China Nov. vehicle prices stable, with small drop

Shanghai, December 19 (Gasgoo.com) November auto prices in the Chinese market were stable by and large with small fluctuations, according to a survey conducted in 36 cities of China by the Price Monitoring Center of China's National Development and Reform Commission (NDRC).

Chinese-made vehicles posted stable prices while the prices of imported vehicles continued to go down.

Statistics showed that prices of Chinese-made vehicles in Nov. edged up 0.75% from a year earlier. Passenger vehicles posted two consecutive monthly price drop in Nov., down 0.89% month on month and 0.81% year on year. Commercial vehicles prices rose by 1.16% from the previous month, up 2.78% year on year.

Due to the weakening demand, imported cars prices dropped 0.96% month on month in Nov., with year-on-year growth down by 4.46%.

The Price Monitoring Center expected that China's auto market would continue to decline in the month ahead as the global financial crisis discourages Chinese vehicles exports.