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According to information provided by the Department of Commerce of the Ministry of Commerce, China’s imports of automobiles and key parts and accessories from January to May this year reached US$7.011 billion, an increase of 29.8% from the same period last year. Among them, 77,693 vehicles (including spare parts) were imported, amounting to 2.427 billion U.S. dollars, up by 7.5% and 23.2% respectively. According to customs statistics, in the first five months of this year, China imported 1.521 billion U.S. dollars worth of key auto parts and imported auto accessories were 3.062 billion U.S. dollars, up 48% and 27.6% respectively. The increase was higher than the amount of imported vehicles. In the first five months of this year, the proportion of cars imported was the highest, accounting for 67% of the total, reaching 52,137 cars, amounting to 1.471 billion U.S. dollars, up 28.2% and 41.3% respectively. Followed by four-wheel drive SUVs, accounting for 17% of the total, reaching 13,197 units, the amount of 441 million US dollars, other imported vehicles include travel minibuses, mobile large (medium) passenger cars, trucks and special purpose vehicles. Due to the increasing number of new models introduced in China, the market squeezing effect on imported cars, especially imported cars, has become increasingly apparent. In May of this year, although the number of vehicles imported from China was 1600 more than last May, reaching 12,900 vehicles, However, it is the month with the smallest number of imports in the five months this year. Since February of this year, the number of imported vehicles has dropped month by month. News Source: Xinhuanet
March 17, 2021