In November 2017, China’s automobile imports were 115,000 vehicles, a year-on-year increase of 12.8%. Wang Cun said that as the supply and demand of imported cars reached equilibrium, the trend of replenishing stocks basically ended. At present, the import volume and consumer demand have basically achieved steady growth.
It is worth mentioning that Subaru is the only brand in the top ten brands in November 2017 that has lost more than 30% of its sales. Wang Cun said that the substantial decline in Subaru's sales was on the one hand due to the pressure of domestically produced models, and on the other hand related to the new energy points of imported cars in the “double points” policy. In addition, in October 2017, Subaru's quality inspection fraud and shirking responsibility also affected sales to a certain extent.
Recently, the China Automobile Dealers Association released data showing that in November, China's automobile imports were 115,000 vehicles, up 12.8% year-on-year; from January to November, the cumulative imports were 1.102 million, an increase of 18.2% over the same period last year. Imports continued to grow steadily. .

Wang Cun, director of the Import Vehicle Committee of the China Automobile Dealers Association, said that overall, imported cars in the first four months of 2017 were more to replenish stocks, driving the rapid growth of the entire import volume. As the supply and demand of imported cars reach equilibrium, the trend of replenishing stocks is basically over. At present, the import volume and consumer demand have basically reached steady growth.
In terms of sales volume, in November 2017, China imported a total of 82,000 imported cars, a year-on-year increase of 0.8%; from January to November, the cumulative sales of imported cars reached 819,000, an increase of 1.3% over the same period of last year, and the trend of terminal demand slowed down. In Wang Cun's view, the sales volume of imported cars in November was basically the same as that of the same period of last year. On the one hand, the growth of supply slowed down, and on the other hand, terminal demand only achieved a weak recovery.

Affected by this, the import vehicle industry's destocking pressure has been reduced. In November, the depth of inventory in the imported car industry was 3.6 months, which was basically the same as 3.61 months in the same period last year. Wang Cun pointed out that in the first four months of 2017, the inventory of imported vehicles increased from 3.2 months to 3.9 months. Subsequently, China's imports began to adjust, while sales growth was also declining, and the entire inventory remained basically stable at 3.6 months.
Recently, the more popular parallel imports have only slightly increased in November. Data show that in November, a total of 18,000 parallel imported cars, an increase of 1.7%; from January to November, a cumulative parallel imports of 158,000, an increase of 39.5%. Wang Cun said that in terms of imports, the parallel import data was satisfactory in November. However, at the end of last year, the General Administration of Quality Supervision, Inspection and Quarantine had the intention to invalidate the import of 3C certification, which led to increased import efforts by distributors. Therefore, parallel imports in November 2017 The year-on-year increase was not high.
Specifically, in terms of models, a total of 113,500 passenger cars were imported in November, a year-on-year increase of 13.3%. In terms of vehicle structure, the three major categories of models have all grown in November. Among them, the car increased by 8.8% year-on-year, the SUV increased by 14.5% compared with the same period of last year, and the MPV achieved a year-on-year growth rate of 34.6%. Wang Cun believes that the slower growth of SUV is mainly due to the impact of localization. Because SUV sales have reached a certain scale, there is a requirement for localization. However, SUV is the absolute main model in parallel imports, accounting for more than 80%. As the parallel imports increased, the overall SUV achieved a small increase.

In terms of brand structure, among the top ten brands, except for the decline of BMW, other brands have achieved growth. Among them, Toyota, Land Rover and Volkswagen increased by more than 40%. Wang Cun explained that the BMW X3 is about to be domestically produced, so the supply will decrease after October, and the whole volume will fall by about 10%. The recent increase in Land Rover's imports is mainly due to the introduction of new products.
In terms of sales volume, BMW, Mercedes-Benz, Lexus, Porsche and Volkswagen ranked in the top five, and the rankings were basically stable. In addition, six of the top ten brands in the sales volume achieved sales growth. The Ford brand grew at a maximum rate of 146.5%. Audi, which continued to decline in the first half of the year, also increased by 17.6% this month. BMW and Volkswagen brands showed a slight decline. Wang Cun believes that Audi's imported cars have experienced a sharp decline in sales volume due to the relationship between manufacturers and dealers. At present, the relationship between the two parties has been eased, and the volume of imports and sales have recovered significantly. Ford has achieved a significant increase in sales due to the popularity of the explorers.

It is worth noting that among the top ten brands, Subaru was the only brand in mid-November 2017 where sales fell by more than 30%. Data show that in November, Subaru sold a total of 2,684 units, down 32.9% year-on-year.
Wang Cun said that Subaru's main products are SUV models. Although its price is only slightly more expensive than domestic products in some independent brands or joint venture brands, it is obviously incapable in the competition process. On the one hand, the models that have already been made in the joint venture brand, such as the Honda CRV, have a very large impact. On the other hand, the independent brands are also gaining momentum and do not fall.
In addition, Subaru's annual sales decline may be closely related to new energy points. On September 28, 2017, the “Double Points” policy was officially released. According to the policy requirements, the imported car points need to be accounted for separately. If the company imports more than 30,000 vehicles, it must assess the new energy points. In this regard, Wang Cun said that for the Subaru brand, it is more difficult to develop its own new energy vehicle alone. From the current point of view, its annual sales have fallen sharply. It is very likely that it is stuck at the threshold of “double points” policy. under.
In fact, in October 2017, Subaru was repeatedly exposed to the “quality inspection fraud scandal”, and some media reported that the president of Subaru Ji Yongtai said at the press conference that the quality inspection standards related to fraud were related to Japan. The quality inspection agency has not applied to the export vehicle, so the export vehicle is temporarily unaffected. The attitude of “quality inspection and fraud” and shirking responsibility have affected the enthusiasm of Chinese consumers to a certain extent, which in turn affected their sales.
In the first 11 months of 2017, the downward trend in imported vehicle emissions continued. From January to November, the displacement share below 3.0L was 90.7%, which was 0.9% lower than the 91.6% in 2016. Among them, the 1.5-2.0L displacement model is in the first large displacement range with a 45.2% share. Wang Cun said that on the one hand, the downward displacement of imported cars is the pressure brought by the policy, and on the other hand, the consumers themselves demand to reduce fuel consumption.
When talking about the annual sales of imported cars, Wang Cun said that in 2017, the number of imported cars is expected to reach 1.2 million, an increase of about 15% year-on-year, and the overall growth rate has shown a downward trend.

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