Price of Jetta to Fall by Over 10,000 Yuan

Home>>Business

Last updated at: (Beijing Time) Friday, December 21, 2001

Price of Jetta to Fall by Over 10,000 Yuan

The First Automotive Works Volkswagen Automobile (FAW-VW) is scheduled to slash the price of four Jetta models by over RMB 10,000 yuan in China's eight business districts on December 21-31, 2001.

The First Automotive Works Volkswagen Automobile (FAW-VW) is scheduled to slash the price of four Jetta models by over RMB 10,000 yuan in China's eight business districts on December 21-31, 2001.

The price cut, not merely a depreciation measure, is aimed at cutting the number of cars in store and expanding market shares, said authorities from FAW-VW. As FAW-VW's usual practice for cutting down the number of cars in store for many years, only a few old-style cars, which still have excellent performance, may be involved in the price cut. The price cut is good news for mainland consumers eager for flexibility, though most of them expect the price to fall still further after the mainland enters the World Trade Organization.

As reported, the price cuts will not change the price system of Jetta cars in 2001.

70% to Become Car Owners Within Five Years

According to a newly disclosed investigation by the China Consumer Association (CCA), 2/3 consumers in large cities plan to buy private cars within 5 years.

The investigation was conducted by the CCA in a bid to be well informed of presence and future trend of auto market in China and the acquaintance degree of consumer to the private cars, thus to guide the consumption. The investigation on private car consumption was proceeded in 20 large cities including Bejing, Shanghai, Tianjin, Chongqing, Hefei, Fuzhou, Shenzhen, Qingdao, Harbin, Shenyang, Zhengzhou, Jinan, Xi'an, Wuhan, Nanjing, Hangzhou, Guangzhou, Kunming and Changchun. The investigated saw a 10,000 samples, 2000 of which were car owners while the rest were carless. And an indoor mode with questionnaire was adopted. Full text

FAW-Volkswagen Automotive Co, Ltd.

FAW-Volkswagen Automotive Company, Ltd. is a large-scale joint venture car manufacturing enterprise. The shareholders are First Automobile Works of China (60%) , Volkswagen AG (30%) and Audi AG (10%) of Germany. It was established on February 1991 and started business in the following September. The company was finally completed and launched into full scale production in July 1996.

FAW-Volkswagen was the first large scale modern car manufacturer in China. Since establishment, the company made significant progress with the production of cars and parts' localization.In 1991 FAW-Volkswagen was named as "Enterprise with advanced Technology" by the Ministry of Foreign Economy and Trade. In 1995, the Company won the award of "Well - known and Superior Quality Enterprise in China's Automobile Industry" given by the National Statistics Bureau. The planned annual production capacity is 150.000 cars, 270.000 engines and 180.000 transmissions. Please click here for further information

By PD Online staff member Huang Ying

Auto Price War Breaks out

Auto Sales down Despite Price Deregulation

State Lifts Decades-old Control over Car Prices