久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Motoring

Small-engine tax policy drives car sales

By Hao Yan | China Daily | Updated: 2016-11-14 09:29

Small-engine tax policy drives car sales

A visitor and his child try out a new car at an auto show in Wuhan, Hubei province, on Oct 12,2016. [Photo/Xinhua]

Growth expected to slow, SUV segment to grow, if incentive not renewed for next year

China's auto industry is achieving double-digit annual growth as consumers rush for small-engine cars before the expiration of the tax cut policy, breeding market deceleration in 2017 as a side effect.

The world's largest auto market had about 2.65 million vehicles sold in October, registering 18.7 percent year-on-year growth, according to the China Association of Automobile Manufacturers.

October's deliveries fueled the accumulated market volume in the first 10 months to 22 million units with a 13.8 percent jump.

Passenger car sales climbed for an eighth consecutive month, at a pace of 20.3 percent monthly, to 2.3 million units, as consumers rushed to buy those powered by a small engine no larger than 1.6 liters to qualify for the halved tax policy that is due to expire at the end of the year, according to CAAM.

The favorable policy halved the purchase tax to 5 percent for small-engine models and has been a driving force for the car market since October of last year, according to Dong Yang, executive deputy president of CAAM.

Dong said: "The tax cuts may contribute about five percentage points in the annual growth rate. The market's annual growth next year may stay at 8 percent if supported with the tax cuts."

Deputy Secretary-General of CAAM Ye Shengji anticipates a growth rate faster than 8 percent for 2016, after the market laid a solid foundation for swift growth. Earlier this year, CAAM predicted a growth rate of 6 percent.

The China Passenger Car Association's secretary-general Cui Dongshu last week predicted an even higher growth rate, around 13 percent for this year.

CAAM's subsidiary, the China Passenger Car Association, found wholesale of cars with engines no larger than 1.6 liters rose 26 percent in October, compared to 16 percent for those with larger engines.

Local media reported that the central government is mulling an extension for the tax policy. A meeting involving several related departments was held earlier this month to survey the advice.

CAAM has joined hands with carmakers in lobbying the government for the policy extension, with some suggesting alternative policies including raising the taxation rate on small cars to 7.5 percent.

A consumption taxation reform was reported as saying the Ministry of Finance would lower the tax rate to 1 percent for cars below 1 liter, but collect more tax on gas guzzlers. However industrial insiders pointed out that taxation reform won't be put in place before 2017.

Dong noted: "The auto market growth rate might slow down to 3 percent if the policy is not continued and the purchase tax on small cars is increased back to 10 percent."

On the other hand, even if the tax cut policy was extended for another year, the positive effect on the market would diminish, because many customers made their car purchases this year to utilize the tax break, commented Jia Xinguang, a senior analyst with the China Automobile Dealers Association.

Considering the diminishing benefits of the purchase-tax cut, Fitch Ratings predicted that the growth pace of the Chinese passenger-vehicle sales will decelerate to the mid-single-digit in 2017.

Fitch Ratings also said the strong sales momentum of the sport utility vehicle segment is expected to continue at a slower speed in 2017, and rising penetration in lower-tier cities and required upgrades will be the ongoing drivers.

"The market share of SUVs is likely to converge with that of sedans, as the consumers' preferences continue to shift amid increasing product launches by both Chinese and joint venture brands," said the British firm in the report.

The SUV segment profit margin is projected to normalize in 2017, owing to a rapid increase in SUV product offerings, leading to more aggressive pricing and diluted sales volume per model, after the segment's sales growth reached a significant 45.6 percent in the first 10 months this year.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 手机福利片 | 99久久精品久久久久久清纯 | 成人h网站| 制服诱惑中文字幕 | 久草免费资源视频 | 另类视频一区 | 毛片免费观看成人 | 国产成人一区二区三区 | 精品一久久香蕉国产线看播放 | 欧美国产亚洲一区 | 午夜性爽快免费视频播放 | 欧美激情一级欧美精品 | 高清一区二区 | 免费观看日本高清a毛片 | 日本精品久久久久久久 | 久久国产精品无码网站 | 亚洲欧美日本韩国综合在线观看 | 娇喘嗯嗯~轻点啊视频福利 | 国产成人高清视频在线观看免费97 | 欧美性色黄在线视 | 日韩欧美理论 | 国产成在线观看免费视频成本人 | 美女一级毛片免费不卡视频 | 国产毛片不卡 | 欧美成在线播放 | 日韩在线高清视频 | 国产欧美日韩亚洲精品区2345 | 日韩美女网站 | 国产亚洲片| 伊人国产在线视频 | 午夜在线成人 | 亚洲精品国产成人7777 | 中国女人18xnxx视频 | 成人黄色在线观看 | 国产一区二区在线不卡 | 最新亚洲人成网站在线影院 | 大毛片a大毛片 | 新版天堂资源中文8在线 | 欧美在线视频精品 | 国产91在线 | 亚洲 | 美女视频一区二区三区 |