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  • China currently levies a 'car purchase tax' on new cars at 10 per cent, which after the tax cut will be reduced to 5 per cent. This will make cars more affordable although will only be applicable on cars whose engines are smaller than 1.6-litres. Interestingly, almost 70 per cent of all cars sold in China fall under this category. Amidst the on-going trade war, China had increased taxes on American made cars to a whopping 40 per cent while other imported cars from other regions of the world are taxed at 15 per cent.
    China To Cut Taxes On New Cars

Reviews

  • Another Chinese automaker is showing vehicles this year at the auto show in Detroit, raising the perennial question about when these companies might start selling in the international markets.
    5 Biggest Chinese Carmakers
  • The second practice session at the Shanghai International Circuit went underway and Hamilton (who was left out in the first session) set the fastest lap clocking a 1:38.315.
    2014 F1 Chinese Grand Prix: Hamilton faster than Alonso in FP2
  • Fernando Alonso set the fastest time of 1m 39.783s the first practice session at the Chinese Grand Prix, beating Nico Rosberg by almost 0.4s. With the new Ferrari team principal, Marco Mattiacci, taking over from Stefano Domenicali, watching over, Alonso was quickest for the majority of the session.
    2014 F1 Chinese Grand Prix: Alonso sets pace ahead of Rosberg in FP1