From January to April China exported 278,940 units, up 24% compared to the same period last year, according to China Association of Automobile Manufacturers.
Exports of passenger and commercial automobiles rose with 26% and 21%. In March and April both Chinese auto imports and exports increased around 30%. In April 88,051 vehicles were imported, up 21.9% compared to 2011, being the fourth month in a row with import growth exceeding 20%.
“Looking at the import market this April, [we see] a noticeable contradiction. On the one hand, import automobile [sales] numbers are still experiencing non-stop growth, while on the other, dealerships are continuing to suffer. The number of promotional offers [they are introducing to] the market is increasing, while [their] profits are continuing to fall. Inventory concentration has already reached its highest amount in a year,” said Wang Cun, head of CATC’s marketing and sales division.
Mr. Wang believes that increasing inventories will bring slow import growth in the latter half of the year. Although import growth rates are lower this year, they could still be considered high due to manufacturers introducing several new models to China.