In the past six months, the auto market has seen an average of 25 models per month undergoing price reductions. In the first three months alone, nearly 80 models were involved, covering more than 20 major automotive brands. The number of models undergoing price cuts has decreased compared to the full year of 2003, and the decline in the first half of this year has exceeded 9%. January saw most price cuts concentrated on low-cost vehicles. As is usually the case, economic cars are the first to see price adjustments. This year was no different. On January 1st, Chongqing Changan Suzuki announced a price cut for the Antelope model, with a maximum reduction of 10,000 yuan. On the same day, Dongfeng Yueda Kia reduced the price of the 04 Maxima by several thousand to 10,000 yuan. Compared to the previous model, the new Maxima added features like central locking and rear power windows, yet its price dropped by 11,000 yuan. On January 6th, Zhengzhou Nissan adjusted the prices of its pickup and Paladin models. The two-wheel drive version of the Paladin was cut by 10,000 yuan, while the pickup received a general reduction of 5,000 yuan. After the adjustment, the Paladin's price fell below 200,000 yuan, with the two-wheel drive model priced at 199,800 yuan. February brought a slight increase in price cuts after the initial inventory clearance. February saw the highest number of models participating in price reductions. On February 1st, Beijing Jeep completed a full price adjustment. The GLX2.4 model of the Mitsubishi Pajero SPORT fell below the 200,000 yuan mark for the first time since its launch. Chevrolet Trailblazers also saw significant price drops, with some models decreasing by as much as 20,000 yuan. Geely’s sedan announced a 4,000-5,000 yuan price cut across the board, causing a ripple effect in the mini car market. Xiali quickly followed suit, cutting prices by up to 10% on its main models. Hafei Racing also implemented a 3,000-5,000 yuan price reduction, with the lowest model priced at 76,800 yuan. March saw many dealers voluntarily reducing their prices. The market remained relatively quiet, with manufacturers still trying to understand the underlying causes of the slowdown. On March 10th, Santana dealers secretly lowered prices, with the original 98,900 yuan model now priced at 91,100 yuan. Similarly, the Century's rookie metal paint ABS model dropped from 115,000 to 107,500 yuan. April was marked by aggressive promotions tied to the "May 1" holiday. Many models saw price cuts, with manufacturers and dealers eager to capitalize on the Golden Week. Dongfeng Citroen launched its first price reduction campaign since the introduction of Azerbaijan, offering dealers a profit margin of 8,000 yuan. The Elysee series also saw a price drop, with the lowest model reaching 10.98 million yuan. NISSAN announced a 10,000-20,000 yuan reduction on the new Bluebird. Mercedes-Benz S600 and BMW 760Li models saw significant drops, falling from 1.85 million to 1.75 million yuan. The Maybach also dropped over one million yuan, from 12 million to 10.9 million yuan, due to the cancellation of import licenses next year. May saw Shanghai GM leading a massive price-cutting campaign, which had a major impact on the auto market. FAW Hongta introduced the new “Happiness Messenger” model, with some old models seeing price reductions of 4,000-10,000 yuan. Nanjing Fiat also reduced prices on Palio, Siena, and weekend wind models. On May 17th, Shanghai GM shocked the market by announcing a full price cut on its benchmark models, with an average drop of 8% and some models dropping over 11%. June saw a widespread collapse in car prices, with Shanghai GM’s actions continuing into the second half of the year. Volkswagen and Citroen also reduced prices, signaling more price cuts to come. Alto models saw significant price drops, with some models falling by over 13%. Dongfeng Motor Co. also reduced prices on its Sunshine and Blue Jays models. Volkswagen products in China saw broad price cuts, with the Jetta and Golf series experiencing reductions of up to 12,000 yuan. Dongfeng Citroen also adjusted the price of the Elysee sedan, with the highest price cut reaching 12,000 yuan.

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