NewzForeign carmakers operating in China have slashed the prices of their domestically manufactured petrol-powered vehicles by more than 20 percent. Major international automotive brands, including Volkswagen and Toyota, implemented these steep discounts last month in an effort to maintain market viability.
The widespread discounting is a direct response to a cutthroat domestic market environment characterized by weakening consumer demand. International marques are being forced to offer these significant price reductions to survive amid intense competitive pressures.
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