In the first quarter, imported cars continued to replenish stocks, bringing the total number of imported cars to 263,000, an increase of 19.6%. Wang Cun said that the import volume of customs has increased substantially, indicating that our imported car market has gone out of the decline in supply in the past two years. The supply and demand of imported cars has driven the rapid growth of parallel imports. In addition, the government encouraged and some manufacturers to lift the restrictions, making parallel imported vehicles reach 15.1% of the total imported vehicles for the first time. Continuing the fourth quarter of 2016 to replenish inventory trends, the overall import of cars in the first quarter of 2017 is improving. Recently, the China Automobile Circulation Association (hereinafter referred to as the “Circulation Associationâ€) released data showing that in March 2017, China’s automobile imports reached 102,000 units, an increase of 45.71% from the previous month. In the first quarter, the cumulative import volume of automobiles was 263,000 units. Growth of 19.6%. Wang Cun, director of the China Automobile Distribution Association's Imported Cars Professional Committee, said that in the first quarter, imported cars continued to replenish stocks, which led to a significant increase in customs imports. With such data, our imported car market has already gone out of the decline in supply in the past two years. In terms of sales volume, imported cars reversed the downward trend in 2015-2016 in the first quarter of this year and achieved growth year-on-year. According to the data of the circulation association, the sales of imported cars in March reached 78,200 units, an increase of 38.65% from the previous month. The sales volume of imported cars in the first quarter was 214,000 units, a year-on-year increase of 0.9%. Wang Cun said that from the first quarter, the data delivered by dealers to customers was less than 1%, indicating that the recovery of imported car terminal sales was weak. Xiao Zhengsan, secretary-general of the China Automobile Dealers Association, said that suppliers should limit the amount of inventory when they make up the stock, and set the stock quantity on the premise of ensuring supply. At the same time, suppliers should also pay attention to market changes, replenish stocks in a timely manner, or adjust imports. It is worth mentioning that the supply and demand of imported cars in the first quarter led to a high rate of parallel imports. The data shows that the total amount of parallel imports in March was 17,600 units, an increase of 58.56% from the previous month; the number of parallel imported cars in the first quarter was 39,800 units, an increase of 51.9% year-on-year, and the first time reached 15.1% of the total number of imported cars. Wang Cun said that the large growth rate of parallel imported cars is mainly due to the government's encouragement. In addition, the elimination of restrictions by some manufacturers has also led to a larger increase in parallel imported vehicles. From the perspective of the structure of the imported car market, the three major models in the first quarter have achieved growth. Among them, MPV growth rate was the fastest, reaching 76.4%; car sales increased by 24.2% year-on-year; SUV growth rate of 58.8% market share was the slowest, only 12.8%. Wang Cun said that the market share of imported SUVs has been above 60% in the past five years, and its market share decline has been greatly affected by localization. In addition, the brand concentration of imported cars increased in the first quarter, and the second group was highly competitive. Among the top ten brands, except for Toyota, Land Rover and Audi, the import volume of other brands has increased. Among them, the growth rate of the Volkswagen and Lincoln brands exceeded 100%. Wang Cun said that Toyota's import volume is limited and the models are relatively single, so the import volume declined slightly in the first quarter; the decline in Land Rover's imports was affected by the localization of certain models; Audi was not affected by the relationship between the manufacturers and its own inventory was relatively high. The impact has led to a significant drop in its imports. When talking about the future development trend of imported cars, Wang Cun said that the second quarter of the replenishment of inventory may be continued, resulting in an increase in imports. In addition, due to the slow recovery in sales of imported car terminals, the sustainability of imported car sales this year may be affected. Vehicle Greases,Automotive Grease,Automotive Lubrication,Car Wheel Bearing Grease Hangzhou Xingang Lubrication Technology Co., Ltd. , https://www.newlubes.com
Wang Cun, director of the China Automobile Distribution Association's Imported Cars Professional Committee, said that in the first quarter, imported cars continued to replenish stocks, which led to a significant increase in customs imports. With such data, our imported car market has already gone out of the decline in supply in the past two years.
In terms of inventory, the imported car inventory in March 2017 was 3.7 months, and the absolute inventory index was 304, which was a significant drop year-on-year. Compared with the industry level in 2013, the inventory pressure was greatly reduced. Wang Cun said that imported car inventory returned to a relatively reasonable level in March, which is also the driving force for replenishing inventory in the first quarter, and this situation is likely to continue in the second quarter.
In the first quarter, imported small-displacement models still dominated. The data shows that the share of imported cars below 3.0L in the first quarter reached 90.2%, down 0.4 percentage points from the previous year. Among them, the imported cars with a displacement range of 1.5-2.0L continue to occupy the first large displacement range with a share of 43.3%.