FTZ pilots parallel imports of cars
Print Edition
SHANGHAI has launched a pilot program for parallel imports of cars in its free trade zone, allowing certain dealers to import vehicles directly from overseas.
The parallel import scheme, which allows cars to be imported from abroad without authorization from any particular carmaker, will weaken the automakers’ control on pricing of imported cars and provide lower prices for Chinese buyers, according to a statement issued by the Shanghai Commission of Commerce and the Shanghai FTZ administrative committee on Wednesday.
Analysts say parallel imported cars will be 10-20 percent cheaper.
To join the program, dealers must have at least five years of experience trading cars, posted profits during the past three consecutive years and sold more than 400 million yuan (US$64 million) in the previous fiscal year, the statement said.
Dealers joining the program will also be responsible for quality and after-sales service, including recall and guarantees of repair, replacement or refund of faulty products.
A 2005 regulation that all imported cars must be brought in through a general distributor, often set up by the manufacturers, saw prices of imported cars in China to be three times more expensive than those sold abroad.
Gu Jun, deputy head of the commerce commission, said earlier that the parallel import program would make the market more competitive.
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