Discounts help lift sales of vehicle imports
Strong sales in the fourth quarter that were helped by price discounts saw vehicle imports grow 7.3 percent to 1.17 million last year, according to China Automobile Trading (CAT) Co Ltd.
Imported vehicle registrations reached 1.11 million in 2013, up 12.6 percent.
A slowdown in the market for imported vehicles “started in the second half of 2012, as automakers adjusted their product supply because of the domestic market environment. The market touched bottom in the first half of 2013,” said Wang Cun, a senior manager of CAT. CAT, the country’s largest vehicle importer, noted that first-half imports slumped 10.7 percent to 526,000.
Sport utility vehicles remained dominant among imports, with 61.9 percent of overall sales.