China’s New Tax Could Hurt Ferrari, Aston Martin, and Rolls-Royce

China will impose an extra 10% tax on super cars and other luxury models costing 1.3 million yuan ($188,852) and above, in a bid to rein in lavish spending and to reduce emissions, the ministry of finance has said.

The new tax rate will potentially affect pricing for top of the range models from carmakers like BMW, Daimler AG’s Mercedes-Benz and Audi AG, as well as super high-end brands like Ferrari, Aston Martin and Rolls-Royce.

Carmakers played down the impact, saying the tax hike would...

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