/ Industry, News / China to give up its 10% tax for electric cars

China to give up its 10% tax for electric cars

Linked In Share
China to give up its 10% tax for electric cars

The central government’s website, citing a State Council decision, announced that all new-energy vehicles – the Chinese designation for electric, plug-in hybrid and fuel cell cars – would get exempted from the usual 10% purchase levy.

The tax break has a limited availability though – from September to the end of 2017 – and is the latest measure by the Chinese to address the rising issue of pollution. The world’s second largest economy and the biggest single auto market has in recent years seen a rise in the practices aimed at fighting off pollution – which is now among the biggest problems of the country – as well as energy dependence on oil.

“The exemption will help spur demand for electric cars and plug-in hybrids by lowering the purchase cost,” said Han Weiqi, a Shanghai-based analyst at CSC International Holdings Ltd. “Still, it remains to be seen whether the latest measure will have a decisive impact given other types of funding have been in place.”

On the other hand, electric car sales, even with more cities to impose caps on the sales of traditionally powered cars, have seen little traction so far in the country. The buyers are weary of the high acquisition price, also raising serious questions about the range and availability of recharging stations, as well as reliability in time.

Via Bloomberg

by Aurel Niculescu (my Google+) - Thursday, July 10th, 2014 - filed under Industry, News. Image credit: .
Linked In Share
Related Articles
10% tax china new energy cars


Discuss: China to give up its 10% tax for electric cars

Leave a Reply















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

New war erupts between F1 teams and media
New war erupts between F1 teams and mediaJul.27 (GMM/Inautonews.com) Lewis Hamilton versus Nico Rosberg is not the only raging battle in formula one. Red Bull's ...
Title battle sizzles in Hungary thriller
Title battle sizzles in Hungary thrillerJul.27 (GMM/Inautonews.com) A thriller at the Hungaroring has thrown fresh fuel on the simmering relations between Mercedes' ...
Team performance firing Lotus exit rumours – Grosjean
Team performance firing Lotus exit rumours – GrosjeanJul.27 (GMM/Inautonews.com) Romain Grosjean has admitted Lotus' lack of competitiveness in 2014 is driving rumours he could be ...
Briatore to inject more ‘show’ into F1 – reports
Briatore to inject more ‘show’ into F1 – reportsJul.27 (GMM/Inautonews.com) Bernie Ecclestone sees friend Flavio Briatore as the key to rescuing formula one's flagging ...
Massa bemoans spare parts struggle in Hungary
Massa bemoans spare parts struggle in HungaryJul.27 (GMM/Inautonews.com) Felipe Massa insists he was beaten in Hungary only because his car was not up to par with his ...
Honda targeting wins for McLaren return
Honda targeting wins for McLaren returnJul.27 (GMM/Inautonews.com) Honda is targeting nothing other than victory as it prepares to return to formula one in ...
Marko playing contract poker with Vettel – Lauda
Marko playing contract poker with Vettel – LaudaJul.27 (GMM/Inautonews.com) Niki Lauda has accused fellow Austrian and F1 rival Dr Helmut Marko of playing games to secure the ...
Angry Raikkonen says Ferrari must address ‘weaknesses’
Angry Raikkonen says Ferrari must address ‘weaknesses’Jul.27 (GMM/Inautonews.com) Kimi Raikkonen has urged Ferrari to improve, after the team's blunder cost him a competitive grid ...
Mercedes builds Hamilton all-new car for Hungary GP
Mercedes builds Hamilton all-new car for Hungary GPJul.27 (GMM/Inautonews.com) Lewis Hamilton will be at the wheel of a shiny new Mercedes in Sunday's Hungarian grand prix. Team ...
Lauda pressures Lowe after Hamilton fire
Lauda pressures Lowe after Hamilton fireJul.26 (GMM/Inautonews.com) Niki Lauda was putting the pressure on team boss Paddy Lowe late on Saturday, as technical trouble ...
Hamilton’s hopes up in flames in Hungary
Hamilton’s hopes up in flames in HungaryJul.26 (GMM/Inautonews.com) Lewis Hamilton's championship hopes went up in Mercedes-flavoured fire on Saturday. Far from ...
Even Renault looking forward to summer shutdown
Even Renault looking forward to summer shutdownJul.26 (GMM/Inautonews.com) Even F1's engine suppliers will take a 'summer break' in August. Eleven races into the season, and ...
Zetsche wants Ecclestone to give up F1 marketing
Zetsche wants Ecclestone to give up F1 marketingJul.26 (GMM/Inautonews.com) Dieter Zetsche, the chairman of Mercedes parent Daimler, has pointed the finger at Bernie Ecclestone ...
F1 teams to ‘follow’ Ecclestone to Russia
F1 teams to ‘follow’ Ecclestone to RussiaJul.26 (GMM/Inautonews.com) F1 team bosses have swerved around the political crisis in the wake of the MH17 air disaster. The ...
Sacked staff to sue Caterham – report
Sacked staff to sue Caterham – reportJul.26 (GMM/Inautonews.com) Caterham is facing legal action after sacking 40 members of staff earlier this month. As team ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

dacia duster tuning india 1
2015-hyundai-tucson 1
Comic-Con-Toys
tesla model s crash china 2014 1
Ford F-35 Lightning II Edition Mustang GT 1
mercedes-amg 4.0l v8 twin turbo 1
Honda NSX 01-2
ferrari f430 spider crash geneva kid 1
2015 mercedes-benz c-class cabrio interior 2
nissan note nismo 1
2015 ford falcon xr6 xr8 1
Mercedes-Benz-AMG-GT-1

More automotive from inautonews
“The circuit is a decent measure of a car’s mechanical grip, due to the need of having good traction out of many slow corners. In terms of aerodynamics, the problem for the teams is the same as that faced in Monaco: namely to maximize performance at the high-down force of the spectrum” Pat ...
read more
Inautonews Editors Section
PREVIEW – Hungarian GP 2014
PREVIEW – Hungarian GP 2014“The circuit is a decent measure of a car’s mechanical grip, due to the need of having good traction out of many slow corners. In terms of ...
Review – German GP 2014
Review – German GP 2014Taking Rosberg’s easy win out of the picture, the German GP was truly spectacular, full of wheel-to-wheel racing, some of the overtakes backfiring ...
Britain and Germany go to war
Britain and Germany go to war1995, the German Grand Prix at the old Hockenheimring. Damon Hill leads at the end of lap one ahead of Schumacher but loses the car at the first ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety General Motors – 6 new recalls announcedGeneral Motors is continuing to announce new recalls with six separate campaigns which are covering ... Recall roundup: Mercedes-Benz SLK and SL for Takata airbagsThe German based automaker Mercedes-Benz has recently issued a recall for the SLK and for the SL ...
Safety Section