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Car imports go into reverse

By Li Fangfang | China Daily | Updated: 2013-07-26 08:22

Car imports go into reverse

First six-month fall since 2006; dealers grapple with inventories

Vehicle imports slumped 10.7 percent in the first half, to 526,000 units, as the domestic demand slowdown of the past two years drove up inventories of foreign cars.

Customs figures also show that the decline was the first half-year contraction since 2006, when China implemented its World Trade Organization commitment to lower the import tariff for vehicles to 25 percent.

Car imports go into reverse

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