Group 1 - The core viewpoint is that the import car market in China continues to shrink, with a significant decline in both import volume and sales of passenger vehicles in the first half of the year [1][2] - In the first half of the year, cumulative imports of passenger cars reached 221,000 units, a year-on-year decrease of 32.1%, while cumulative sales were 277,000 units, down 14.5% [1] - The decline is attributed to the rising competitiveness of domestic new energy vehicles and accelerated localization of imported cars, leading to weakened expectations among import car manufacturers [1] Group 2 - The sales structure shows that all three major vehicle categories—sedans, SUVs, and MPVs—experienced double-digit declines, with MPVs facing the largest drop [1] - In terms of vehicle classification, mid-to-large cars continue to dominate the import car market, maintaining a share of over 60%, with a 3.3 percentage point increase in share for mid-to-large cars in the first half of 2024 [1] - Luxury brands remain the absolute sales leaders, accounting for 91% of total sales, despite a year-on-year decline across non-luxury, luxury, and ultra-luxury segments [2] Group 3 - The top three sales regions are Guangdong, Jiangsu, and Zhejiang, all showing year-on-year declines in sales, with Zhejiang experiencing the largest drop of 19.2% [2] - Guangdong's sales decline was the smallest at 3.1%, supported by growth in models like Lexus RX and ES, while sales of models such as Audi A5 and BMW 6 Series contributed to the decline in Zhejiang [2]

Group 1 - The new luxury car consumption tax policy has lowered the threshold from a retail price of 1.3 million yuan to 900,000 yuan, affecting various luxury car models including Porsche, Mercedes-Benz, and BMW [3][11][12] - Following the announcement of the new tax policy, there was a significant increase in inquiries and sales for luxury second-hand cars, with a reported 50% increase in consultations and a 30% rise in transaction volume [3][5] - Luxury brands are responding to the new tax by offering limited-time tax subsidies to encourage purchases, with brands like Jaguar Land Rover and Mercedes-Benz announcing full tax coverage for specific models [4][5] Group 2 - The second-hand luxury car market is experiencing a price increase, with some models seeing a rise of 50,000 to 90,000 yuan due to the new tax policy, making them more attractive as they are exempt from the new consumption tax [8][9] - The introduction of the new tax has led to a shift in consumer focus towards second-hand luxury cars, as buyers seek to avoid the additional costs associated with new luxury vehicles [7][10] - The new policy has also impacted the export of zero-kilometer luxury cars, increasing costs for foreign trade merchants and complicating the export process due to stricter regulations [9][10]

Core Viewpoint - The adjustment of the luxury car consumption tax policy in China aims to guide reasonable consumption and promote energy conservation and emission reduction, with the tax threshold lowered from 1.3 million yuan to 900,000 yuan [1][2][14]. Group 1: Policy Changes - The new tax threshold means that vehicles priced over 900,000 yuan (excluding VAT) will incur a 10% additional consumption tax, significantly impacting the pricing of many luxury models [2][3]. - The previous tax threshold was set at 1.3 million yuan (with an invoice price of 1.469 million yuan), while the new threshold is now 900,000 yuan (with an invoice price of 1.017 million yuan) [2][3]. Group 2: Market Impact - The policy change is expected to reshape the luxury car market, with many popular models now falling under the new tax regime, leading to increased costs for consumers [3][4]. - Sales of luxury cars have been declining, and the new tax policy is likely to exacerbate this trend, as consumer demand shifts towards more affordable and energy-efficient vehicles [6][14]. Group 3: Dealer Reactions - Some dealers, like those selling Porsche, reported a significant drop in sales, with monthly sales figures falling to single digits due to the lack of consumer interest [6]. - Conversely, other dealers, such as those selling Land Rover, experienced a surge in sales immediately following the announcement, with reports of thousands of units sold in just two days [7][9]. Group 4: Long-term Implications - The adjustment of the luxury car consumption tax is seen as the first step in a broader reform of China's automotive tax system, which may lead to a more comprehensive tax structure that includes electric and fuel cell vehicles in the future [14][15]. - The new policy is expected to increase the annual taxable sales of passenger vehicles by over 100,000 units, predominantly from fuel vehicles, while the market structure is gradually shifting towards electric vehicles [15].

Core Viewpoint - The new luxury car consumption tax policy, effective from July 20, reduces the tax threshold from 1.3 million yuan to 900,000 yuan, expanding the range of luxury vehicles subject to taxation, impacting brands like Mercedes-Benz, BMW, and Porsche, as well as some domestic electric luxury cars like the Yangwang U8 [1][2]. Group 1: Tax Policy Changes - The new tax policy includes a 10% consumption tax on luxury cars priced between 900,000 yuan and 1.3 million yuan, which previously were exempt from this tax [2]. - Vehicles with a retail price of 1,017,000 yuan or more (including a 13% VAT) will now incur additional taxes, resulting in a tax burden of 90,000 to 130,000 yuan for affected models [2]. Group 2: Market Response - Following the announcement, there has been a noticeable increase in foot traffic at luxury car dealerships, with many models like the BMW 7 Series and X7 selling out quickly [3]. - Brands such as Tesla have responded by lowering the starting price of the Model X to 899,000 yuan to avoid the tax threshold, while others like Jaguar Land Rover and Mercedes-Benz have introduced temporary subsidies to cover the new tax costs for consumers [4][5]. Group 3: Industry Insights - Industry experts support the tax adjustment, stating it reflects market changes and ensures tax stability without significantly increasing the tax base [3][5]. - The luxury car segment represents only about 0.1% of the overall car market, indicating that the tax changes will have minimal impact on average consumers [5].

