Shanghai (ZXZC)- German luxury carmakers Mercedes-Benz and BMW Group announced a new-round of price reduction on vehicles imported to China from the U.S. until March 31, 2019 after China suspended additional tariffs on cars and auto parts imported from the U.S..

ZXZC compiled the detailed price adjustment of Mercedes-Benz models as below. Prices of 6 models involved have been cut by from RMB28,000 to RMB135,000.

BMW also responded to the import tariff suspension policy. BMW China Automotive Trading Ltd. announced that suggested retail prices of the U.S.-made BMW X5, X6, X5M and X6M will be somewhat reduced from December 15 on to benefit consumers ahead of January 1, 2019 when the tariff suspension officially comes into effect.

Noticeably, the suggested retail price of the all-new BMW X5, which hit the market in early December, has been decreased by RMB30,000 to RMB779,900.

China's Ministry of Finance said in a statement that it will temporarily remove the additional 25% tariffs on $66 billion worth of vehicles and auto parts and additional 5% tariffs on $60 billion worth of cars and auto components imported from the U.S. for three months starting January 1, 2019.

Apart from Mercedes-Benz and BMW, Tesla also decided to slash prices on its Model S sedan, Model X SUV and Model sedan in China. The price of the Model S 100D has been even reduced by up to RMB105,000.