China adds tax on super luxury cars

China has imposed an additional 10 percent tax on imported luxury cars, such as Bentley, Ferrari and Lamborghini. The extra charge is also likely to hit high-end vehicles such as Mercedes and BMW. China already taxes imported vehicles at a high rate, adding on a 25 percent tax on all foreign cars shipped to China. The new tax came into effect on Thursday in effort to promote energy-efficient vehicles, according to China's finance ministry. Luxury carmakers have seen massive growth in China, which is the world's largest auto market.