China ends vehicle sales subsidies

The Vancouver Sun, January 3, 2011

The Chinese government ended subsidies for vehicles sales in rural areas Jan. 1, just days after announcing a halt in incentives for buyers of small vehicles. The incentives being stopped in rural areas include those for small cars and trucks, the Ministry of Finance said in a statement on its website today. That will end a policy started in March 2009 to foster automobile demand at the height of the global recession.

China's vehicle sales may reach 20 million units in 2011, according to Bill Russo, a Beijing-based senior adviser at Booz & Co.

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