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Shanghai allows 17 dealers to import cars directly from overseas

By Leng Cheng | February 11, 2015, Wednesday | Online Edition

SHANGHAI has disclosed the first batch of 17 dealers to join in a pilot program for parallel imports of cars in its pilot Free Trade Zone, allowing them to start selling imported vehicles directly from overseas from this coming Sunday.

Eight local dealers and nine from other provinces were on the list, 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, according to a statement issued by the Shanghai Municipal Commission of Commerce and the Shanghai FTZ administrative committee.

Some dealers had started taking reservation, and the parallel import automobile trade market located in Shanghai Waigaoqiao Free Trade Zone is hopefully to be officially opened on Sunday, according to Xinmin Evening News.

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, Shanghai Municipal Commission said in an earlier statement.

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, Gu Jun, deputy head of the commerce commission, said earlier.

Analysts say parallel imported cars will be 10 to 20 percent cheaper. 

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