Chinese incentive schemes will continue also in 2010
By Andrew C., 30 Aug, 2010. 0 Comments
With all the attention that the car market in China has been getting from major automakers lately, it may cross your mind that China can‚Äôt possibly continue to bring in further sales. Fortunately for the car industry, this is far from reality as a senior official from China‚ ministry of commerce has confirmed that there still is plenty of room to promote car sales further in 2010.
According to a Reuters report, Chang Xiaocun, a bureau director at the ministry, cited schemes to trade in old vehicles for new ones at a discount, subsidized car sales in rural areas and tax breaks for smaller cars. At a news conference, Chang had said that trading in of old vehicles for new ones will be “a long-term strategic task” that will expand production as well as help conserve energy and create new jobs. The report pointed to the existing incentives as fueling an explosive growth in car sales this year.. Passenger cars sales in October surged 75.8% from a year earlier to 946,400.
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