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Volkswagen AG slashes prices by up to 12%
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Volkswagen AG, the biggest overseas car maker in China, slashed prices of some locally made models by as much as 12 percent amid tumbling demand for new vehicles.

The 2-liter Touran was cut to 149,800 yuan (US$22,000) from 169,800 yuan, Shanghai Volkswagen Co said on Tuesday. The 1.4-liter Polo was cut by 4 percent to 108,600 yuan.

(Shanghai Daily February 18, 2009)
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