Chinese Governments Roll Out Incentives for Car Buyers
Multiple Chinese cities rolled out policies to boost vehicle purchases after car sales slumped at the start of this year.
From Jan. 1 to Feb. 19, China’s passenger car sales fell 26% from the same period last year, according to data released Wednesday by the China Passenger Car Association (CPCA). Sales of passenger new-energy vehicles (NEVs) increased 9% to 546,000, meaning sales of fossil-fuel passenger cars declined more than 30% during the period. NEVs include purely battery-powered cars and electric-gasoline hybrids.
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