Core Viewpoint - The recent adjustment of the luxury car tax in China has significantly impacted the high-end automobile market, with the threshold for tax applicability lowered from 1.3 million yuan to 900,000 yuan, affecting both traditional fuel vehicles and new energy vehicles [3][4][27]. Group 1: Tax Policy Changes - The new luxury car tax policy will take effect on July 20, lowering the retail price threshold for tax applicability from 1.3 million yuan to 900,000 yuan for various types of passenger cars and light commercial vehicles [3][4]. - The inclusion of new energy vehicles in the tax scope is a notable change, expanding the range of vehicles subject to the luxury car tax [4][27]. Group 2: Market Reactions - Following the announcement, there was a surge in consumer activity, with many rushing to dealerships to finalize purchases before the new tax took effect, leading to extended store hours and increased sales efforts [5][6][7]. - Some consumers who had already placed deposits on vehicles began to reconsider their purchases due to the unexpected tax increase, with reports of potential cancellations [10][13]. Group 3: Impact on Specific Brands - Brands such as Land Rover and Porsche are expected to be significantly affected, as many of their models now fall within the new tax range, leading to increased urgency among consumers to purchase before the tax implementation [9][21]. - The luxury car market is experiencing structural changes, with traditional fuel vehicles facing intensified competition from new energy models, further complicated by the new tax policy [5][27]. Group 4: Sales Data and Market Share - In the market segment affected by the new tax, Mercedes-Benz holds a 48% share, followed by Land Rover at 23% and Porsche at 18%, indicating a competitive landscape that may shift due to the tax changes [29][30]. - The sales figures for luxury vehicles show that models like the Range Rover and Porsche Cayenne are among the top sellers, highlighting the potential impact of the new tax on their sales dynamics [30]. Group 5: Future Market Dynamics - The adjustment of the luxury car tax is expected to alter the competitive landscape, potentially benefiting domestic luxury brands as they may find new opportunities in the market previously dominated by imported vehicles [34][35]. - The ongoing decline in imported vehicle sales suggests that domestic brands could capitalize on the new tax structure, appealing to consumers looking for alternatives in the luxury segment [34].

Core Viewpoint - The new luxury car tax policy in China, effective from July 20, 2023, lowers the threshold for luxury car taxation, impacting the sales dynamics of high-end automotive brands significantly [1][2][14]. Group 1: Tax Policy Changes - The luxury car tax threshold has been reduced from a retail price of 1.3 million yuan (excluding VAT) to 900,000 yuan, now including various types of vehicles, including electric and fuel cell cars [1][2]. - The new tax policy results in a new taxable price range for vehicles, with the inclusive tax price threshold dropping from 1.469 million yuan to 1.017 million yuan [2][14]. Group 2: Market Reactions - The announcement of the tax change led to a surge in sales as consumers rushed to purchase vehicles before the new tax took effect, with reports of extended store hours and high sales activity [3][11]. - Major luxury brands like Porsche, Land Rover, and Mercedes-Benz experienced significant consumer interest, with many buyers attempting to finalize purchases before the tax increase [3][5][11]. Group 3: Impact on Luxury Brands - The new tax policy is expected to affect the sales of high-end models from brands such as Porsche, Land Rover, Mercedes-Benz, BMW, Audi, and Lexus, with many models now falling under the new tax bracket [7][9][10]. - Brands like Porsche and Land Rover are particularly impacted, as a significant portion of their models exceed the new tax threshold [10][11]. Group 4: Consumer Behavior - Consumers who had already placed orders for vehicles are reconsidering their purchases due to the unexpected tax increase, with some contemplating canceling their orders [6][7]. - The market dynamics are shifting, with potential buyers now looking at alternative models that may fall below the new tax threshold, indicating a possible change in consumer preferences [17][18]. Group 5: Market Outlook - The adjustment in luxury car tax is seen as a response to the changing market conditions, where high-end car sales have been declining, and promotional pricing has increased [14][18]. - The new tax structure may provide opportunities for domestic luxury brands, as the lowered threshold could allow them to capture a larger market share previously dominated by imported luxury vehicles [18][19].

Core Viewpoint - The Ministry of Finance and the State Taxation Administration announced an adjustment to the consumption tax policy for ultra-luxury cars, lowering the threshold from 1.3 million yuan to 900,000 yuan (excluding VAT) for various types of passenger and light commercial vehicles [1][2]. Group 1: Policy Changes - The consumption tax threshold for ultra-luxury cars has been reduced from a retail price of 1.3 million yuan to 900,000 yuan, expanding the scope to include all types of powertrains, including pure electric and fuel cell vehicles [2][3]. - The new policy aims to reflect market changes and ensure tax stability, with experts suggesting that the adjustment is reasonable and aligns with market promotions [1][3]. Group 2: Market Impact - The ultra-luxury car market is relatively small, and the impact of the expanded tax range is expected to be minimal, as the price sensitivity to taxes in this segment is low [3]. - Sales data indicate that in the first half of 2025, 3,700 units of new cars priced at 900,000 yuan were sold, with only 214 being exempt electric models [3]. Group 3: Consumer Response - Consumers have responded positively to the policy change, with reports of increased interest in purchasing vehicles just above the new tax threshold [5][6]. - The policy also clarifies that no consumption tax will be levied on the sale of second-hand ultra-luxury cars, which is expected to stimulate the high-end used car market [6][7]. Group 4: Market Performance - Following the announcement, the automotive sector in the A-share market saw a rise, with stocks like Jianghuai Automobile and BYD experiencing gains [7].

完整早报音频，请点击标题下方小耳机收听 【传将分拆中国业务，英伟达：完全为假消息】 4月29日，海外社交网络平台传播英伟达打算在中国作为独立公司运 营，将通过与中国国内公司建立合资企业来实现业务分拆。英伟达官方回应表示，此传闻完全为假消息，相关说法没有 任何依据，而将毫无根据的主张和猜测作为事实发表是不负责任的。（界面新闻） 【宇树机器人秀马拉松：118分钟跑了13.2公里，中途换电一次】 4月28日下午，宇树科技直播了人形机器人G1长跑。工 作人员表示，G1最高速度可达3-3.5m/s，长跑2m/s。直播过程中，宇树工作人员提到"不知道大家那么喜爱长跑"，并表 示"格斗比赛正在准备"。此外，从直播来看，宇树机器人G1在稳定性、耐久性方面表现十分出色。仅在开跑后90分钟时 换过一次电池。全程118分钟，跑了40圈，共计13.2公里。（新浪科技） 保时捷中国还表示，一直在密切关注中国市场上涌现的这些优秀品牌，也会非常认真地研究他们的产品。"确实中 国造车企业取得了卓有成效的进展，但保时捷还是有自己无可取代的独特性，保时捷依然是保时捷。"（中新经 纬） 关注AIGC等热门垂直赛道，扫码可订阅产业日报 【东风有限回 ...