Global automakers rally on China developments [Seeking Alpha]
Tata Motors Ltd Tata Motors Limited (TTM)
US:NYSE Investor Relations:
tatamotors.com/investor/volumes
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Source: Seeking Alpha
Global automakers rally on China developmentsAutomobile stocks are generally higher after China lowered its auto import tariff to 15% from 25%. The Finance Ministry also dropped the tariff on imported car parts to a standardized 6% across the board from an average of 10%.Analysts say that although the tariff rate drop is significant and could help bottom lines, it probably won't have amajor impact on where automakers actually assemble vehicles. The lower tariff on imported parts may make it more economical for global automakers to assemble in China and keep their partnerships with Chinese automakers - a major boost for the China automobile industry (OTC:CQCAF,OTCPK:GWLLF,OTCPK:GWLLY,OTCPK:GELYF,OTCPK:GELYY,OTCPK:BYDDY,OTCPK:BYDDF,OTCPK:DNFGY,OTCPK:DNFGF,OTCPK:DDAIF,OTCPK:GNZUF,OTCPK:GNZUY).Shares of Tata Motors closedup 3.8% in Bombay, while the U.S.-trade ADRs areup 3.3% in premarket trading. BMW is1.95% higher in Frankfurt, while Daimler (OTCPK:DDAIF) isup 1.55% and Volkswagen (OTCP
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