Shanghai (ZXZC)- FAW-Volkswagen, SAIC-Volkswagen's Skoda and MG recently said they would lower their suggested retail prices in China following 7 premium car brands who had already announced price cut decisions before China's VAT drop policy officially comes into effect.

FAW Volkswagen said it would decrease the prices for both entire model series starting March 27. The price of the all-new CC has been cut by up to RMB8,000. Besides, the Tayron and the T-Roc SUV will be sold at RMB313,900 and RMB203,800 respectively, a drop of RMB5,900 and RMB6,000 from original prices.

SAIC Volkswagen's Skoda also decided to lower prices on such models as the Superb, Octavia, Rapid, Kodiaq, Karoq and Kamiq. The price of the Octavia station wagon has been decreased by up to RMB15,000 to RMB129,900. Apart from the discount, the automaker also launches 40,000 sets of 3-year maintenance service to consumers. The price reduction has gone into effect on March 27 as well.

MG, SAIC Motor's self-owned car brand, also cut prices of the MG HS, the new MG 6 and the MG ZS. All three models can enjoy a combined discount of up to RMB29,000, involving the subsidy for vehicle purchase tax, personal loan, discount offered at auto exhibitions and incentives for rural area.

Prior to the three joint-venture car brands and China-owned brand, Mercedes-Benz, BMW, Jaguar Land Rover, Volvo, Lincoln, Audi and Infiniti had issued statements to lower the suggested retail prices on models sold in China.