Manufacturing News

Great Wall cuts price of top-selling sedan more than 10%

Great Wall Motor Co. slashed the price of its C30 compact car by more than 10 percent -- the third model to receive a price cut in June, as the privately held automaker battles to maintain market share.

The company's C30 compact sedan previously had a starting price of 66,500 yuan ($10,700). The car is fitted with a 1.5-liter gasoline engine and a six-speed Getrag manual transmission.

On June 16, Great Wall reduced the prices of its most popular SUV models -- the Haval H6 compact SUV and its Haval H2 small SUV -- by 6,000 yuan and 5,000 yuan respectively.

Great Wall, headquartered in the north China city of Baoding, is China's largest SUV maker. The company 371,412 vehicles in the first five months, up nearly 25 percent from a year earlier.

The company has gained considerable market share in a relatively soft market. In the first five months, China's light-vehicle sales grew only 3.7 percent year on year, down from 9.9 percent in 2014.

To revive flagging sales, General Motors, Ford Motor Co., Hyundai Motor Co., Volkswagen AG and others have offered steep discounts.

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