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.
For businessmen around the globe, China, with the strong purchasing power of consumers, means a huge potential market to tap. To facilitate your businesses in the country, BPOVIA Ltd is always ready to provide you with the most professional services in consultation and virtual assistants.
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According to analysts and forecasts, China may become the world’s largest auto market since its monthly sales in January has surpassed the United States’, which reached about 790,000 vehicles.