Shanghai VW cuts car prices by up to 7 percent

Shanghai. August 13 (Gasgoo.com) - Shanghai Volkswagen announced its plan to cut prices on its China-made Passat Lingyu by up to 7 percent in order to push its car sales in Chinese market.

"In order to further expand mid-segment market share, Shanghai VW will cut the price of its flagship model Passat by 7 percent, about 16,200 yuan," said Winfried Vahland, CEO of Shanghai VW.

In March this year, VW (China) cut the price of its hot selling models such as Santana, Polo, up to 11 percent.

In January, Shanghai VW's rival, Shanghai GM reduced 10 percent of the price of Chevrolet Lova and Aveo.

VW China sold 43, 1369 vehicles in mainland China and Hong Kong SAR in the first half of this year, an increase of 24.6% year on year, according to China Association of Automobile Manufacturers.