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China: Chinese government mulls discarding old cars to support auto industry.
Section: Business News - According to Xinhua News Agency, the Chinese government is planning to offer incentives for car owners to scrap their old models in favor of new ones in a move to assist the auto industry as it enters a period of crisis. The measure is part of the Chinese government's new stimuli aimed at avoiding a collapse of their local auto sector similar to the woes in the US.
It has been reported that car sales in China fell 14.6% YoY in November. Other measures that the Chinese government may adopt to bolster car sales will include …
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