Post New Year Price War Is On!
Published March 3, 2007 (Updated: March 3, 2007)
The same as the period after Christmas and but before Easter is usually a dead period for new car sales in the West, in China the first few weeks after Spring Festival/Chinese New Year are always a bit dead, usually up until the Labor Day holiday on May 1st, however this year should be interesting.
GM have just ignited a price war by cutting prices on the Buick Excelle model from anywhere between 7,000 and 10,000rmb – Quite a good chunk of cash! When the Buick Excelle Sedan(pictured) HRV and the wagon went on sale, the prices were from 117,800rmb to 156,000rmb.
Shanghai GM managed to boost Excelle sales by 17% to 176,000 units last year (06) quite an increase China Car Times might say. In terms of sales, the Excelle was only just behind the VW Jetta in terms of sales in the mid to upper class sales sector in 2006.
Perhaps Buick are trying to sell off all of their old inventory prior to a big upgrade next year in 08.