Automotive News   |   Automotive News Europe   |   Autoweek   |   Automobilwoche

Automotive News China Newsletter
Register our free newsletter, sent each Monday and Thursday

     Automakers   Suppliers   Auto Show   Comment   Car Cutaway   Newsletters   Press Releases   Chinese Version   Register for Newsletter
  Contact Us:   Editorial   Advertising   Subscription Information   |   About Us   Media Kit
Home >> Automaker Email this story   Print this story
 
China likely to extend EV tax break, group predicts
Bloomberg | 2017/7/14

China is likely to extend a purchase-tax exemption on electric cars to promote the vehicles, whose sales have outpaced other segments, the China Association of Automobile Manufacturers predicts.

The exemption on the 10 percent purchase tax is supposed to expire at year end, but it is ¡°highly likely¡± to be renewed, said Xu Yanhua, the association¡¯s deputy secretary general.

Xu made his comments Tuesday during a briefing in Beijing. 

An extended tax break likely would benefit automakers such as BYD Co. and BAIC Motor Corp., which produce some vehicles that qualify for the exemption.

In the first six months, sales of plug-in hybrids and battery-electric cars rose 36 percent to 164,000 vehicles. For the period, industry sales of light vehicles grew only 1.6 percent, according to CAAM.

Separate data from the China Passenger Car Association on Tuesday showed that retail sales of passenger vehicles in the first half of the year fell for the first time since 2005.

China has subsidized the sale of EVs to ease its reliance on imported oil and reduce air pollution. 

China is the world¡¯s biggest electric-car market, accounting for more than 40 percent of global EV sales, according to the International Energy Agency.

Related Stories
  • SAIC-GM-Wuling joint venture launches first Baojun EV
  •     --Published:2017/25/7
     
  • Toyota plans EV output in China as early as 2019, report says
  •     --Published:2017/24/7
     
  • As EV quotas loom, automakers poised to buy carbon credits
  •     --Published:2017/21/7
     
  • Faraday hires veteran BMW exec to guide turnaround
  •     --Published:2017/21/7
     
  • EV sales continue surge as subsidies attract buyers
  •     --Published:2017/18/7
     
  • VW taps electric Golf to help meet China's EV quota
  •     --Published:2017/18/7
     
  • Chinese investors buy Japanese luxury EV sports car maker
  •     --Published:2017/18/7
     
  • Faraday cancels Las Vegas EV assembly plant
  •     --Published:2017/14/7
     
  • Automakers seek relaxation of quotas on EV sales
  •     --Published:2017/14/7
     
  • London Taxi's new electric cabs to debut next year in Amsterdam
  •     --Published:2017/14/7
     
  • Bowing to Beijing, VW accelerates EV timetable
  •     --Published:2017/7/7
     
  • Beijing allows foreign automakers to form new EV ventures
  •     --Published:2017/4/7
     
  • VW to build electric motors for EVs in Tianjian
  •     --Published:2017/4/7
       
     
     

    Our Newsletter Editions
    Automotive News China produces two email newsletters each week. You can sort your news by the articles highlighted in each of our newsletters here.

    Select your newsletter     

     

    Automotive News China
    Room 1303, Building 2, Lane 99, South Hongcao Road,
    Shanghai 200233
    Telephone: 86-139-1851-5816
    Fax: 86-21-6495-0895
     
    Home | Help Center | About Us | RSS
    Entire contents © Crain Communications, Inc.
    Use of editorial content without permission is strictly prohibited. All Rights Reserved.
    »¦ICP±¸06057291ºÅ