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Will imported car market become increasingly rational?

Source: ce.cn | Date: Oct. 10

  • During the National Day holiday, sales of the imported cars powered by a 1.6L or a smaller engine doubled thanks to the halved vehicle purchase tax for passenger vehicles with a 1.6L or a smaller engine. In Aug., a total of 79,000 cars were imported into China, down 37% year-on-year, while the import volume slumped 25.6% year-on-year in the first eight months to 709,000 units.

  • According to one industry expert, the halved vehicle purchase tax will help boost the sales of imported small cars, although the effect is limited. SUVs, particularly large-engined models, have been the major contributor of China's robust imported car sales. Under the combined the effect of stricter emissions standards and crackdown on corruption, such cars are losing their popularity. In the future, large-engined vehicles will continue to play a leading role, with automakers to launch smaller-engined cars to meet diversified consumer needs. The halved vehicle purchase tax demonstrates that China will continue to support the development of new-energy and small-engined vehicles.