Core Viewpoint - The new "luxury car tax" policy, effective from July 20, lowers the threshold for consumption tax to 900,000 yuan (excluding VAT), impacting the pricing of luxury vehicles in China [1][3]. Group 1: Policy Changes - The consumption tax for super luxury cars is now applicable to vehicles priced at 900,000 yuan and above, down from the previous threshold of 1.3 million yuan [3]. - The adjustment affects a range of vehicles, including various luxury brands and models, with the new taxable price range being 1,017,000 yuan to 1,469,000 yuan [3][4]. Group 2: Industry Response - Several luxury car manufacturers and dealers have implemented measures to mitigate the impact of the new tax, with Jaguar Land Rover announcing it will fully absorb the additional tax costs for purchases made between July 20 and July 31 [2][10]. - Other brands, such as Mercedes-Benz, are also offering limited-time pricing strategies to maintain sales momentum, ensuring that prices remain stable despite the tax changes [13]. Group 3: Market Impact - The luxury car market is expected to see a limited impact from the new tax, as the affected vehicle sales volume is relatively small, with only about 37,000 units projected for the first half of 2025 [4]. - The demand for imported luxury cars has been declining, with a reported 33% drop in imports from January to May 2025 compared to the previous year [14].

Group 1 - The core point of the article is the adjustment of the luxury car consumption tax in China, which lowers the threshold from 1.3 million yuan to 900,000 yuan, impacting various luxury car models [10][11][13] - The new tax policy allows dealers to absorb the luxury car tax for specific models, such as the Mercedes-Maybach S-Class and GLS SUV, until August 31, 2025 [1][11] - The adjustment is expected to affect approximately 20,000 new cars sold in the price range of 1.017 million to 1.469 million yuan, which represents about 1.4% of the total luxury car sales in China [11] Group 2 - The new luxury car consumption tax policy officially took effect on July 20, 2023, with Jaguar Land Rover announcing that it will cover the additional tax for certain models purchased during the transition period [13] - The affected luxury car models include those from brands like BMW, Mercedes-Benz, and Toyota, among others, indicating a broad impact across the luxury automotive market [11][13] - Industry experts view the tax adjustment as a reasonable measure, noting that ultra-luxury vehicles constitute only a small fraction of the overall automotive market, thus minimizing the impact on general consumers [13]

Core Viewpoint - The recent adjustment of the consumption tax threshold for super luxury cars from 1.3 million yuan to 900,000 yuan is expected to significantly impact the luxury car market, particularly affecting brands like Porsche and Mercedes-Benz that fall within the new tax range [1][3][18] Group 1: Policy Changes - The consumption tax threshold for super luxury cars has been lowered from a retail price of 1.3 million yuan (excluding VAT) to 900,000 yuan [1][4] - The new policy will take effect shortly after its announcement, leaving little time for car manufacturers to adapt [1][3] Group 2: Market Reactions - Consumers are reacting quickly to the policy change, with reports of increased sales activity in luxury car showrooms prior to the implementation date [8][9] - Brands like Porsche, Mercedes-Benz, and BMW are expected to be most affected, as many of their models now fall within the taxable range [6][11] Group 3: Competitive Landscape - The adjustment may intensify competition among luxury car manufacturers, as they may need to reconsider pricing strategies to maintain market share [11][18] - If luxury brands do not adjust prices, potential buyers may shift their interest towards second-hand vehicles or domestic luxury brands that are not affected by the new tax [13][15] Group 4: Impact on Different Segments - The policy change primarily impacts traditional fuel-powered luxury vehicles, while electric and fuel cell vehicles are less affected [12][18] - The adjustment could create opportunities for electric vehicles priced just below the new threshold, making them more attractive to consumers [16]

