China's Automobile Import QTY Over 110,000/Month Since March 2014 (Summary)
(China Customs)
According to China customs statistics, in January-October, China imported a total of 1.185 million automobiles, up 24.5% over last year (YOY as below); worth CNY 310.07 billion, up 28% YOY; average price at 262,000 yuan per unit, up 2.8% YOY. There in October, the import reached 121,000 autos, up 9% month-on-month, up 12.8% YOY. Since March, China's monthly auto import has kept more than 110,000 autos for 7 months.

Main Causes of Auto Import Increase Fast:

(1) Domestic car sales maintained steady growth, demand high for imported cars.

(2) Supportive policies boost new energy vehicles, surged in import;

Considerable Problems:

(1) FTA parallel import of automobiles will be piloted, influence to be watched;

(2) The automobile market stock is high for three consecutive months, imported cars to be more prevailing over the Chinese-branded.

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