BEIJING (Reuters) – China’s city of Shanghai on Friday issued fresh measures to boost auto sales, offering subsidies for trade-ins, according to a municipal statement.
The city will provide a 15,000 yuan ($2,106.45) one-time purchase subsidy for qualified individual buyers of new all-electric vehicles priced above 50,000 yuan from Nov.1 to Dec.31.
Buyers of new fuel efficient gasoline cars will receive 12,000 yuan subsidy for the same period.
The subsidies will apply to those who trade in old cars not registered in Shanghai.
($1 = 7.1210 Chinese yuan renminbi)
(Reporting by Ethan Wang, Qiaoyi Li and Liz Lee; editing by Jason Neely)
