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According to a report entitled "the Development of China's imported Automobile Market in October" released by AVIC a few days ago, customs car imports in the first 10 months of this year were 879000, down 5.2% from the same period last year, but not all imported models were delivered to consumers. The number of imported cars successfully delivered by dealers in the first 10 months was 679000, down 2% from the same period last year. This is also a continuation of the trend of continuous decline since July this year.

In terms of models, the three major imported models all declined in 2019, with imports of SUV, cars and MPV down 3.9%, 7.3% and 8.8% respectively compared with the same period last year.

In the face of the overall automobile winter, the Sino-US trade situation is constantly changing, and under the background of the switching of the five countries and six emission standards, the domestic imported automobile market shows a double decline in supply and demand, and the inventory pressure in the industry has slowed down. According to data from China's imported car database, the total number of imported cars from January to September 2019 was 789000, down 6.9 per cent from the same period last year.

With regard to the decline in the import market, Wang Cun, director of the China Automobile Circulation Association, said that due to the reduction in market demand and the impact of emissions from the five countries and six policies, many car dealers chose to reduce inventory to avoid risks, so that many models were not introduced, especially the introduction of new products. In addition, some models are affected by localization, in the same model, the domestic performance-to-price ratio is higher.

From the fourth quarter of 2019 to the whole year of 2020, 27 new imported cars will be put on the Chinese market, but this is the least in the past seven years. the new products are mainly ultra-luxury and high-end luxury models, and the replacement models are mainly supplemented by models. there are not many cost-effective models, and the pulling effect on the scale of the imported car market is also limited.

Although the overall market of imported cars is not as expected, there are still bright spots in the segment. Parallel imported cars have bucked the trend. In the first 10 months of this year, parallel imported cars imported a total of 140000 vehicles, an increase of 11 percent over the same period last year, accounting for 16 percent of the total imported cars, a record high.

But Wang Cun is not optimistic about the prospect of parallel imported cars. He said that due to the influence of environmental protection policy and last year's base, parallel imports fluctuated greatly in the quarter, more than tripling in the second quarter compared with the same period last year, and falling by 36.2% in the third quarter, forming a trend of ups and downs. Affected by the policy, the impact of parallel imports will be even greater in the future.

In addition, the electric car market dominated by Tesla, the European brands of Mercedes-Benz and BMW, and the Japanese brands mainly of Toyota and Lexus have all maintained good performance, with German brands accounting for 45.2% of the imported models.

The most outstanding performance is the imported new energy market, which imported 45000 new energy vehicles in the first nine months of this year, an increase of 179.9% over the same period last year, accounting for 5.7% of the total imported models, of which Tesla imported 32700 electric cars, a sharp increase of 179.8%.

As for the overall automobile market in the future, Lang Xuehong, deputy secretary general of the China Automobile Circulation Association, also predicted that the automobile market will continue to bottom out in 2020. Although the overall luxury model market is better than the passenger car market this year, it will be affected more or less under the overall cold winter, especially for the imported car market. Only by further reducing tariffs and institutional costs can it bring more benefits to the recovery of the imported car market.

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