Thursday, 1 December 2016

China has introduced an additional 10% tax on "super cars", including Ferrari, Bentley, Aston Martin and Rolls-Royce.

China has introduced an additional 10% tax on "super cars", including Ferrari, Bentley, Aston Martin and Rolls-Royce.

The tax, affecting cars that cost more than 1.3m yuan ($189,000; £151,024), is aimed at curbing lavish spending and reducing emissions, authorities said.

It is part of a wider effort by Chinese authorities against flashy demonstrations of wealth, which has already hit other luxury brands. China is a key market for high-end carmakers..
Automakers have in recent years increasingly tailored their luxury models to appeal to Chinese buyers.

Both Rolls-Royce and Aston Martin are planning to release SUV models in the next year, seen as a response to a Chinese preference for large cars over sports vehicles.
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