Tony Sagami - Veteran investment advisor and a leading expert on Asian markets.

Auto imports soar in China

by Tony Sagami on August 20, 2008

in Asian Market, Stock Market in China

The roads of Beijing are crowded with non-Chinese cars.

In the first six months of 2008, China imported 212,000 vehicles a 53% increase from the same period of last year.

The dollar value increase was even more dramatic. The dollar value hit $7.74 billion, a 71.3%. That tells me that themarket is for high-ticket luxury cars.

I have seen a ton of black Audis in Beijing.

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