Import of classic cars soon also permitted in China?
05/01/2015
Changes are to be made to the import policies of Shanghai's free trade zones, which could have a major impact on the classic car industry. Recent developments are a new ray of hope for the classic car collecting community, which has long aspired to import classic cars to China for use. The future changes could usher in a golden era for classic cars in China, at least that's what some local insiders think.
The global classic car market is booming, with worldwide sales and unit prices rising steadily. For this reason, classic cars are becoming increasingly attractive to collectors and investors. In addition, a trend has recently developed among the new generation of wealthy Chinese who see classic cars as a unique way to show off their taste. Despite many obstacles, the number of classic cars in China has been steadily increasing.
Although there is obviously a significant number of potential classic car owners in China, the industry growth is slowed down by various obstacles. One of the biggest hurdles is restrictions on importing vehicles from abroad. To date, classic car shows, rallies and donations are the only three legal ways to bring classic cars into the country. The import of classic vehicles for personal use or resale is still not officially permitted.
There is also a ban on vehicles older than 15 years due to the heavy air pollution and extreme traffic! Even if this rule was not directly aimed at classic cars, today it means that classic cars are largely excluded from road traffic. In May 2013, the government took a step towards relaxing the legislation for classic cars and apparently now requires them to be decommissioned after 600,000 km instead of 15 years. This would make it possible to drive a classic car on China's roads today, as few classic cars in this country are likely to have a mileage of over 600,000 km.
An application for a more relaxed treatment of classic cars was submitted to the national parliament in March of this year, and it remains to be seen what will come of it. If the "floodgates" are actually opened, large quantities of old cars are likely to be sent to China, because even with very selective interest, there will certainly be a large number of interested parties. In any case, there have been rumors for some time now of entire warehouses in Germany (and other countries) filled with classic cars waiting for China's borders to open.
In any case, Europe's classic car enthusiasts are looking anxiously at developments in China, as many classic cars are already almost unaffordable and have become the victims of speculation ...
