Premier Li Keqiang of the State Council made it clear in his "Government Work Report" in 2018 that it has actively expanded imports, completed the first China International Import Expo, and lowered the import tariffs on automobiles and some daily consumer goods. Earlier, at the Davos World Economic Forum in January this year, Liu He, the director of the Office of Central Financial Leading Group and deputy director of the National Development and Reform Commission, also stated that it will orderly reduce auto import tariffs. The industry generally believes that the gradual reduction of import vehicle tariffs will bring a number of positives for the automotive market, including more choices by consumers, increase the competitiveness of imported vehicle market, and intensify the upgrading of products of enterprises, and promote the development of China's automobile industry. Import high-end luxury car or become the biggest beneficiary As one of the factors affecting the sales volume of imported cars, tariff adjustments can often directly affect the sales volume of imported cars. China's auto import tariffs have been lowered several times. In 2006, China's auto import tariffs were lowered to 25% and continue to this day. As China’s auto import tariffs continue to decrease, the number of imported cars in China continues to increase. Statistics show that in 2001, the number of cars imported from China was only over 70,000 vehicles, and in 2016 it had exceeded 1.07 million. According to Chen Haifeng, deputy director of the Auto Circulation and Aftermarket Policy Research Department of China Automobile Industry Center, "The reduction in tariffs will definitely increase the competitiveness of imported cars." said Cui Dongshu, Secretary General of the National Passenger Car Market Information Association, the future auto import tariffs are lowered. The main benefit is the import of high-end luxury cars. "It is likely that a greater cost improvement will be made in the competitive situation of high-end models such as Tesla and domestic luxury cars," said Cui Dongshu. It is difficult to impact the imported car market in the short term The direct benefit of the tariff reduction on imported vehicles also includes dealers. "The reduction in tariffs will reduce the cost of dealers buying imported cars." An imported car dealer who has been working for many years told the Beijing News reporter that although the import costs of dealers have decreased, it does not mean that the price of imported cars will drop significantly. . "The price of imported cars is determined by multiple factors. The comprehensive tax includes three items: tariff, consumption tax and value-added tax, of which the consumption tax is still set according to the size of the displacement. At the same time, the price of imported vehicles will also be affected by changes in exchange rates." Car dealers said. However, some people in the industry believe that the reduction of import vehicle tariffs will have little impact on the auto market in the short term. At present, most of the luxury hot models of multinational car companies are gradually domestically produced, and they continue to stage “hukou food†to seize the market share of imported cars, making the overall proportion of imported cars in the passenger car market decrease again and again. According to the data, the domestic sales volume of imported cars last year was 904,000, a slight increase of 0.6% year-on-year, accounting for only 3.13% of the total sales of cars in China.
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