China's car prices to drop 4% this year, NDRC predicts

Shanghai. October 18 (Gasgoo.com) – The car prices in Chinese market will continue to decline in the remaining part of this year and it will drop 4 percent by the end of this year, according to a report released by China’s National Development and Reform Commission yesterday.
 
In the first nine months this year, cars prices have dropped 3.15 percent compared with the prices at the end of last year, the report shows.
 
The report said excessive production capacity, the arrival of new models and a slowdown in auto credit market this year will result in declining car prices.