General Motors has fired off its latest salvo in a renewed price war in China with the launch on watch Lady Chatterley's Daughter (2011)Saturday of its all-new Cadillac XT5 sports utility vehicle with a special limited-time offer ranging from RMB 265,900 to RMB 335,900 ($37,917-$47,899). This represents a 27%-33.5% price cut from its suggested retail price range of between RMB 399,900 and RMB 459,900 for the brand’s best-selling midsize SUV, which features a large, 33-inch curved ultra-retina screen for in-car entertainment and basic pilot functions such as lane centering assist. The move comes immediately after another temporary cut by the US automaker on Tuesday when its refreshed Buick Envision Plus compact crossover was reduced to a starting price of RMB 169,900 in China compared with the suggested price of RMB 229,900. GM is not the only global automaker that is attempting to defend its market share with an aggressive pricing strategy. Volkswagen on Sept. 10 launched the redesigned Passat, one of its top-selling models, priced from RMB 159,900 until the end of the month, representing a reduction of RMB 17,000 from the original price. [General Motors release, TechNode reporting]
