China sees increase of SUV imports in the first seven months

Shanghai. August 20 (Gasgoo.com) – China imported 23,000 units of luxury cars via Guangzhou Customs, up 79.5 percent from a year earlier, according to statistics from Guangzhou customs.

Total value of these imported luxury cars reached 800 million, up 48.4 percent from a year earlier, according to the statistics. It is worth noting that the bulk of imported luxury cars are Sports Utility Vehicles or SUVs.

Last year, China released regulations to curb the imports of large displacement vehicles. However, China's home demand of luxury vehicles is very high and the increases of luxury SUV vehicles are significantly higher than other vehicle types.

To obtain a place in Chinese SUV markets, world-famous SUV brands swarmed to Chinese markets to compete with one another.

Volvo has announced recently that its luxury SUV XC90 will come to China soon with a market price of 818,000 yuan ($110,000).

In January this year, BMW's new X3 has come to China. Lexus RX400h, Subaru Tribeca, Volvo XC902.5T and Acura MDX and many other luxury SUV brands has come to Chinese market one after another.

Mid-term reports from world major SUV makers show their SUV brands have posted a remarket sales increase in Chinese market in the first half year.

Since Chinese consumers are not sensitive to high prices of luxury SUVs, tax adjustment will little impact on China’s imported SUV market.