CHINA'S
vehicle exports are expected to outpace imports again this year despite the higher
excise tax that fueled explosive growth in car imports during the first quarter.
"In terms of volume, exports will continue to surpass imports this
year as more Chinese automakers eye selling low-priced cars to the huge overseas
market," said Zhang Xin, an auto analyst from Guotai Jun'an Securities Co
Ltd. Last year, China exported 176,239 units, 11,031 units more than
it imported. It was the first time vehicle exports surpassed imports in terms
of volume in more than a decade. For the first quarter of this year,
imports soared compared to a year earlier, driven by a newly introduced higher
auto excise tax. Imports of vehicles including chassis doubled to 50,600
units with a recorded value of US$1.694 billion, up 108 percent from a year earlier.
The import spike was largely due to an increased demand for sport utility vehicles,
which jumped 202 percent to 232,000 units. Speculation on a higher excise
tax, starting last month, to be imposed on gas-guzzling models started spreading
January which prompting buyers to place their orders before the government¡¯s
official announcement of an increase up to 20 percent on large engine vehicles.
Domestic automakers exported 626,000 units of vehicles in the first quarter,
soaring 140 percent from the same period of last year. |