BEIJING, March 8 (TMTPOST) --The beginning of 2023 witnessed a significant decline in China’s auto sales in the wake of the end of the 50% purchase tax cut and subsidies for new energy vehicles. Since then, the “price war” has become the buzzword in the domestic car market, particu...
But China's electric vehicle sector still has strong policy support and electricity prices are relatively low, so the buying environment for EVs is still much better than for fuel cars, which helps explain their much higher than expected penetration rate of 30%, according to CPCA. In addition,...
Secondly, a large inventory will continue to drive down prices for various models. According to a survey og China Automobile Dealers Association (CADA), 23.2% of dealers had completion rates below 70% of their annual targets. Therefore, dealerships will inevitably lower prices to attract customers...
China's car production and sales will be impacted by the coronavirus in the first quarter, denting demand for auto sheet -- but the widespread closure of public transport during the crisis could incentivize new car purchases once things return to normal, S&P Global Ratings analysts said Monday....
About 100 models of over 40 auto brands in China have cut prices to reduce their inventory level. As the price war rages on, auto manufacturers’ cutting orders and bargaining prices from suppliers have become more intense. From March 1-12 this year, the sale of passenger cars in the Chine...
2021 sales recovered, despite remaining below 2019 levels, but supply chain shortages led to a slow recovery of sales in 2022. By the end of 2023, the global car sales volume had grown over pre-pandemic levels. China was the largest automobile market based on new passenger car registrations,...
Using granular gas price data and rich variation in corporate tax rates, we find that corporate taxes increase consumer prices. About 64% of the corporate tax is borne by consumers. The effect is stronger when firms have limited acces...
Similarly, the Corsair is one of the best luxury midsize SUVs, and it carries one of the more affordable starting prices in the segment. The Aviator likewise is a solid choice in this category. The Nautilus, which is also in the luxury midsize SUV segment, is near the bottom of its...
This has led to the absurd situation of new car prices dipping below second-hand in some cases and completely wiping out demand for used ones. The used-car lots of China’s smaller cities have become the latest battlefront. The melee shows no sign of abating. ...
Tesla announced in August that it has reduced the starting prices for certain Model Y long-range and performance versions by RMB14,000 (US$1,935), or down 4.5% and 3.8%, in China. Following the cuts that day, two versions now cost as low as RMB299,900 and RMB349,900, respectively....