SUV prices drop in July as stockpiles grow
SUV prices are starting to decline as inventories outstrip demand following a wave of new models introduced in China over the past few years.
In July, prices of domestically built SUVs dropped 3 percent year on year, while prices of imported SUVs plunged 9 percent from a year earlier, according to the National Development and Reform Commission, China's price regulator.
Prices of microvans -- mainly low-priced all-purpose vehicles built by domestic Chinese automakers - dropped 2 percent year-on-year in July.
But sedan prices remained strong. Prices of domestically produced sedans rose 2 percent last month, while prices of imported sedans increased 4 percent.
In July, prices of domestically built SUVs dropped 3 percent year on year, while prices of imported SUVs plunged 9 percent from a year earlier, according to the National Development and Reform Commission, China's price regulator.
Prices of microvans -- mainly low-priced all-purpose vehicles built by domestic Chinese automakers - dropped 2 percent year-on-year in July.
But sedan prices remained strong. Prices of domestically produced sedans rose 2 percent last month, while prices of imported sedans increased 4 percent.
