{"id":26252,"date":"2017-04-07T07:29:13","date_gmt":"2017-04-07T07:29:13","guid":{"rendered":"http:\/\/www.biphoo.com\/bipnews\/?p=26252"},"modified":"2017-04-07T07:29:13","modified_gmt":"2017-04-07T07:29:13","slug":"gm-china-vehicle-sales-fall-first-quarter-tax-cut-rolled-back","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/business\/gm-china-vehicle-sales-fall-first-quarter-tax-cut-rolled-back.html","title":{"rendered":"GM China vehicle sales fall in first quarter as tax cut rolled back"},"content":{"rendered":"<h2 style=\"text-align: justify;\">\n\t<span style=\"font-size:22px;\"><strong><span style=\"color:#000000;\"><span style=\"font-family:arial,helvetica,sans-serif;\">GM China vehicle sales fall in first quarter as tax cut rolled back<\/span><\/span><\/strong><\/span><br \/>\n<\/h2>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">GM China vehicle sales fall in first quarter as tax cut rolled back:- U.S. automaker General Motors Co (GM.N) said on Friday its first quarter sales in China fell 5.2 percent compared to the same period a year ago due to a shift in the government&#39;s tax policy and Lunar New Year fluctuations.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">The decline comes despite a 16 percent year-on-year increase in China sales in March.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Demand for cars in China, the world&#39;s largest auto market, got a shot in the arm in 2016 as people rushed to buy before the planned expiration of a tax cut on vehicles with engines of 1.6 liters or below.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">That year-end spike could depress auto sales in 2017, GM&#39;s China joint venture partner SAIC Motor Corp (600104.SS) said earlier this weak.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">The purchase tax on small-engine vehicles rose to 7.5 percent this year from 5 percent last year, after the government revised its outright expiry at the end of 2016. The tax will return to the normal level of 10 percent in 2018.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">A GM spokeswoman also cited the earlier Chinese Lunar New Year holiday, which fluctuates between January and February each year, for the drop.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Separately, Nissan Motor Co (7201.T) said on Friday its China sales rose 5.3 percent for the first quarter.<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size:18px;\"><span style=\"font-family:arial,helvetica,sans-serif;\">That came a day after Toyota Motor Corp (7203.T) reported a 1.7 percent rise in China sales for the first three months of 2017, and a double-digit increase for Honda Motor Co (7267.T).<\/span><\/span><\/span>\n<\/p>\n<p style=\"text-align: justify;\">\n\t<span style=\"font-size:8px;\"><span style=\"color:#000000;\"><span style=\"font-family:arial,helvetica,sans-serif;\">Source:-&nbsp;http:\/\/www.reuters.com\/article\/us-gm-china-idUSKBN1790S8?il=0<\/span><\/span><\/span><\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/business\/gm-china-vehicle-sales-fall-first-quarter-tax-cut-rolled-back.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>GM China vehicle sales fall in first quarter as tax cut rolled back GM China vehicle sales fall in first quarter as tax cut rolled back:- U.S. automaker General Motors Co (GM.N) said on Friday its first quarter sales in China fell 5.2 percent compared to the same period a [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":26253,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[14491,16467,14874,13030],"class_list":["post-26252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business-news-headlines","tag-gm-china-vehicle-sales-fall-in-first-quarter-as-tax-cut-rolled-back","tag-latest-business-news-today","tag-latest-news-online"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/26252","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/comments?post=26252"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/26252\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media\/26253"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=26252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=26252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=26252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}