Summary: Automobile and autopart imports in China in 2013

Gasgoo.com (Shanghai) - In 2013 the Chinese automobile market made a strong recovery, with sales growth returning to the double digits. However, growth among import sales still remains very low.

According to statistics collected from the General Administration of Customs and compiled by Gasgoo.com (Chinese), China imported 1.19 million automobiles (including full knockdown kits) in 2013, representing year-on-year growth of 5.5 percent. That growth rate compares poorly to figures from the previous years. For comparison, import sales growth rates from 2010 to 2012 were 99.1 percent, 40.9 percent and 10.0 percent, respectively. The growth rate is attributed to various macroeconomic factors, high inventory levels, declining interest for luxury vehicles and the government's clampdown on excessive spending for official vehicles.

Looking at individual monthly statistics from 2013, the prevailing trend with import sales was low volumes during the early months of the year which gradually increased until reaching a high of 121,000 units in December. The subpar sales levels during the beginning of the year were attributed to manufacturers and dealerships consuming most of their effort in reducing their inventories, which were well above recommended levels. As a result, there was little effort put in obtaining new imports.

However, beginning in May, following reduction in inventory levels, the import market started to make a recovery. Monthly sales volumes reached 10,000 units and eventually exceeded 120,000 units.

Another interesting aspect about the import market in 2013 was the decreasing price of import automobiles. In 2013 the value of Chinese automobile imports totaled $48.73 billion, only 2.6 percent higher than the $47.44 billion amount from the previous year. The rough average price of imported automobiles fell from $42,000 in 2012 to $40,900 in 2013. Automobile imports were the country's ninth most imported type of goods, behind electromechanical products, advanced technologies, integrated circuits, crude oil, agricultural products, iron ore, LCD displays and primary plastics. By comparison, automobile imports ranked eighth place the previous year.

On the subject of autoparts, Chinese imports and exports of autoparts both increased in 2013, with the latter continuing to outpace the former, increasing the country's trade surplus. Autopart imports grew 10.4 percent and totaled $25.37 billion, while exports increased 13.2 percent and totaled $29.06 billion. The trade surplus increased from $2.7 billion in 2012 to $3.69 billion in 2013.