Shanghai GM Announces Prices for New Models

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Last updated at: (Beijing Time) Tuesday, July 08, 2003

Shanghai GM Announces Prices for New Models

Officials from Shanghai GM announced on Tuesday the prices for its new model, Excelle, which will be launched on the Chinese market in August.

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Officials from Shanghai GM announced on Tuesday the prices for its new model, Excelle, which will be launched on the Chinese market in August.

The new model, with a 1.6 liter engine and manual transmission, is priced at 149,800 yuan (18,000 US dollars) while the 1.8 liter engine with automatic transmission costs 179,800 yuan (21,660 US dollars).

Shanghai General Motors Corp. officials said the Excelle model,which is 4.5 meters in length and 1.7 meters wide, with a 2.6-meter wheelbase, was mainly aimed at business and family users.

The Pinninfarina designed model boasts a series of luxury features including a sunroof, leather seats, and an umbrella slot.

Other car manufacturers such as Kia, Volkswagen, Toyota and Mitsubishi have introduced new models in China this year and car prices have dropped significantly since January.

Auto industry experts said the market would become over-suppliedin the second half of the year and prices were likely to drop further.

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