China: Car prices drop 3.1% in May

The average price of locally-made passenger vehicles in China fell 3.1% year-on-year in May, and 0.38% from April, reports Bloomberg, citing the National Development and Reform Commission. On the other hand, prices of imported vehicles increased 2.2% year-on-year (0.33% month-on-month) in May, due to rising sales of imported luxury brands. Softening Subscribe to Automotive World … Continued

• By Webmaster
• June 17, 2011