Chinese automobile prices continue to fall in July

Gasgoo.com (Shanghai August 20) - According to a recent study conducted by the National Development and Reform Commission's Department of Price Supervision, new automobile prices in China continued to fall last month, Beijing News reported today.

Prices of domestically manufactured and imported vehicles in the 36 cities covered by the study decreased 1.15 percent and 2.55 percent last month when compared with 2011, respectively. July marked the third month in a row prices of imports fell. On average, prices for Chinese passenger automobiles fell 1.62 percent last month. SUV and microvan prices saw the largest declines, with prices decreasing 2.73 percent and 3.4 percent, respectively. Monthly prices of imported sedans decreased 0.17 percent from the previous month and 4.98 percent from the previous year. Imported SUV prices meanwhile, fell 0.5 percent and 0.04 percent over the same periods of time.