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Chinese auto brands may keep China capitulates: Another round of auto stimulus

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Chinese auto brands may keep capturing market share thanks to
the latest government incentive. On Oct. 1, China’s new-vehicle
purchase tax falls to 5% from 10% for 1.6-liter engines and smaller.
Small vehicles account for the majority of sales for domestic
automakers like Wuling, Baojun and Geely. A similar tax cut in
2009 helped local brands bolster their market share to 45% from
40% within a year. Chinese brands accounted for 40% of the
nation’s vehicle sales for the year-ended August.

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Chinese auto brands may keep capturing market share thanks to the latest government incentive. On Oct. 1, China’s new-vehicle purchase tax falls to 5% from 10% for 1.6-liter engines and smaller. Small vehicles account for the majority of sales for domestic automakers like Wuling, Baojun and Geely. A similar tax cut in 2009 helped local brands bolster their market share to 45% from 40% within a year. Chinese brands accounted for 40% of the nation’s vehicle sales for the year-ended August.

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