The second decade of March in the Chinese car market was marked by a fantastic fall in new car prices. The collapse affected more than 86 models sold in the local market. According to Southern Metropolis Daily, Dongfeng Motor cut prices by an average of 90,000 yuan ($13,091) per car, while BMW cut prices by 100,000 yuan ($14,510). In many models, the price tags have been rewritten “in red” for almost half!

Toyota is now in full swing with the advertising slogan: “buy one car, get another free”. BYD, Changan Auto and Chery would compete in the “unprecedented generosity auction”. Experts say the desperate massive dumping in China’s car market will last at least until the end of the May holiday. Because then the car companies will summarize the results of the second quarter and report them to owners and investors.

Industry insiders also point to the need to liquidate stocks of passenger cars in anticipation of the mass launch of a large number of new models in the markets in April-May this year as one of the reasons for what is happening. In addition, they remind that the next phase of tightening local legal requirements for car emissions has arrived. With an unprecedented sell-off in China’s new car market, analysts are predicting tough times for used car dealers.

The current situation in the automotive industry in China opens an excellent “window of opportunity” for Russian companies and private traders involved in importing cars to our country from the Asian region. They now have a unique opportunity to stock up cheaply, which in the future can help lower prices in the Russian car market. But it’s not exactly…

The second decade of March in the Chinese car market was marked by a fantastic fall in new car prices. The collapse affected more than 86 models sold in the local market. According to Southern Metropolis Daily, Dongfeng Motor cut prices by an average of 90,000 yuan ($13,091) per car, while BMW cut prices by 100,000 yuan ($14,510). In many models, the price tags have been rewritten “in red” for almost half!

Toyota is now in full swing with the advertising slogan: “buy one car, get another for free.” BYD, Changan Auto and Chery would compete in the “unprecedented generosity auction”. Experts say the desperate massive dumping in China’s car market will last at least until the end of the May holiday. Because then the car companies will summarize the results of the second quarter and report them to owners and investors.

Industry insiders also point to the need to liquidate stocks of passenger cars in anticipation of the mass launch of a large number of new models in the markets in April-May this year as one of the reasons for what is happening. In addition, they remind that the next phase of tightening local legal requirements for car emissions has arrived. With an unprecedented sell-off in China’s new car market, analysts are predicting tough times for used car dealers.

The current situation in the automotive industry in China opens an excellent “window of opportunity” for Russian companies and private traders involved in importing cars to our country from the Asian region. They now have a unique opportunity to stock up cheaply, which in the future can help lower prices in the Russian car market. But it’s not exactly…