Shrinking demand at home and abroad will drive China's import and export of motor vehicles down further as the impact of the financial crisis lingers on, the General Administration of Customs said yesterday.
In the first 11 months of 2008, China bought 373,000 motor vehicles from abroad, a growth of 35.6 percent on the same period of 2007. The arrivals were valued at US$13.87 billion, up 45 percent, the customs administration said.
But auto imports reached only 33,000 units in November, up only 3.2 percent on 2007, with a growth rate 39.2 percentage points below the year-earlier level.
The administration said Chinese consumer confidence fell for three consecutive months from August to October.
This resulted in a 10.3-percent year-on-year decrease in auto sales nationwide in the month of November.
(Shanghai Daily January 6, 2009)
