The impact of the 8.12 Tianjin Port Explosions in China upon China’s imported car market keeps emerging. This August, the imports of automobiles in China hit a new low point of the past five years, struck by a significant 37.5% decrease compared with last year, Statistic reflecting the China’s import and export car market shows.
Meanwhile, the sales of imported cars in Chinese market remains on a slowing down decrease. According to the Joint Committee of China’s import and export cars market, the sales of imported cars in this August is down to 68,800 units, a 22.8% drop compared with last August, while that in this July was 63,600 units, a 32% drop compared with the same period of last year.
Even though the rate of reduction did decrease this August, China’s imported car market is far from warming up. In the first eight months of this year, most imported brands still suffer sales declines in Chinese market, which directly leads to various price reduction campaigns in a bid to stimulate consumption. Statistic reflecting the China’s import and export car market shows, the price reductions in the sales of imported cars in this August has witnessed a record-breaking rate of 14.2%, or average 95,000 RMB per unit.
After Tianjin Port’s explosions, reducing inventory and increasing sales reminds the main challenge faced the imported car manufacturers and dealers, said WangCun, a senior marketing manager of SINOMACH AUTOMOBILES CO., during an interview with National Business Daily.
