BAODING, Hubei – Great Wall Motor cut retail prices of four variants of the Hover CUV by ¥8,000 ($1,000) on August 10, the first time the price of the model has been cut since it was launched in June 2005.
The 4×2 Luxury variant now retails at ¥105,800 ($13,225), the 4×2 Super Luxury ¥119,800 ($14,975), the 4×4 Luxury ¥117,800 ($14,725), and the 4×4 Super Luxury ¥131,800 ($16,475).
The Hover ranked third in terms of sales among leading SUV models in the first seven months, with 14,011 units sold, according to CBU-Autostats.
Less than a week later on August 16, it cut retail prices for its Deer and Sailing series pickups, which are powered by its independently developed 2.8TDI diesel engines, by ¥5,000 ($625) and ¥4,000 ($500) respectively on August 16.
The Deer series pickups now retail for between ¥65,800 ($8,255) and ¥75,800 ($9,475), while the Sailing series sells for ¥76,800 to ¥81,800 ($9,600 to $10,225) The new prices will be in effect until October 31.
The company spent 14 months on the development of the 2.8TDI diesel engine, which meets Euro II emissions standards and has a rated fuel consumption rate of six liters per 100 kilometers at constant speeds of 90 km/h.
Great Wall has led the pickup market in China for eight consecutive years. In the first seven months of this year, sales reached 24,955 units, accounting for roughly one-third of the sector.