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50% purchase tax cut turns around sales of small imported cars

Source: Beijing Business Today | Date: Nov. 24

  • The 50% purchase tax cut policy has proved effective in the imported car market.

  • Data shows that sales of 1.6L-and-below imported vehicles rose 13.9% in Oct. year over year. This is the first time this year that the monthly sales of 1.6L-and-below imported vehicles have surpassed sales in the same period last year.

  • Industry insiders believe that the 50% purchase tax cut policy is the main reason for the sales growth of small-displacement imported vehicles. However, the imported car market on the whole is still in a major transition period due to high inventories and the market downturn.

  • Some insiders hold that sales of small-displacement imported cars will continue to grow as the car market, stimulated by the tax cut policy, reaches its sales peak over the next two months.