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China's Tianjin FAW Xiali cuts car prices by up to 13 pct


Published : Thu, 22 Mar 2007 08:05
By : Agencies
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BEIJING (XFN-ASIA) - Budget car maker Tianjin FAW Xiali Automotive Co Ltd (SZ 000927) reduced the prices of six of its leading models by up to 13 pct beginning yesterday, said parent company First Automotive Works Co Ltd (FAW).

The move is aimed at 'stabilizing Tianjin FAW Xiali's top position in the compact car market', said FAW in a statement.

Sales of Tianjin FAW Xiali stood at around 200,000 units in 2006, including 160,000 units of its own Xiali brand, and 40,000 cars made by its joint venture with FAW and Toyota.

derek.jiang@xinhuafinance.com

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