Mr. Shi, a Beijing resident, wants to buy a Chinese-made SUV priced at 200 thousand yuan. He started looking into the purchase in September. Because it was a popular model, the dealer had asked for an extra eight or nine thousand yuan above the listed price. So he waited. But now, it's even more expensive. Mr. Shi was expecting not a price hike, but the widely anticipated end of the year discount.

Mr. Shi said, "I always thought there would be a promotion at the end of this year. I regret I didn't buy the car earlier. The price hike this time is even bigger, about 15 to 20 thousand yuan more. What is more disturbing is that there are no cars available even if you are willing to pay the extra money."

Car dealer of Beijing Asian Game Village Auto Market, said, "Car sales are experiencing a dramatic increase compared with previous months. Our orders are fully filled until February next year."

There are several dozen models that have experienced jacked up prices...from 8 thousand yuan to as much as 130 thousand yuan. For example, for a Toyota Alpha, dealers are asking for an additional 77 thousand yuan. Compare to last week, the price is up more than 11 percent.

It's not just Chinese cars. The price of imported cars has jumped between 10 thousand to over 100 thousand yuan.

Many dealerships have already surpassed last year's sales.

While consumers may feel the pressure to buy a car, they do not.