SUV prices in China continued to decline in August as the segment's sales rose and as automakers ramped up production of popular SUVs and crossovers, according to the National Development and Reform Commission, China's price regulator.
For the month, prices of domestically built SUVs dipped 2.5 percent year on year while prices of imported SUVs dropped 2.1 percent.
The commission said prices of sedans and microvans built in China remained virtually unchanged from a year earlier. However, prices of imported sedans declined 1.5 percent.
The commission did not disclose price changes for multipurpose vehicles.
Soft SUV prices underscore the battle among automakers for a bigger share of China's only fast-growing product segment. Chinese automakers and foreign rivals alike have expanded SUV production and must now offer steeper discounts to prop up sales.
So far, the strategy is working. In August, SUV deliveries surged nearly 45 percent year on year even as sedan, MPV and microvan sales fell sharply.
Industry sales of light vehicles in August fell 3.4 percent to 1.42 million vehicles, according to the China Association of Automobile Manufacturers.