Source: CCTV.com

12-22-2008 11:31

Prices for high-end vehicles in Beijing are dropping faster than the temperature. Some prices have been slashed by up to 100,000 yuan.

The end of year is traditionally a good time for premium car sales. But this season, luxury car dealers in Beijing are seeing few buyers. In Beijing's major auto markets, the price of the 2008 Audi A6 2.8 sedan has dropped nearly 80,000 yuan from last month. While the new 2009 Audi A6 is also 40,000 yuan cheaper.

Prices for high-end vehicles in Beijing are dropping faster than the temperature.

One car dealer said "The price of this Porsche used to be 1.2 million yuan. But now it's 1.1 million yuan, down 100,000 yuan."

One customer said "Some of the prices are now already 20,000-30,000 yuan cheaper. And prices for luxury vehicles are unlikely to be up again."

Luxury car dealers in Beijing are facing much pressure to achieve sales. And even though they are offering various incentives, some buyers are still hesitating to make a decision.

One customer said "Most car buyers are still taking a wait-and-see attitude. We believe there is still room for further price cuts."

Guo Yong, General Manager of Business Info. Center of Yayuncun Auto Market said "Many car dealers are launching promotions to reach annual sales targets, and some are also trying to cash up as much as they can."

While some luxury car buyers are still waiting for a better offer, sales of compact vehicles are up. Figures show that auto sales in Beijing surged nearly 11 percent during the first 11 months this year, with 49,000 units sold. And most of them were low-emission, low-budget vehicles.

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Editor:Xiong Qu