Auto Imports Soar in 1st Quarter
According to statistics released by the China Association of Automobile Manufacturers, China imported 103,200 vehicles in the first quarter this year, a 74.54% increase year on year.
A total of 28,534 off-road vehicles with 3.0-liter engines or above, with an average unit price of $40,900, were imported in the first quarter, soaring 262.57% compared with the same period in the previous year.
In addition, the country also imported 16,624 cars with 3.0-liter engines or above during the period, up 75.28% year on year. The average unit price reached a higher $57,900. Imports of luxury auto brands such as Lexus, Mercedes-Benz, BMW, Volkswagen, Volvo and the latecomer Infiniti, increased a sharp 82% in the first quarter.
“Buying imported vehicles as a second option is a growing trend among affluent people,” said Xu Di, director of marketing department at China Automobile Trading Co Ltd.
In terms of sales, a Guangzhou-based Audi dealership witnessed a 230% year-on-year sales growth in the first quarter. Huang Weiwen, marketing director of the distributor, pointed out the luxury car market is slightly affected by economic depression and high-end consumers’ consumption temptation is also not very seriously impacted by the gloomy stock and property markets.
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