Thanks to Govt Supports, CV Expected to Recover
26 May 2009
On May 19, 2009, the state council, China’s cabinet rolled out new policies to encourage replacement of old vehicles and electrical appliances. Medium-, light-duty or mini cargo trucks and some medium-sized buses are expected to enjoy higher amount of government subsidies.
Thanks to the “Vehicle Going to Countryside” policy, the sales volume of light-duty trucks witnessed some increase in the first quarter. However, the commercial vehicle market, on the whole, delivered a fairly poor performance.
In order to pump more vitality into the anemic sector, the government is now planning to offer more financial supports to owners and operators of commercial vehicles by giving RMB 4 billion more (about USD 586.227 million) in subsidies and each vehicle is entitled to enjoy subsidies amounting to 10% of its price tag. It is believed that the sales volume of commercial vehicle will rise in the latter half of this year. As to scale of the increase, it is yet to be seen.
Source : english.chinabuses.com
Editor : Mark
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