Shanghai's Automobile Imports Hit New High in 5 Months

Automobile imports through the Shanghai customs hit a record high of 3,286 in the first five months of the year, averaging 21 per day or up 155 percent on an annual basis, according to customs statistics.

Of the 3,286 vehicles, 48.5 percent are sedan cars, while 20.8 percent are trucks.

Customs officials attributed the rise mainly to the cut of tariff duties for certain types of motor vehicles and parts and components beginning early this year.

The rate of import duties for sedans was reduced from the previous 80-100 percent to 70-80 percent and that for parts and components from 35-50 percent to 30-40 percent.

China's strong economic growth and consumption demand is also regarded as a major reason.

Customs figures show that the imports of BMW, Mercedes-Benz and other luxury cars are picking up this year. Some of the latest models of the world's auto giants are seen arriving at Shanghai shortly after they rolled off the production line.

People's Daily Online --- http://english.peopledaily.com.cn/