China Offers $6,300 Subsidy to Hybrid Car Buyers
SHANGHA - China will give 43,000 yuan ($6,300) in subsidies to buyers of hybrid car buyers in the southwestern city of Chongqing, the first state initiative for private cars, the Shanghai Securities News said on Friday.
The subsidy, from the local government, will be given for the Jiexun brand hybrid sedan made by Chongqing Changan Automobile Co (000625.SZ), the newspaper said.
According to Reuters calculations, the subsidy, including exemption on 7,000 yuan of road fees for three years, is equivalent to a 31 percent discount for the hybrid sedan.
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