Core Viewpoint - The adjustment of the consumption tax policy for ultra-luxury cars in China has lowered the tax threshold from 1.3 million yuan to 900,000 yuan, effective from July 20, leading to significant price increases for certain luxury vehicles [1][5][4]. Group 1: Policy Changes - The new consumption tax policy now applies to ultra-luxury cars with a retail price of 900,000 yuan and above, including various power types [1][5]. - Previously, the threshold was set at 1.3 million yuan, indicating a substantial shift in the tax base [4][5]. - The new regulation is expected to create a price difference of approximately 10% for consumers purchasing vehicles just before the policy takes effect [5][6]. Group 2: Market Impact - Sales personnel from luxury car brands reported a surge in inquiries and purchases just before the policy change, indicating consumer urgency to avoid the new tax [5][6]. - Jaguar Land Rover has announced a temporary policy to absorb the additional tax costs for certain models until July 31, 2023, which may influence consumer purchasing decisions [6][19]. - The majority of affected vehicles fall within the price range of 1.017 million to 1.469 million yuan, with an estimated 20,000 units sold in the first half of the year, representing a small fraction of the overall luxury car market [19][22]. Group 3: Consumer Behavior - Consumers are encouraged to consider purchasing models priced below the new tax threshold to avoid additional costs, as demonstrated by sales personnel calculations [11][12]. - The price difference between models just below and above the threshold can lead to significant savings, prompting consumers to act quickly [11][12]. - The luxury car market is expected to see a shift in consumer preferences towards older models or those priced below the new tax threshold [11][12]. Group 4: Industry Expert Opinions - Industry experts suggest that the adjustment of the consumption tax threshold is a reasonable response to market conditions, as ultra-luxury vehicles represent a very small segment of the overall automotive market [22][23]. - The new tax policy is seen as a way to ensure tax compliance and stability in the market, emphasizing the importance of legitimate operations by dealers [22][23].

Core Viewpoint - The new luxury car consumption tax policy, effective from July 20, 2025, lowers the tax threshold from 1.3 million yuan to 900,000 yuan, significantly impacting the sales of high-end brands like Porsche and Mercedes-Benz, which are expected to see increased consumer activity in the days leading up to the policy implementation [5][10][14]. Summary by Sections Tax Policy Changes - The new regulation expands the scope of luxury car consumption tax to include vehicles priced at 900,000 yuan (excluding VAT) and above, affecting various power types including electric and fuel cell vehicles [5][6]. - The previous tax threshold was set at 1.3 million yuan, meaning that new cars priced between 1.017 million yuan and 1.469 million yuan will now be subject to this tax [6][10]. Market Response - Porsche has experienced a surge in sales, with reports of selling seven cars in a single day as consumers rush to take advantage of the tax exemption before the new rules take effect [2][8]. - Sales representatives from Porsche noted that popular models like the 911 and Panamera are in high demand, with limited stock available [8][10]. Impact on Other Brands - Other luxury brands such as Mercedes-Benz and BMW will also be affected, with specific models like the S-Class and GLS falling under the new tax regulations [12]. - The luxury car market is expected to see a shift, with brands like Toyota's Alphard and Land Rover's Range Rover also impacted by the new tax policy [13]. Market Trends - The luxury car market has been facing challenges, with Porsche's sales in China dropping by 28% in 2024, and Mercedes-Benz experiencing a 7% decline in the same market [14][15]. - The new tax policy is seen as a response to the declining sales in the luxury segment, potentially leading to a further contraction in this market [15][16]. Future Outlook - The adjustment in tax policy may benefit domestic high-end brands, as the demand for imported luxury vehicles continues to decline [17]. - The overall luxury car market is anticipated to undergo significant changes as a result of this new tax regulation, potentially reshaping consumer preferences and brand strategies [18].

Core Viewpoint - The new luxury car consumption tax policy in China lowers the threshold for taxation from 1.3 million yuan to 900,000 yuan, effective from July 20, 2025, impacting a wider range of vehicles, particularly affecting brands like Porsche and Mercedes-Benz [2][4][7]. Group 1: Tax Policy Changes - The new regulation expands the scope of luxury car consumption tax to include passenger cars and light commercial vehicles with a retail price of 900,000 yuan and above, excluding VAT [2][4]. - The previous tax threshold was set at 1.3 million yuan, meaning that vehicles priced between 1.017 million yuan and 1.469 million yuan will now be subject to the tax [4][7]. Group 2: Impact on Luxury Car Brands - Porsche is significantly affected by the new tax policy, with models like the 911, Panamera, Taycan, and high-end Cayenne now falling within the taxable range, leading to increased customer traffic and sales inquiries [5][7]. - Other brands such as Mercedes-Benz and BMW will also see some of their models, including the S-Class and GLS, impacted by the new tax regulations [8][9]. - The new tax policy is expected to drive consumers to make purchases before the tax takes effect, as buying before July 20 allows them to save tens of thousands of yuan [7]. Group 3: Market Dynamics - The luxury car market is experiencing a surge in demand, particularly for models that fall under the new tax threshold, while ultra-luxury brands like Maserati are struggling with declining sales and are resorting to significant discounts to clear inventory [11][20]. - In contrast, domestic luxury electric vehicles are gaining popularity, with brands like BYD and their models such as the Yangwang U8 and Zun Jie S800 seeing strong sales performance [25][31]. - The shift in consumer preferences towards domestic luxury vehicles indicates a changing landscape in the high-end automotive market, with more brands targeting the million-yuan price segment [31].