Even SUV market pervaded by price reduction in China

Gasgoo.com (Shanghai September 24) - Despite the fast sales growth of 44.5 percent on a year-on-year basis in the market segment in Chinese, SUV market has ushered in a collective behavior of price reduction since months ago. Fierce competition in the SUV market put much pressure in achieving high sales for the terminal market, thus automakers have to lowering prices to promote sales to meet their original target.

As the bellwether among Chinese domestic SUV manufactures, Great Wall has officially lowered the price of several hot-selling SUV models including H6, H2 and H1, through which the enterprise intended to regain the leading position in the market competition.

In order to clear the inventory since the new Tucson is going to be launched, Beijing Hyundai released an all-round price reduction for ix35 and new Santa Fe by 30,000 yuan at most.

In the meanwhile, Dongfeng Yueda Kia reduced the official selling price of Soul and Sportage by 50,000 yuan at most. In terms of Japanese SUV models, not only Toyota Highlander but also Nissan Murano have experienced price reduction.

Thorough these price reduction, joint-ventures have further pushed Chinese domestic automakers on the market space. Under such pressure, BAIC Senova has to reduce by 15,000 yuan on Senova X65 selling price to 83,800 yuan.

On the other hand, Haima also reduced the sticker price of Haima S5 by 7,000 yuan to 10,000 yuan. Additionally, SAIC also offer 8,000 yuan discounts for each MG GS SUV models to promote sales.