China's accumulative auto imports fell 25.5% of the first eight months of this year, according to the statistics publicized by China’s Customs on September 8. On the other hand, many multinational automobile companies choose to localize production of imported models and even luxury cars, which became a prominent feature of China's auto market of low pace during this year.
The year of 2015 may become a turning point for China's auto market. According to the data of China Association of Automobile Manufacturers, the major economic indicators slowed of automobile industry in the first half. Auto industry overall sales realized a minimal growth but suffered slump in profit and total profit tax compared with the same period of a year earlier. This contrasts with the rapid development of China's auto market a few years ago. In this case, the upcoming fourth quarter of 2015 becomes the last minute for companies fight each other this year.
Automakers including Jaguar Land Rover, Infiniti and Hyundai have launched new models of localized production in Chengdu auto show days ago. More and more multinational companies shift their production line from abroad to China even including luxury car production line.
Beijing Hyundai announced in April to establish its China’s fourth plant in Cangzhou Hebei Province. This project requires an investment of about $1.04 billion with a capacity of 300,000 units whole vehicles and 200,000 units of engines. The new generation of Verna and ix35 production will be localized in the new fatory.
