Prices of China's own-brand cars are spiking quietly

Shanghai, May 28 (Gasgoo.com) Due to the soaring costs of raw materials and the upgrade of emission standards, the prices of China's commercial vehicles have generally risen, and many major models of own brands have also become more expensive.

On its corporate website, Chery Auto has marked up the prices of its QQ, Eastar, Tiggo and other Chery small-car models by 2,000 yuan ($287) to 3,000 yuan. Jianghuai Auto has also announced the price rise for its Binyue sedans and Ruiying SUVs by 5,000 yuan. Zotye 2008, a small 5-door SUV produced by Zotye Auto in Zhejiang, is now selling for over 60,000 yuan, which is about 8,000 yuan higher than its price of a few months ago.

However, the price rise is not a big trend in the market of China's own brand cars. Some carmakers are only quietly raising the prices of their low-profits models to balance the soaring raw material costs.

The stricter emission standards are another contributor to the auto price spike. Most China-made cars, including those of the nation's own brands, are following something like the Euro IV standards.