Latest News :2009.05.05

May 5, 2009 (China Knowledge) - The number of China's imported cars declined 37% year on year to 65,000 units in the first quarter of 2009, the official Xinhua News reported on Monday.

The sales of imported cars posted a robust growth in the first three months.

In the period from January to March, the number plate registration of imported cars reached 75,600 units, representing a year-on-year growth of 20.5%. The country imported more SUVs than sedans but less high-emission cars in the first quarter.

Industry official attributed the decline of imported cars in the first quarter to the high inventories from 2008 and the market slump in the fourth quarter of last year. In the meantime, the increase in imported car registration was boosted by the government's stimulus measures, according to the report.

China 's imported car market is likely to get a boost in the second half of this year as consumers' confidence regains on the government's stimulus packages. The full-year auto import will go slightly down from 2008 and the full-year registration volume will not exceed last year's, said industry experts.