Price of imported autos down 1.36% m/m in July

Shanghai, August 14 (Gasgoo.com) Last month, vehicle prices remained stable in China's auto market, with prices of imported vehicles dropping slightly while those of domestically-made vehicles growing a little, reported People's Daily online, citing a survey by the National Development and Reform Commission (NDRC).

The survey results issued by the NDRC on August 12 show that in July, imported vehicle prices dropped by 1.36% month-on-month but up by 6.58% year-on-year. Among them, the price of imported sedans and SUVs dropped by 0.45% and 2.56% m/m, respectively, causing their year-on-year growth rates to fall to 3.13% and 11.57% respectively.

In July, China-made vehicle prices rose by 0.46% m/m and rose by 0.37%y/y. The prices of passenger vehicles rose slightly by 0.46% m/, but fell by 2.76% y/y; commercial vehicle prices were up by 0.46% m/m, and up by 4.67% y/y.

The NDRC, China's top economic planner, forecasts that vehicle prices in China, backed by the growing demand, will remain stable in general though small fluctuations will occur in the remainder of the year.