Vehicle imports soared 93% in China in 2010
Automakers imported 813,600 vehicles into China last year, a 93 percent increase from 2009 fueled by strong demand for luxury models, reports the Shanghai Daily.
The Shanghai Daily cited statistics from the China Association of Automobile Manufacturers, which estimated the value of vehicle imports at $30.6 billion (201 billion yuan).
Imports of SUVs jumped 69 percent to 351,400 units, while sedan imports doubled to 343,700.
Most imports are luxury brands that generate healthy demand despite China's hefty tariffs.
Last year, China's sales of passenger cars totaled 13.7 million units.
Vehicle exports for the full year were not available. J.D. Power estimates that China exported 510,000 vehicles in the first 11 months of 2010, up 56 percent over the year-ago period.
