Long wait for imported autos

• Source: Shanghai Daily
• [08:48 September 25 2010]
• Comments

Some Chinese car buyers have to wait until next year to get hold of imported autos they have ordered as increasing demand has led to a shortage of such vehicles but some industry insiders said they are not totally convinced about the shortage.

Dealers expect sales of imported cars to boom in the following two months as vehicle buying has got off to a good start in September.

"Imported auto sales have been rising every year, faster than suppliers' expectations," Sun Jian, a franchised dealer for Land Rover China, said at the 5th Shanghai Imported Auto Exhibition.

"They have underestimated China's potential," Sun said.

For the first seven months of this year, imported car sales roared 152 percent year on year to 450,960 units, with value surging 160 percent to $17 billion, according to China Automotive Technology & Research Center.

Yang Zaishun, deputy secretary general of the China Passenger Car Association, said the number could exceed 700,000 units this year and set to reach 1 million in 2011.

But some insiders are sceptical about the shortage and believe dealers are using a marketing strategy to lure customers by requiring them to pre-order, with deliveries starting next year. Some brands charge extra fees if buyers want the cars earlier.