China, Socialism & Consumer Behavior: motor vehicles imports in the rise in the 1st half year/2008

China’s auto imports grew rapidly in the first half, as world auto giants turned to the Chinese market after the U.S. economic slump and rocketing oil prices drove sales down on U.S. and European markets, the Chinese General Administration of Customs said recently.

Domestic demand for vehicles with large-engine capacities also strengthened as many people bought in advance of a consumption tax hike, the administration added.

From January to June, China bought 212,000 motor vehicles from abroad, up 53.2 percent from the same period of last year. The growth rate was 18.3 percentage points higher than the year-earlier level.

The arrivals were valued at 7.74 billion U.S. dollars, up 71.3 percent.

The total included 108,000 off-road vehicles, up 78.9 percent. The growth rate was 26 percentage points higher than the average for the total. Their proportion was up to 51.5 percent from 44 percent a year ago.

Around 92,000 vehicles each with an engine displacement of at least 3 liters were imported, up 86.9 percent. The growth rate was 33.7 percentage points higher than the average. Their proportion was up to 43.9 percent from 35.9 percent a year earlier.

Japan, the European Union, Korea and the United States were the top four sources for China’s auto imports