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Since yesterday, FAW Toyota's Corolla series, which had previously resisted price cuts, has started offering a 5,000 yuan discount across all models. At the same time, the previous 5,000 yuan discount on the Vios will end on September 30, while new promotions for the Corolla will continue until December 31. This is not an isolated case. According to reports, after August 25th, several major brands including Shanghai Volkswagen, Shanghai GM, Guangzhou Honda, and Yueda Kia have also launched significant price reductions.
Zhang Boshun, a member of the Shanghai Automotive Industry Association, noted that sales performance in July and August did not meet expectations, so manufacturers are now pushing hard to meet their third-quarter targets by focusing on September. For example, the Excelle Shanghai recently dropped its price by 8,000 yuan, and Shanghai Volkswagen has implemented price cuts through its dealers, fueling the current wave of reductions.
The Passat 1.8T manual and automatic versions now sell for 207,500 and 250,000 yuan respectively, below the guide price by about 20,000 yuan. The 2.0L manual and automatic models have also seen a further reduction of 10,000 yuan. While the Santana series has seen smaller price drops, other models like Fit 1.3, Excelle, Dongfeng Citroen, Chollima, Elantra, and Nanjing Fiat are also part of the price war.
For instance, the Fit 1.3 manual and automatic models are now priced at 9,380 and 103,800 yuan, respectively, 6,000 yuan below the guide price. Dongfeng Citroen’s Beverly model now offers a profit margin of 4,000 to 5,000 yuan, while Nanjing Fiat models are being discounted between 6,000 and 10,000 yuan. Even once-prized models like the Excelle sedan have seen price reductions, with the 1.8L automatic models selling below the guide price by 15,000 yuan in Beijing.
A sales representative from Beijing Dashangxing Automobile Sales Co., Ltd. told the reporter that the price cuts were implemented just two or three days ago, as part of a price alliance formed in Beijing based on manufacturer agreements. However, there are regional differences: while Buick can offer a 15,000 yuan discount in Beijing, it only provides an 8,000 yuan discount in Shanghai. This may be due to strong local demand in Beijing for cars under 100,000 yuan, and for mid-range vehicles from Beijing Hyundai and Volkswagen.
This round of price cuts differs from previous quarters in that it is not directly driven by manufacturers but rather through dealer-led initiatives. "Constant price cuts by manufacturers can negatively impact brand image," said a marketing expert. Zhang Boshun added that manufacturers increased sales rebates to dealers in August to encourage them to cut prices, shifting inventory pressure onto dealers.
Under weak sales conditions, dealers are facing greater inventory challenges. As a result, they are likely to pass on discounts to consumers to clear stock and meet sales targets. Meanwhile, some manufacturers have imposed strict penalties on dealers who sell below the set price. For example, Shanghai Volkswagen fines dealers 15,000 yuan per vehicle for the Passat and Santana models, while Shanghai GM's "Price Alliance" imposes fines as high as 100,000 yuan. Two dealers in Shanghai have already been penalized.
As the Golden Week approaches, more price reductions are expected. Despite the ongoing price competition, many dealers, including Guangzhou Honda and Shanghai GM, are preparing promotional activities from late September to October 1st to boost sales before the holiday. According to dealer Shen, this is a common practice, and as long as it doesn’t get discovered by the manufacturers, it’s widely accepted. Manufacturers may turn a blind eye during special periods like the National Day holiday.
Currently, the price war remains an effective promotional tool. If sales improve in September, the market could see a quiet period, but if sales remain sluggish, the price war may continue into October.
September 30, 2025