Auto manufacturer First Automobile Works has slashed the price of its Audis just after the weeklong National Day holiday.

The company's A6 and A4 models have had their prices cut by 20,000 yuan, or about 2,400 US dollars, and the cheapest Audi model is now for the first time available for less than 300 thousand yuan.

Industry insiders say the move was caused by Japanese company Nissan's upgrades to its Teana model, which was released in late September.

The more luxurious car, with more accessories, is now in the same bracket as Audi's A6, and its attractive price is favored by Chinese businessmen.

(CRI.com October 8, 2004)