Himfr Analyzes Price Trends in China's Car Market

2010-09-03 20:39 1049
    BEIJING, Sept. 3 /PRNewswire-Asia/ --, one of China's leading B2B search platforms with more than 30 B2B industry websites to its name, analyzes China's car market.

    The price of passenger vehicles in the first half of 2010 has mainly dropped. After March, prices saw their fourth month of consecutive declines. June's price was 3% lower than early in the year. In the second half of the year, inventory pressure will increase and off-season promotion will take effect, creating further price declines in the auto market.

    According to statistics, there will be large numbers of new vehicles in the third quarter with an average of three new cars going on the market every week. There will be new offerings from Volkswagen, Shanghai Volkswagen, Guangzhou Honda, Dongfeng Nissan, BYD, Geely and other automobile manufacturers.

    Judging from the market situation, the new models going on the market are aggravating the contradiction between supply and demand. There has however, been increased support of the automobile market in China to foster consumer growth, stability and continuity. Furthermore, subsidies for new energy vehicles will have strong support and market demand. 

    New cars listing on the market not only aggravate the market competition, but also increase diffused consumer choice.

    As the fourth quarter approaches, due to stock pressures and receivables consideration, manufacturers will make official price adjustments. At the same time, in order to finish annual sales targets, dealers will likely increase the discount rate to stimulate demand. 

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Keywords: Retail