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China automobile imports of 229,000 units '06

Shingo From GAS| January 24 , 2007 16:06 BJT

According to statistics, China imported 22.9 million vehicles last year, an increase of 41% over 2005. The general manager of China Auto Imports Trade Center Ding Hongxiang said that although the domestic auto industry develops rapidly, the import auto market could still be a buyer's market. Total imports volume would increased about 10% over last year.

China has promised 2006 is a deadline of the complete vehicle tariff dropping to 25% after joined the WTO. With the elimination of quotas, tariffs lowered, the foreign investment began to enter in area of automobile sales and automobile finance, and imported cars have made an effective complement of China-made cars. Compared with 2001, China's automobile imports increased by 221% in 2006, a synchronous growth of China's auto output. The demand of imported autos remains a rate of 3% in the domestic car market.

"The demand for Imported car is still large."  said Ding Hongxiang,the general manager of China Auto Imports Trade Center.

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