China's imported auto market will grow steadily in 2013

It is understood that due to the excessively high expectations of foreign auto suppliers for China's imported auto market, leading to greater supply than demand, domestic imported auto market prices have been fought over and over since 2012, and vicious competition is very serious. However, according to analysis, the total demand for imported cars in China will increase by approximately 10% in 2013, and the Chinese import auto market will grow steadily.

Shen Jinjun, executive vice president and secretary-general of the China Automobile Dealers Association, said at the 9th Forum for Imported Automobiles on the 4th. It is predicted that the total demand for imported cars in China will increase by approximately 10% in 2013.

According to customs statistics, from January to September this year, the number of imported cars reached 873,000, an increase of 22.6% year-on-year. Professionals pointed out that this imaginary high was achieved at the expense of high inventory of manufacturers and dealers, sharp drop in prices, and loss of a large number of dealers. As the high-expected sales target of multinational auto companies and the increase in market demand formed a large decline, resulting in high inventory, price decline, profit decline, individual imported car brands even appeared across the board. Some of the multinational car companies and distributors have a tense relationship.

The EU will greatly subsidize the automotive industry: According to a German media report on November 3, the European Commission is said to be preparing an action plan for many problems in the European automotive industry. The European Commission in Brussels will issue financial subsidies to the R&D departments of automotive companies, and this policy will continue until 2020. The subsidy comes from a total research fund of 80 billion euros.

Through this plan, the European Commission also intends to promote the automobile industry to fully integrate in the future to meet the automotive climate protection requirements. In addition, the committee also requested that the factory be provided with a rescue plan before it is closed to make it acceptable to the community.

As of September, EU vehicle sales have continued to decline for 12 consecutive months. According to data provided by manufacturers, nearly 1.1 million vehicles were sold in September this year, which represented a 10.8% reduction in sales compared with the same period last year. The German market fell by 10.9%, while the Italian market plunged by 25.7%.