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"At the end of this year, China's automobile imports are expected to exceed 1 million units, a further step from the 1.2 million vehicles in the blowout period." On November 26, at the "14th China Import Automobile High-Level Forum", the General Administration of Customs Supervision Zhou Yachun, director of the Trade Control Division, said.
According to the statistics of the automobile import certificate issued by the customs, in the first ten months of this year, China imported a total of 980,426 vehicles, an increase of 18.6%. Among them, the number of imported cars with a displacement of 2.0 liters and below was 532,587, a year-on-year increase of 24.16%, accounting for 53.9% of the total number of imported cars in the first 10 months; the number of imported cars with a displacement of 2.0 liters to 3.0 liters was 355,071 vehicles, The increase was 5.46%, accounting for 36% of the total imported cars in the first 10 months; the number of imported cars with 3.0 liters displacement and above was 94,677, an increase of 30.29%.
"In 2017, China's auto market showed two characteristics of consumption upgrading and structural adjustment, which also stimulated the development of the imported car market." Ding Hongxiang, deputy general manager of China National Machinery Industry Group Co., Ltd. said in the forum.
According to the "China Imported Auto Market Development Research Report (2017-2018)" issued by SINOMACH (hereinafter referred to as the "Report"), China's imported auto market showed a rapid rebound in imports this year, stocks continued to replenish, and terminal sales were weak. . “As a result of replenishing inventory demand, China’s cumulative imports of automobiles in the first nine months were 884,000, an increase of 18.2% year-on-year. Compared with the negative growth of 3.4% in 2016, it rebounded by 21.6 percentage points, reversing the downward trend in 2015-2016. However, the recovery situation is weak," Ding Hongxiang said.
According to the "Report", in 2017, China's imported car industry inventory is at a relatively stable level, and market supply and demand are in a balanced state. Among them, the industry inventory in September was 3.5 months, returning to the 2012-2013 level; the inventory depth of import distributors in September was 1.23 months, a decrease from the previous month, lower than the reasonable level of 1.5 months.
From the perspective of product types, the most prominent feature of China's imported car market in 2017 is that the growth rate of imported new energy vehicles is relatively fast. The data shows that in the first nine months, China imported 17,000 new energy vehicles, an increase of over 80.3% year-on-year, accounting for 1.9% of the total imports. Among them, Tesla's imports amounted to 13,700 units, a year-on-year increase of 144.3%, which is the main driver of the substantial increase in pure electric import models.
"From the number of imported cars in the first 10 months of this year, Tesla is currently ranked ninth after Infiniti, which is the first time that new energy vehicles have rushed into the top 10 of imported car sales." Zhou Yachun said.
In addition, another feature of China's imported car market this year is that the parallel imported car market is growing rapidly. According to the "Report", in the first nine months of this year, the sales volume of parallel imported cars in China was 124,837, a year-on-year increase of 46.2%, accounting for 14.1% of the total market share of imported cars. Among them, SUV is the absolute main model, and the proportion of pickup trucks, cars and MPVs is below 5%. Most of the large displacement models are in the range of 2.0L-4.0L.
"With the introduction of tariffs on imported cars, such as the gradual reduction of favorable policies, the imported car market, especially the parallel imported car market, will usher in a period of growth." Ding Hongxiang expects that the restocking cycle of China's imported car market will end in 2018, customs imports Both sales and sales will show a single-digit growth trend. The size of the parallel imported auto market will further expand, and the proportion will continue to increase. It will hopefully reach 15% of the total market share of imported cars.