Friday, January 16, 2009
China boosts car industry
Measures to incentivise motorists to buy more fuel-efficient cars have been announced by the Chinese government.
It will halve the tax on cars with engines up to 1.6-litre to 5% and put aside £500m to encourage rural consumers to part-exchange their old cars for newer low emissions models.
It will also provide £1bn for the largely state-run Chinese car industry for development of alternative fuel vehicles in the next three years.
Hit by the global downturn, China's car sales have slowed to a forecast 5% growth this year, the lowest for a decade. Its government wants to boost this to at least 10%.
DATED: 16.01.09
FEED: AM
It will halve the tax on cars with engines up to 1.6-litre to 5% and put aside £500m to encourage rural consumers to part-exchange their old cars for newer low emissions models.
It will also provide £1bn for the largely state-run Chinese car industry for development of alternative fuel vehicles in the next three years.
Hit by the global downturn, China's car sales have slowed to a forecast 5% growth this year, the lowest for a decade. Its government wants to boost this to at least 10%.
DATED: 16.01.09
FEED: AM
