Chinese-made vehicle prices fell 1% in April as demand softened
The price of Chinese-made vehicles fell 1.1 percent in April from a year earlier, and declined 0.2 percent from the previous month, according to the National Development and Reform Commission.
The price of imported cars rose 4.3 percent in April from a year earlier, according to the commission's statement, which added that vehicle prices are expected to remain stable.
With demand for cars in China softening this year, automakers have been cutting prices.
In March, FAW-Mazda Motor Sales Co. cut the price of the Mazda6 sedan by 17 percent. And in February, BYD Co. cut prices 10 to 19 percent in an effort to prop up sales.
Car prices are soft even though China's economy is beset by inflation. Last month, consumer prices in China rose 5.3 percent from a year earlier.
