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China's home-grown auto prices down amid year-end sale
(Xinhua)
Updated: 2009-12-14 10:31
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Prices of China's domestically made automobiles retreated slightly in November as dealers cut rates to clear inventory.
Prices fell 1.64 percent from a month ago, and 2.22 percent year-on-year in general, data released by the price monitor body of the National Development and Reform Commission (NDRC) has shown.
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Prices for imported automobiles rose 1.1 percent year-on-year, with that for passenger cars up near 5 percent while that for off-road vehicles down 3.66 percent.
Government subsidies and tax incentives have spurred brisk auto sales in China, with 12 million units sold in the first 11 months and more than 1.34 million units sold in November.
China is widely believed to overtake the United States to become the world's biggest auto market at the end of this year with annual sales set to top 13 million units.
