China’s Auto Growth Down this Year

From the Economic Times:

China’s auto import growth has slowed down in the first five months of 2008 after a tightened control that denies refitted and stolen motor vehicles access to the country’s market, the customs said.

Since April, China has introduced a compulsory coding system for standardising vehicle purchase from abroad with the new import management system bringing tighter control.

Auto imports in April declined 7.5 per cent from March to 37,000 units and in May it slid further to 18 per cent from April level to 31,000 units, the General Administration of Customs said.

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