Monopoly probe stirs lower luxury-car prices
Major international luxury car manufacturers are reducing prices of their vehicles, parts and after-sales service in response to the government’s anti-monopoly investigation of the auto industry.
British luxury vehicle manufacturer Jaguar Land Rover said that effective Aug 1, the suggested retail price of the Range Rover 5.0 V8, Ranger Rover Sports 5.0 V8 and Jaguar F-Type Cabriolet will be reduced by an average of 200,000 yuan ($32,323).
German brand Audi, the sales leader in China’s luxury vehicle segment, also announced that it will cut the prices of Chinamade models’ spare parts by up to 38 percent starting on Aug 1, in response to the anti-monopoly investigation into the auto industry. (Photo 1)
A corn field in the western areas of Henan province shows the impact of a drought since mid-May.