Despite manufacturers such as Audi having been the subject of anti-monopoly investigations, the import automobile market in China is still maintaining a healthy growth rate. According to statistics, there were 681,000 automobiles imported to China over the first half of the year. The figure represents year-on-year growth of 29.5 percent.
The monthly average for imported automobiles in the country has been over 100,000 vehicles. SUVs remain the most popular imported vehicle type in China, accounting for over 60 percent of all automobiles imported over the first half of the year. Sales growth in the SUV segment has exceeded those of both the sedan and minivan segments.
Commenting on the issue, Sinomach Automobile Senior Manager of Marketing Wang Cun commented that the sales growth in the segment was not only due to relatively low sales figures last year, but is related to the strong state of the economy in China.
According to statistics, combined sales growth for the 20 best performing manufacturers over the first six months of the year was 23.5 percent.
Thanks to the strong sales performance in the segment this first half of the year, Sinomach has raised its 2014 sales growth expectation for the imported automobile market from seven percent to 15 percent. However, Sinomach also pointed out that this increased growth rate will not dramatically reduce the risk of inventory or profit concerns for automobile dealerships.
Mr. Wang added that the introduction of new automobile financing policies has helped restore customer confidence and generally improve the overall performance of the market.
BMW and Mercedes-Benz led the import automobile markets, followed by Land Rover and Jeep. Land Rover and Jeep's performances were both very commendable, with their respective sales totaling 56,000 vehicles and 47,900 vehicles.
