SVW slashed Santana price
24/7/2003 15:31
Sino-German carmaker Shanghai Volkswagen Automobile Co Ltd announced
yesterday to cut the price of its Santana sedan to below 100,000 yuan, the
Xinmin Evening News reported.
Model involved in this price slash is the
standard version series, which, after the 9,000-yuan (US$1,088) cut, the
steepest price cut for Santana, sells for 98,900 yuan.
Analysts described the
cut as SVW's follow-in of the previous cuts on other leading domestic sedans.
They expected further cuts ahead for Santana as its profit margin remains thick
after this cut.
Manufacturing cost for a Santana sedan ranges from 60,000 to
70,000 yuan, according to their estimation.
Three days before yesterday,
Jetta, anther key domestically produced best-selling vehicle in China, announced
a price cut of 10,000 yuan.
Jane Chen / Shanghai Daily news
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