China's Auto Imports Down 31.4% in H1
07 August 2009
English.chinabuses.com:China's auto imports declined 31.4% in the first half of this year due to weak demand amid the global economic crisis, the China Association of Automobile Manufacturers said on Wednesday.
Statistics released by CAAM showed that sales of imported vehicles were 145,900 units in the first half, and that the value of the vehicle imports declined 27% to US$11.9 billion, according to the report.
However, the association said the Chinese government's stimulus measures and a recovering economy will reduce the decrease in imported vehicles to less than 10% by the end of this year, as predicted in January.
Ding Hongxiang, chairman and general manager of China Automobile Trading Co, said auto imports for the whole year would fall to about 370,000 units, as the stimulus measures may fade and the outlook for economy is uncertain. China imported 410,000 automobiles last year.
In the first five months of this year, the country's auto imports dropped 31.9% year on year to 116,000 units, valued at US$4.38 billion in total.
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