Government Warns Luxury Automakers To Stop Price Gouging Chinese Public

Xinhua, which acts as a mouthpiece for the Chinese government, said some imported cars were twice as expensive in China than in overseas markets. It added that the price of imported cars had become a contentious topic following investigations into how foreign companies in other sectors priced their goods.

The Xinhua report used the example of Audi Q7's model, which it said could be bought in Canada for 78,000 Canadian dollars, or about 460,000 yuan (£48,900). It claimed the same car was on sale in China for 1m yuan.

Xinhua said similar price differences existed between some unspecified Land Rover models, as well as the BMW X5.

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Holydude - 7/30/2013 11:17:39 PM

+1 Boost

Don't blame the corps for doing it, market economy principle really. Although those days may be numbered now that the government has spoken, and we all know you don't fuck with the Chinese government.

Satriani1 - 7/31/2013 1:48:35 AM

0 Boost

In China, the Audi Q7 starts at 827,000 Chinese Yuan (US$134,895)

The Chinese have it better than Singaporeans. In Singapore, the Audi Q7 starts at S$363,150 (US$285,652). A Honda Accord starts from S$191,900 (US$150,947).

In China, Audi is the most desired luxury brand -- ahead of BMW, Channel, Estee Lauder and Louis Vuitton.
http://www.digital-luxury.com/#!/2013/06/the-world-luxury-index-china-2013-the-most-sought-after-luxury-brands/

The Chinese desire the brand, and are willing to pay for it. Audi sold 228,139 cars in the first half of 2013 (an increase of 17.7% over the same period in 2012), making Audi the biggest-selling luxury car brand in China.
http://www.forbes.com/sites/kenrapoza/2013/06/28/chinas-favorite-luxury-car-brands/

Satriani1 - 7/31/2013 1:49:55 AM

-1 Boost

China should probe foreign luxury carmakers over prices - Xinhua
http://uk.reuters.com/article/2013/07/29/china-car-probe-idUKL4N0FZ0LR20130729

Satriani1 - 7/31/2013 1:49:55 AM

-1 Boost

China should probe foreign luxury carmakers over prices - Xinhua
http://uk.reuters.com/article/2013/07/29/china-car-probe-idUKL4N0FZ0LR20130729

jeffgall - 7/31/2013 9:04:59 PM

+1 Boost

Perhaps the Chineese should start to understand open market supply and demand. If the demand at the price is there, people will buy.