China's auto prices continue free fall in Dec '08
Shanghai, January 16 (Gasgoo.com) Vehicle prices in China fell further in December 2008, reflecting an aggressive effort by automakers to clear out 2008 inventories, according to price monitoring data from the country's top economic planner.
China's National Development and Reform Commission (NDRC) has unveiled last month's auto price monitoring data collected from 36 major Chinese cities. The data show that domestically built vehicle prices fell 1.04% month on month but up 0.60% from the same month in 2007.
China-made passenger vehicle prices fell 1.26% m/m and 1.17% y/y, marking a third straight monthly drop. Commercial vehicle prices fell 0.57% m/m but up 3.02% y/y.
Imported vehicle prices fell 0.50% m/m but up 5.11% y/y, of which prices of imported sedans declined 1.39% m/m while prices of imported SUVs went up 0.68% m/m.
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