China-made vehicles post m/m price rise in July

Shanghai, August 14 (Gasgoo.com) China-made vehicles posted a month-on-month (m/m) price rise in July due to higher raw material costs and implementation of National III standards, while the imported vehicles saw a price drop from the previous rising price, reported xinhua.net yesterday, citing the survey data from the regulatory body.

The result from the 36 surveyed cities showed that China-made vehicles saw the July price continue to increase by 1.50% compared to 0.15% in the previous month. The passenger vehicles and commercial vehicles both had a price rising.

Passenger vehicles have seen the first m/m price rise in July since March, up 0.45% m/m but down 1.32% year on year(y/y). The sports car and minibus had a 0.96% m/m and a 0.70% m/m price rise respectively, while the basic passenger vehicles saw price down 0.22% m/m as high competitiveness and a weaker demand cut into results.

The commercial vehicle price kept rising in July, up 2.95% m/m compared to 0.94% in June and up 0.11% y/y. The bus price posted bigger increase, up 4.95% m/m but still down a 0.34% y/y. The price of light and large buses rose by 2.73% m/m and 5.84% respectively.

However, the imported vehicles generally showed price decline in July, down 0.74% m/m compared to a 1.18% m/m rise in June and also falling 0.88% y/y. The price of the imported All Terrain Vehicle (ATV) dropped 2.39% m/m and 0.59% y/y. For the imported sedans, the price rose 0.45% m/m but fell 1.06% y/y.