Supply of Imported Vehicles Still Goes down in the Chinese Market
Gasgoo (Shanghai, August 8th)—The segmentofe importd vehicles has still remained in the doldrums with a decrease of 9.35% in the growth rate in the first six months, according to Report on Performance of Imported Automobiles in the Chinese Market in the First Half of 2016.
The supply of imported vehicles has continued to go down for six seasons from the first season in 2015 due to large inventory. There have been 479,000 units of imported vehicles in the first half in 2016, dropping by 8.4% year on year.
The demand of imported vehicles has also continued to decrease, though more slowly than before, due to implementation of governmental policies including purchase tax, N5 displacement standards, and others. Sales of imported vehicles in the first half were 421,000 units with a yearly decrease of 9.3%.
Inventory Index of dealers of imported vehicles was 1.52 and 1.35 in May and June respectively, remaining stable and reasonable.
Discounts on imported vehicles in the end market continue to go up. Discounts, on average, were 79,000 RMB yuan in the first six months, with a monthly decrease of 0.4%.
Encouraged by governmental policies, however, sales of parallel-imported vehicles were 54,548 units with a yearly rise of 9.15%, accounting for 11.2% of the imported vehicles market. And SUVs has turned out to dominate the of parallel-import market.