China's luxury car market cooling BMW Mercedes-Benz cut about two percent

Geely Automobile News According to a report by Bloomberg News recently, as China's auto market turned cold, luxury cars gradually moved toward the buyer's market, and luxury car brand dealers such as BMW, Daimler and Audi all issued large discounts to maintain sales.

As the government introduced restrictions on the banking sector and the central bank tightened loans, the auto market demand has been restrained to a certain extent, and the boom in China's luxury auto market has shown signs of cooling. In Beijing, the discounted price of the BMW 3 Series Sedan is 19% lower than the suggested retail price, while some Mercedes Benz dealers set a 20% discount rate for the C-Class Elite models. The Audi A6L Fengtai District also sells for 16% less than the suggested retail price.

According to J. D. According to data from Power & Associates Consulting, the demand for high-end luxury cars has increased year-on-year, and has dropped from 48% in the first eight months of 2010 to 29%. J. D. Power believes that the current high inventory of luxury car dealers in China will force dealers to cut prices.

Scott Laprise, an analyst at CLSA Asia-Pacific Markets, pointed out that the current market has entered a cycle of price cuts: “Dealers are concerned about slower sales and therefore selectively reduce prices in the luxury segment. They see the overall market. In the downside, and hope to be able to stop it, maintain the original sales growth momentum." It believes that the contraction of the Chinese economy will obviously lead to users of mid-to-high-end models cancel or postpone the purchase plan.