China auto prices drop in April

• Source: The Global Times
• [16:08 May 13 2009]
• Comments

By Shi Jierui

Prices of Chinese cars dropped 0.7 percent in April from a year earlier, the National Development and Reform Commission (NDRC) said in a statement on its website Tuesday.

It said the prices of passenger vehicles dropped 4.08 percent last month from a year earlier, while prices of commercial vehicles increased 7.57 percent.

The NDRC said that auto prices in China will continue to decline after new vehicle models are introduced.

But the commission didn't elaborate on the factors behind the price drops.