On Wednesday, FAW-VW announced a price adjustment on its four major auto series, JETTA, the new BORA, GOLF and SAGITAR, and said that the 2007 versions of these models would soon be available on the market.

Faced with fierce price competition, FAW-VW��s price cuts on its 26 models averaged over 9,000 yuan. The price of SAGITAR cars is more than 10,000 yuan lower, with the biggest axe falling on the SAGITAR 1.8T, which is now being sold for 189,800 yuan, 21,000 yuan less than the price tag it was initially given by the producer. The mildest cut was on the BORA HS, which came on the market at end of last year. Three of its six models are selling for just 1,000 yuan less. Prices will not be readjusted for some time, said a sales manager at the company.

According to the head of marketing at FAW-VW, Wang Feng, the aim of the price adjustment is to expand market influence as well as target consumer groups. The 2007 versions of these models, which have a slightly updated exterior and interior, will soon be on the market. The 2007 SAGITAR cars are already available, while the new JETTAs are being assembled. There is no 2007 version of the BORA HS.

By People's Daily Online