China’s car import industry is an interesting prospect for business and there are more and more Chinese business men becoming millionaires The upswing of the China car import industry was foreseen by economists and business analysts. The preferred choice of vehicles of people from the upper strata of society are European made cars such as BMW M series, Audi Quattro and the AMG Mercedes Line up.
The rich would like to flaunt their extravagance by using such luxurious automobiles.According to news report from Beijing, China imported no less than 229,000 imported cars in 2006 and still continues to import newer and more expensive models today. There was a reduction of China car imports due to high consumption tax increase, however, the low import tariffs buffered the tax making a minimal reduction. This sounds ironic because the Chinese car manufacturing industry has excessive car production.