BMW, Mercedes-Benz lowers prices in China

Harold CUNNINGHAM / AFP

BMW and Mercedes-Benz have lowered their prices in China.

It comes after the country's government announced it will reduce value-added tax (VAT) from April 1.

The German car manufacturer published posts on Chinese social media announcing an immediate reduction in price for several models.

The BMW 3, BMW 5, BMW X5 and BMW 7 series will all be cheaper now as will the BMW 320Li M model.

More from Business

Coming Up on Dubai Eye

  • Nights on Dubai Eye 103.8

    11:00pm - 6:00am

    Dubai Eye complements the conversation with the music you love from the eighties, nineties and newer.

  • The Business Breakfast

    6:00am - 10:00am

    The Business Breakfast is the day’s must listen for the UAE’s business leaders, and those who aspire to be.

BUSINESS BREAKFAST LATEST

On Dubai Eye

  • Flying Taxis

    It sounds like an episode of The Jetsons, but the sight of flying taxis whizzing around our cities could be much closer than you think.

  • Tough penalties for deliberate tax evasion

    The UAE has said that tougher penalties will come into force from 1st August for not keeping proper corporate tax records.