- CNTV English - CCTV News

China’s imported car market stays strong

11-02-2011 15:29 BJT

Watch Video

Play Video

Car sales overall in China have been slowing of late, but imported cars are seemingly unaffected. Popularity for imported models is as high as ever, despite Chinese carbuyers needing to wait months for their new car, or pay a hefty sum for immediate delivery.

This year’s Beijing Import Auto Expo attracted many visitors. Dealers were happy to discover that demand is outstripping supply for most imported cars.

A car dealer said: "You have to pay 30-50 thousand yuan extra, or wait for at least 3 months for delivery."

For example, the wait list for the BMW X3 stretches until next year for delivery. And there’s simply not enough Audi Q7s, Porsche Cayennes and Land Rovers to meet demand. It’s become common for Chinese carbuyers to pay over 50 thousand yuan on top of the ticket price, for quicker delivery. By the end of the 3rd quarter, most car dealers had met their sales target for the whole year.

With more disposable income, demand for a second car is also growing.

One consumer said: "My first car is a sedan, it’s small and convenient. Now I need a second car to go on trips on the weekends. So I think we need to get a SUV."

But even though the imported car market is still red hot, the growth rate is easing.

Ding Hongxiang, director of China Automobile trading Company, Ltd, said: "Imported car sales are a lot higher than last year, but growth is easing. For example, growth was 40 percent during the first quarter compared with the same time last year, and went down to around 30 percent during the second quarter and only 20 percent during the 3rd quarter."

Experts say, with the slowing growth of the entire car market in China, imported cars are no exception. Imported cars, especially luxury car sales, are starting to reflect the state of the economy. Analysts say, the effects of the car restriction policies on imported cars might become more obvious in the 4th quarter.


Editor:Zhang Rui |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program