China: Government spends Yuan 6.41bn in auto subsidies

According to China's ministry of Commerce, the government handed out Yuan 6.41bn (US$967.75m) in subsidies to buyers of new cars under the automotive trade-in programme in 2010. Xinhua, citing a ministry statement, said the government subsidised sales of 459,000 vehicles under this programme last year. This resulted in sales revenues of Subscribe to Automotive World … Continued

• By Webmaster
• January 6, 2011