The Polo series of cars, slated to hit the Chinese market on April 8, will be sold at prices ranging from 127,500 yuan (US$15,300 yuan) and 148,000 yuan (US$17,600), the Shanghai Volkswagen Corp announced on April 2, 2002.
The newly launched 1.4 liter series includes three types of hand-clutch and two types of automatic-clutch sedans.
Shanghai Volkswagen's Polo is the first compact car to hit the Chinese market synchronously with the world market. The German Volkswagen launched the Polo series in Europe in January.
As competition is getting increasingly fierce in China's car market following the country's entry into the World Trade Organization (WTO), the prices of Polo cars are widely expected to bring about great changes in Chinese automobile prices.
Sources say that an imported 1.4 liter hand-clutch Polo is valued at 160,000 yuan, including tariff. The total cost of purchasing the same model is estimated at between 120,000 and 130, 000 yuan by 2006 when the tariff will be reduced by 75 percent.
It is expected that 30,000 Polo cars will be produced in China this year.
(Xinhua News Agency April 03, 2002)
