BMW, Mercedes among luxury carmakers to cut prices in mainland China amid weaker demand, lower VAT.
A clutch of luxury car brands including Mercedes-Benz, BMW and Volvo have cut the prices of their vehicles in mainland China after the government announced it would lower value-added tax.
For example, the cost of a new BMW X5 is now 759,900 yuan , down 20,000 yuan, or 2.6 per cent. A Mercedes C300 model has come down in price by 12,000 yuan, or 2.5 per cent to 474,800 yuan. In January and February, sales of passenger cars in mainland China slumped 9.8 per cent from the same two-month period a year ago to 3.33 million units, the China Automobile Dealers Association reported.
China’s economy slowed to the lowest pace since 1990 last year with gross domestic product expanding 6.6 per cent.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BMW, Mercedes-Benz lower prices in China after VAT dropBMW AG and Mercedes-Benz said on Saturday they will lower their prices in China, after the government announced it will reduce the country's ...
Read more »
BMW, Mercedes-Benz lower prices in China after tax drop[SHANGHAI] BMW AG and Mercedes-Benz said on Saturday they will lower their prices in China, after the government announced it will reduce the country's value-added tax (VAT) starting on April 1. Read more at The Business Times.
Read more »
BMW warns of difficult 2019 as it posts lower 2018 profitBMW will step up cost cutting in anticipation of a difficult year, the German carmaker said on Friday, as it reported a 7.9 per cent fall in 2018 ...
Read more »
BMW and Daimler seek 7 billion euros savings from shared platforms: reportsBMW and Daimler are in talks to cooperate in developing vehicle platforms for electric cars in a step that could save each carmaker at least 7 ...
Read more »
Man fined S$2,500 for jumping on carA nightclub reveller who had downed six bottles of whisky with friends while celebrating his birthday decided to end the evening by running over a car. Event management executive Chee Chu Siong had leapt on the bonnet of a BMW as it approached him in a carpark, before...
Read more »
BMW, Mercedes-Benz lower prices in China after VAT dropBMW AG and Mercedes-Benz said on Saturday they will lower their prices in China, after the government announced it will reduce the country's ...
Read more »
BMW, Mercedes-Benz lower prices in China after tax drop[SHANGHAI] BMW AG and Mercedes-Benz said on Saturday they will lower their prices in China, after the government announced it will reduce the country's value-added tax (VAT) starting on April 1. Read more at The Business Times.
Read more »
Oil prices stable amid sanctions and OPEC cuts, but economic concerns drag[SINGAPORE] Oil prices were steady on Friday amid support from ongoing supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC) and US sanctions on Venezuela and Iran, but weighed down by concerns that an economic slowdown will soon start denting growth in fuel demand. Read more at The Business Times.
Read more »
BMW warns of difficult 2019 as it posts lower 2018 profitBMW will step up cost cutting in anticipation of a difficult year, the German carmaker said on Friday, as it reported a 7.9 per cent fall in 2018 ...
Read more »