GM's Sharp Discount on Buick Envision Plus in China

General Motors' China joint venture with SAIC announced significant time-limited discounts on the Buick Envision Plus crossover, slashing prices by up to 26%. This move comes as passenger vehicle sales in China have been declining for five consecutive months due to slumping petrol-powered car sales.

General Motors' China joint venture with SAIC is set to offer substantial, time-limited discounts of up to 26% for its Buick Envision Plus crossover, the company announced on Tuesday.

The combustion model's new starting price will be 169,900 yuan ($24,060.38), a significant drop from its previous starting price of 229,900 yuan. The announcement was made through the joint venture's WeChat account.

This pricing strategy comes amid a consistent five-month decline in China's passenger vehicle sales, driven primarily by a slump in petrol-powered car sales. (Current exchange rate: $1 = 7.0614 Chinese yuan renminbi)

(With inputs from agencies.)