Wendy Zhang/ Shanghai Daily news

Record sales in the domestic car market are expected to arrive soon, with 81.9 percent of consumers with annual household income of more than 50,000 yuan (US$6,165) planning to purchase cars this year or next, according to the latest survey by www.cheshi.com.cn, as cited in eastday.com today.
Some 40.4 percent of respondents with annual household income of more than 50,000 yuan said they would purchase cars by the end of this year, with 57 percent to buy new models.
The peak period for car sales will arrive in the near future, so car manufacturers are gearing up for more price wars to lure buyers.
With car makers and dealers usually offering preferential policies at the year-end to complete their sales targets, consumers consider it a good time to buy.
In August, mid-range sedans such as the Buick Regal G2.5 model was sold at less than 190,000 yuan; the Regal G2.0 was down to less than 190,000 yuan at the end of September and the Regal GL2.5 model was selling at only 210,000 yuan last month. Passat and Mondeo models also feature in the price war, with the Passat B51.8T (MT) priced at around 5,000 yuan less than it was in September.
High-end sedans have also seen price reductions, including the Buick Royaun, Audi A6 and Toyota Crown.
Shanghai General Motors, Beijing Hyundai, Shanghai Volkswagen, Guangzhou Honda and First Automotive Works-Volkswagen were the top five car makers in terms of sales volume up to the end of September.
Several rounds of price cutting have narrowed the profit margins of the car manufacturers, so price cuts this year will be much smaller than last year's 13 percent. However, most consumers consider current prices as still too high, said an industry analyst.