Car sales decline 30 percent in Macau

Car sales saw a 30 percent decline in the first two months of 2016. Macau Daily News reported Patrick Tse as saying that this reflects the economic slow-down.
Tse, who is president of the Macau Motor Traders Association, said that the new car tax policies encouraged customers to buy vehicles before the implementation of the new regulations at the end of last year, and now the stagnation of the economy has deterred people from buying cars.
During January and February, car dealerships came up with various promotional campaigns, but the increase in the volume of sales remained in the single digits.
Initial reports show that car taxation affects mostly the sales of cars with prices over MOP500,000, and that for cars worth less than MOP200,000 the actual influence of taxes is relatively small.