Imports fall 8% on weaker sedan shipments
The number of passenger vehicles imported to China in May dropped 8 percent from a year ago to 106,400, according to the China Automobile Trading Co., China's largest imported vehicle dealer.
The decline was caused mainly by weak sedan imports, which plunged 21 percent year-on-year to 36,500 units.
MPV imports also slumped 20 percent to about 4,500 units. By contrast, SUV imports remained strong in May, rising 3 percent from a year earlier to 65,400 units.
For the first five months, passenger vehicle imports declined 12 percent year-on-year to 421,300 units, due to weak demand for imported sedans and MPVs.
Automakers that import vehicles into China must pay a 25 percent tariff, a significant disadvantage compared with domestically produced vehicles.
International companies that don't currently produce vehicles in China -- such as Volvo, Renault and Jaguar Land Rover -- are making plans to launch domestic output.
Volvo's new plant in Chengdu will launch in the second half of this year.
MPV imports also slumped 20 percent to about 4,500 units. By contrast, SUV imports remained strong in May, rising 3 percent from a year earlier to 65,400 units.
For the first five months, passenger vehicle imports declined 12 percent year-on-year to 421,300 units, due to weak demand for imported sedans and MPVs.
Automakers that import vehicles into China must pay a 25 percent tariff, a significant disadvantage compared with domestically produced vehicles.
International companies that don't currently produce vehicles in China -- such as Volvo, Renault and Jaguar Land Rover -- are making plans to launch domestic output.
Volvo's new plant in Chengdu will launch in the second half of this year.
