--FILE--People look at a Toyota Land Cruiser Prado at the stand of Toyota during the 15th China (Guangzhou) International Automobile Exhibition, also known as Auto Guangzhou 2017, in Guangzhou city, south China's Guangdong province, 18 November 2017. Toyota Motor Corp. will cut prices of its Lexus cars in China after the world's largest auto market cut its vehicle import tariffs to 15 percent from 25 percent. The Japanese carmaker will determine the exact discounts by the end of May, Kyodo News Service reported. Compatriot manufacturer Subaru Corp., which does not make cars in China, and other Japanese firms have also embraced the tariff cut, the report added. China's Ministry of Finance announced yesterday that it would reduce import tariffs on complete cars and parts starting from July 1 this year, with rates on components falling to 6 percent from between 8 and 25 percent. Tesla is also planning price cuts, and the China units of BMW AG, Audi AG and Volvo Group told Yicai Global they welcome the change and are evaluating their prices. (Imaginechina via AP Images)

Use Information This content is intended for editorial use only.
For other uses, additional clearances may be required.

Use information: No Use in France

Contributor: Contributor

November 18, 2017 09:29:43 AM
May 24, 2018 04:58:16 AM
ICHPL Imaginechina
Stringer - Imaginechina
For editorial use only. Please contact your AP representative for commercial use. China OUT; France OUT ; IC-URN:pbu714227_01
7952 x 5304 15.09 MB
Trade barriers, Trade policy, International trade, Economy, Business, Trade policy, Economic policy, Economic policy, Government business and finance, Government business and finance, Government and politics, Economic policy, Government policy, Automobile manufacturing, Consumer product manufacturing, Consumer products and services
China, Chinese, Toyota, Motor, auto, market, vehicle, import, tariff, China, Toyota, auto, market, vehicle, import
Chen Qi

This content is intended for editorial use only. For other uses, additional clearances may be required.


Message Box