The China Passenger Car Association (CPCA) reported that China's premium car sales in February declined 2.9% from a year ago. Gasgoo summaries the sales data released by automaker and the CPCA and found out that such premium car brands as Mercedes-Benz, Cadillac and Volvo who long maintained a stable year-on-year (YoY) growth faced sales downturn last month.
Currently, mainstream premium car brands including Mercedes-Benz, BMW, Jaguar Land Rover, Volvo, Lincoln, Audi and Infiniti have already decided to cut suggested retail prices on models sold in China in response to the government's VAT drop policy for manufacturing industry. However, it isn’t immediately clear whether the price cut will boost sales performance in the future.
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