Prices of SUVs in China dropped noticeably in June as Chinese automakers' sales of small, entry-level SUVs rose sharply.
Last month, prices of SUVs produced in China dropped 3 percent year on year, while prices of imported SUVs declined 6 percent, according to the National Development and Reform Commission, China's price regulator.
Chinese brands typically price their compact SUVs from 66,000 to 80,000 yuan ($10,600 to $12,900). By contrast, foreign brands price their SUVs of similar sizes above 100,000 yuan.
With a pricing advantage, SUV deliveries at domestic Chinese brands surged 55 percent from a year earlier to roughly 213,100 vehicles in June. Domestic brands accounted for 48 percent of total SUV sales in China last month.
Pricing in the sedan segment showed mixed results last month. Prices of domestically produced sedans rose 2 percent while prices of imported sedans dipped 2 percent.
The commission did not disclose price changes for other types of passenger vehicles in June.