China to rule out electric motorcycle purchase tax from Jul

Published: May 29, 2019 14:42

Save

This is expected to lower the cost to buyers by hundreds of yuan

SHANGHAI, May 29 (SMM) – Chinese consumers who purchase electric motorcycles and light electric motorcycles will be exempted from purchase taxes from July 1, according to the notice published by the Ministry of Finance on May 23.

The exemption of purchase taxes is expected to lower the cost to buyers by hundreds of yuan, and spur sales across the market.

This comes as a boost to market sentiment after the new national standards for electric motorcycles took effect earlier this year.

Electric motorcycle

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

7 hours ago

Platinum Prices Fluctuated Upward, Low Downstream Purchase Willingness Led to Thin Trading [SMM Daily Review]

7 hours ago

[SMM Silver Morning Review] Market Sluggish, Slight Premiums Amid Weak Demand; Shanghai Sees Limited Transactions

[SMM Silver Morning Review] Today, SMM silver ingot spot quotes were mainly at parity or slight premiums. The market continued its previous downward trend, with premiums remaining generally stable. In the Shanghai region, a small volume of transactions were concluded at slight premiums, with mainstream quotes at parity or slight premiums, and some transactions also concluded at parity. The overall market consolidated on the weak side, with sluggish trading.

7 hours ago

8 hours ago

Silver Ingot Market Consolidated Weakly, Downstream Waited and Watched with Sluggish Trading [SMM Daily Review]

[SMM Daily Review: Silver Ingot Market in the Doldrums, Traders Held Firm on Offers but Downstream Purchase Willingness Remained Sluggish] SMM reported on April 14 that silver ingot transactions were sluggish, downstream buyers stayed on the sidelines, and the market continued to consolidate on a weak note.

8 hours ago