A total of 30 car lines sold by GM’s joint ventures in China were eligible for the 50% vehicle purchase tax cut from October 1 through the end of 2016. The government reduced the tax levied on new passenger vehicles with engines of 1.6 litres and under to 5% from the previous 10%. GM and its joint ventures have a total 128 trim levels that will benefit from this incentive policy, the automaker said.
Products with engines of 1.6 litres and below accounted for about 80% of GM’s passenger vehicle and light van sales in China in the first eight months of 2015.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Models such as the Opel Astra-based Buick Excelle GT are eligible for the new incentive.
