China’s auto imports fall in Q1
Based on the data issued by
China's General Administration of Customs, the country's auto imports showed a keen decline in the first quarter of 2005.
The import value of vehicles and key auto parts amounted to $2.28 billion in the first three months of 2005, down 44.4% year on year. Import volume also fell 51.1% year on year to 25'000 units.
The decline is attributed to the government policy and demand on the domestic market.
According to related policy, starting form 2005, only dealers with authorization of foreign auto enterprises can sell imported vehicles.