SHANGHAI FTZ Parallel import car scheme

SHANGHAI FTZ Parallel import car scheme

SHANGHAI FTZ Parallel import car scheme
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 without authorization from any particular carmaker.
 
The parallel import scheme 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 last week.
 
Analysts say parallel import 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$64.5 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.

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