The prices of imported cars have dropped significantly and are now approaching cost price levels. At the recent North Asian Auto Market Information Conference, Ding Hongxiang, Deputy General Manager of the China Import Auto Trade Center, shared his insights on current trends in the import car market. He highlighted that major changes are taking place this year in terms of model structure, pricing, profitability, and marketing strategies. According to him, imported car prices have returned to a more normal range. Compared to last year, the entire imported car market has undergone a complete transformation. All categories—low, medium, and high-end—have experienced notable price declines. For example, the Mercedes-Benz S350, which was priced at 1.2 million yuan last year, is now selling for around 1.08 million yuan, nearly its cost price. Similarly, the BMW 730, which previously ranged from 980,000 to 1.1 million yuan, is now available for just 920,000 yuan. The BMW X5 3.0L, once sold between 820,000 and 850,000 yuan, is now hovering around 760,000 yuan. Even the Toyota Camry 2.4L, a popular model often seen as a benchmark in the imported car segment, has not been spared from the downward trend. Its price has fallen from 430,000 yuan last year to 335,000 yuan today—a drop of nearly 100,000 yuan in less than a year, with prices still declining. These examples illustrate a broader trend: the overall level of imported car prices has dropped sharply. Ding Hongxiang noted that this price correction is a natural return to normalcy. “At this point, the current price level can be considered normal,” he said. While some had anticipated this shift, the speed at which it has occurred was unexpected. The era of high-profit margins in the imported car market is over. Reports indicate that some models have even been sold below cost price due to weak demand and intense competition among dealers, leading to a more chaotic market environment. Although some imported vehicles remain profitable, these profits are now considered normal rather than extraordinary. The number of imported cars being brought into the country has also stabilized. In the first quarter of this year, a total of 51,000 units were imported nationwide, representing only an 8% year-on-year increase. This slowdown, combined with falling prices, reflects a weakening demand for imported cars. As a result, the network of imported car dealers is undergoing significant restructuring. Su Hui, General Manager of North Asia Motor City, recently told reporters that seven dealers have exited the market this year, highlighting the challenges faced by many. This trend is likely to be widespread across the industry. The sharp decline in the number of dealers is driven by fierce competition, but more importantly, by a fundamental shift in the business model of imported cars. Previously, many investors rushed to secure 4S shop qualifications, hoping to capitalize on the market. However, with higher capital requirements and stricter regulations, many have been unable to enter the sector. The old model of simply buying and selling cars based on short-term profit is no longer viable. Instead, long-term brand partnerships and stable customer relationships through proper channels are becoming the new standard for successful import car dealers. In this evolving landscape, Ding Hongxiang emphasized that relying on bonded areas or informal trading platforms to manage risks is no longer sustainable. As market conditions and policies change, manufacturers are increasingly focused on building strong, comprehensive distribution networks. This shift underscores a more strategic and sustainable approach to the imported car market in the long run.

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