cars to 30 percent, and issued a series of related rules and regulations. To avoid risks, importers were very cautious in placing orders during last year and the first quarter of this year. This has resulted in the decline of imports.

Ding predicted that the supply of imported cars would rebound in the second quarter, while the prices will remain stable as the market becomes more standardized.

By People's Daily Online