China's auto imports reached
147,000 units -- worth a total of US$4.84 billion -- in the first
eight months of this year, up 71.8 percent year on year in value
terms.
Statistics from China's General Administration of
Customs (GAC) show that the major sources of vehicle imports are
the European Union, South Korea and the United States. Together
they account for 88.2 percent of China's imports.
Luxury cars and cross-country vehicles - 3.0 litre or
bigger - led the figures. In the eight month period, 49,000 top
line vehicles were imported, up 110 percent year on
year.
Private mine owners, real estate developers and owners
of private entertainment businesses were the main buyers of
cross-country vehicles, according to the GAC.
High consumption tax, high oil prices and a probable
fuel oil tax would not affect the consumption patterns of these
high-income customers, said Jia Xinguang, a well-known auto
industry analyst.
China lowered import tariffs
on cars, cross-country vehicles and mini-buses from 28 percent to
25 percent on July 1.
(Xinhua News Agency October 11, 2006)
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