China H1 Auto Import Down 34%, Export Falls 60%
China's auto imports slumped 34 per cent year on year during the first half of 2009 to 141,000 units, while exports plunged 60.21 per cent to 142,400 units, statistics released by the China Association of Automobile Manufacturers (CAAM) showed, reports Asia Pulse.
Sun Yong, deputy general manager of China Automobile Trading (CATC), said that vehicle imports have dropped because ports and auto dealers had built a large inventory by the end of last year.
He added that local dealers have also drastically cut their import orders due to a pessimistic prediction of the future auto market.
According to CAAM data, sport utility vehicles (SUVs) made up to 55% of total vehicle imports in China during the January-June period.