[Industry Alert] The Growth of Automobile Import and Export in China will Slow D

According to the report from General Administration of Customs, influenced by the depression market for import and export automobiles, the growth of automobile import and export in China will slow down.

Upon the Customs statistics, the first 11 months in 2008, China imports 373 thousands automobiles with the price of 13.87 billion dollars, which rise 35.6% and 45% accordingly. In November 2008, China imports 33 thousands automobiles, a rising of 3.2%, but drops 39.2 percentage points compared with that in 2007.

In this report, the automobile market in foreign countries is in depression, and China’s automobile market also in the same condition. In November, the sales of passenger vehicles drops 10.3%, and the fall of 22 major manufacturers reaches 16% which makes a new high in the latest six years. Because it always takes three to four months when transferring the domestic automobile to the import port in foreign country, the depression automobile market in domestic will bring a lag phase on the automobile import linkage. It is forecasted that the growth of automobile import and export in China will slow down in the following period of time.