just-auto.com

CHINA: Vehicle imports up 72%

By just-auto.com editorial team | 12 October 2006

Vehicle imports into China totalled 147,000 units in the first eight months of this year, according to the Xinhua news agency.

This was up almost 72% on a year earlier. The imports were worth US$4.84bn and most came from Europe, South Korea and the US.

Luxury cars and SUVs with engines of over three litres accounted for 49,000 of the vehicles imported. This was up 110% on a year earlier.

The main buyers of SUVs were described by China's General Administration of Customs as private mine owners, real estate developers and owners of private entertainment businesses.

China lowered import tariffs on cars, cross-country vehicles and mini-buses from 28% to 25% on 1 July.