German luxury carmakers' profits seen hit by new tax


By Nick Tattersall FRANKFURT, Nov 25 (Reuters) - German luxury carmakers BMW and Mercedes could see as much as four percent lopped of their profits next year if the government goes ahead with a proposal to raise taxes on company cars, industry experts said on Monday. In a bid to curb a gaping budget deficit, Germany's centre-left government has announced plans for a number of tax hikes since it won re-election in September, incurring the wrath of business leaders already struggling in a ...

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