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Chinese auto market slump pushes Great Wall Motors to cut prices on popular Haval SUV.
Great Wall Motors just reduced the price of its popular Haval H6 picture here of almost 1000, following foreign brands in the price reduction company amid a cooling Chinese economy to photograph Great Wall Motors.
Great Wall Motors had high hopes in April, when it introduced its largest SUV maker predicted its new flagship vehicle Haval H8 China sell up to 5,000 units per month in June but in the first months of sales, generally a time where automakers see a great demand for a new product, only 1000 Haval H8S rolled on concessions.
Now began to offer discounts on the price of its popular sport utility vehicles, growth in the largest automotive market in the world slows in tandem with decelerate Great Wall economy announced price cuts of the country on Tuesday as many car manufacturer private led by Chinese billionaire Wei Jianjun as 6000 yuan 966 to its popular Haval H6 and Haval H2 SUV, in order to attract buyers of the middle class who might consider recent price reductions for foreign car brands produced in the country .
The company says the price cuts are intended to celebrate the sale of more than 800,000 Haval H6 SUV's, but more likely the Great Wall plays tug of war with foreign rivals to attract customers after a recent price drop, the minivan Volkswagen Touran starts at about 24,000, but for 1000, an additional client can now move on to more space and bigger engine of 25,000 Haval H6 midsize SUV.
Great Wall of new marketing tactics are that economic growth in China cools and consumers of the middle class crammed their extra money in the booming market shares of the country.
People are not buying cars no matter the size of the incentives People want their money in the stock market, Cui Dongshu, secretary general of the China Association of car passengers, told Bloomberg.
Consequently, foreign car manufacturers use price cuts to attract the rapidly growing base of consumers concerned about the state prefers driving cars with foreign insignia.
Several industry professionals we spoke recently suggested price competition began with VW in April, Paul Gong, China cars Citi Research analysts in a note earlier this month, after sales data May showed March 8 percent growth of the Chinese passenger car sales of 1 57 million units of General Motors, Ford Motor, Hyundai Motor, etc. all followed with varying degrees of price cuts.
Although passenger car sales rose last month, all vehicle sales, including commercial vehicles, fell April 6 percent to 1 9 million units Chinese automakers such as Great Wall are entitled to now, a slowing economy that's growing Chinese buyers to cheap domestic brands sales of Chinese vehicles by companies such as Great Wall, Geely and Chery increased 8 2 percent in May to 633.100 units.
And even more wealthy Chinese customers seem to change gears after years of grasping foreign luxury cars Monday, Audi reported its first drop in China for more than two years of sales, after BMW sales in the doldrums China.
The current reluctance to buy in the Chinese luxury segment was particularly strong, the company said in a statement announcing May data on global sales Audi is an indicator of all kinds because it's been the most popular foreign luxury brand China for years.
As China's economic engine cools, it seems difficult times are ahead for foreign automakers in the greatest demand in the global automotive market is still growing, but less and domestic enterprises are starting to feel the pressure, too.
Chinese auto market slump pushes Great Wall Motors to cut prices on popular SUVs Haval, slump Chinese auto.