BMW, Mercedes-Benz lower costs in China after VAT drop

BMW M550i at Detroit Auto Show

BMW AG and Mercedes-Benz stated on Saturday they are going to reduce their prices in China, following the government declaration it will decrease the country‚Äôs value-added tax (VAT) beginning on April 1. The German automakers each published posts on Chinese social media announcing immediate cost cuts for several models. The discounts come as China endures […]