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CHINA CALLS FOR PURCHASE TAX CUT ON MOTORCYCLES TO UP SALES.
BEIJING, Jan 1 Asia Pulse - Many Chinese motorcycle manufacturers and industrial guilds have put forward suggestions for cut purchase tax on the motorcycle purchase tax for boosting market sales.
They called for including the purchase tax cut into the pending auto industry development plan.
The still young motorcycle industry in China was hard hit by the global financial crisis. There were 36 motorcycle enterprises suffering losses in the first three quarters of 2008, accounting for 31.86 per cent of China's total, according to statistics on 113 motorcycle enterprises by China Association of Automobile Manufacturers (CAAM).
China's motorcycle export reached 524,600 units in November of 2008, down 149,200 units from the previous month and 215,200 units from a year earlier.
In the first 11 months, motorcycle export value totaled US$4.72 billion, with the growth rate down 5.91 percentage points from that in the first ten months, according to another CAAM statistics on 94 motorcycle enterprises.
Wang Falin, deputy secretary general of China Chamber of Commerce for Motorcycle, attributed the motorcycle sales decline to the weakening foreign demand amid the financial crisis.
Zongshen ...
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