17 dealers on parallel import of cars list
Print Edition
THE first 17 dealers that Shanghai allowed to join a pilot program for parallel imports of cars in its free trade zone can start selling vehicles directly from overseas on Sunday.
The eight local dealers and nine from other provinces, including Shanghai Yongda Automobiles Co, Shanghai Brilliance Auto Service and Commercial Co, Shanghai Automobile Import & Export Co, Shanghai Juneyao (Group) Co, Baoxin Auto Group Ltd, Wuhu Yaxia Automobile Co, Shanxi Dachang (Group) Co and Tianjin Grand Union Automobile Trading Group Co, are all based in the FTZ, according to a statement issued by the Shanghai Commission of Commerce and the Shanghai FTZ administrative committee.
Some dealers have started taking reservations, and the parallel import automobile trade market in Shanghai Waigaoqiao Free Trade Zone is hoping to officially open on Sunday, Xinmin Evening News said yesterday, citing a person familiar with the matter.
Dealers must have at least five years’ experience trading cars, posted profits in the past three consecutive years and sold more than 400 million yuan (US$64 million) in the previous fiscal year, the commerce commission said in an earlier statement.
The scheme, which allows imports of cars from abroad without authorization from any carmaker, will weaken the automakers’ control on prices of imported cars.
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