Auto tariff cut to fuel sales of SUVs, new energy cars

China's plans to slash its automobile import tariffs are expected to fuel sales of premium SUVs and new energy cars, which are already riding high in the country.

The tariffs, which now range from 20 to 25 percent, will fall to 15 percent starting from July 1, said the Ministry of Finance on Tuesday.

Tesla cut the prices of its models sold in China on the same day the policy was announced.