It is reported that the Chinese central government will offer subsidies for purchases of 49 auto models, 15 of which are produced by SAIC Group, reports Oriental Morning Post. The policy benefits 10 other car makers, and customers who take advantage of the policy can receive a subsidy of CNY 3,000 per vehicle.
The 49 models were selected because their fuel consumption volume per 100 kilometers was below 6.3 liters. The other 90 percent of cars produced in mainland China fail to meet the new fuel economy standards. Of the 49 models, 22 are brands owned by their manufacturers.
While releasing the new list, the government has stipulated that the auto manufactures that gain from the subsidy scheme must ensure the supply of the vehicles and cannot stop production of the selected vehicles within six months.
The project began last June, when the government allocated CNY 12 billion for it. The old subsidy threshold also measured in terms of fuel consumption per 100 kilometers was slightly higher at 6.9 liters. The subsidy awarded per purchase was also CNY 3,000.
