China Imports Fewer Cars, Government Threatens Investigation of Foreign Luxury Brands “Profiteering”

Automotive imports to China were down 11% in the first six months of 2013, to 526,000 cars, according to China's largest import dealer group. That wasn't the only bad news luxury car importers got.   Last week the official Xinhua News Agency telegraphed possible government restrictions on imports with an editorial accusing foreign carmakers of making exorbitant profits on their luxury car sales in China and saying that the foreign companies should face an anti-trust investigation. While government restrictions will undoubtedly affect future sales, the current decline is attributed to slower economic growth in China. In the first six months of 2013, BMW's imports dropped 18% from last year to 84,000 vehicles, while imports from were down 23 percent to 53,000 vehicles. Audi, the favored brand of Chinese officials, declined 3%t to 45,000 units. from The Truth About Cars http://www.thetruthaboutcars.com

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