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Top global car brands slash prices ahead of VAT cuts
Published on: 2019-03-19
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A customer consults with a salesperson in ShanghaiA customer consults with a salesperson in Shanghai


Mercedes-Benz, BMW, Jaguar Land Rover, Lincoln and other foreign carmakers announced price cuts for their models in response to the upcoming value-added tax cuts. The VAT rate in China for manufacturing sectors will be cut to 13% from 16% starting April 1st.

Employees work at the production line of the Chery Jaguar Land Rover plant in ChangshuEmployees work at the production line of the Chery Jaguar Land Rover plant in Changshu

Last Friday, Mercedes-Benz took the lead in reducing prices for its models, with the maximum drop of 64,000 yuan ($9,500) for Mercedes-AMG starting from March 16.

Imported Mercedes Benz cars at Tianjin PortImported Mercedes-Benz cars at Tianjin Port

BMW, Volvo, Lincoln and Jaguar Land Rover then joined the move, with price of Range Rover, a premium SUV model of Land Rover, cut by up to 85,000 yuan.

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