Lower subsidies raise green car prices

Source:Global Times Published: 2017/2/6 17:53:39

Prices for new energy vehicles increased in Shanghai over the Spring Festival holiday due to declining national subsidies, reported Laodong Daily.

According to a new policy, China's central government will slash subsidies for green vehicles by 20 percent this year. BYD 4S stores in Shanghai have already raised prices for the best-selling Qin and Tang by 5,000 yuan ($729). To promote sales, some new energy vehicle producers have raised subsidies themselves.

Stimulated by the new national subsidy policy and an expectation of higher prices, an increasing number of customers are visiting Shanghai car stores, but many local green car 4S stores have suspended sales and now only accept private advance bookings while waiting for a new local subsidy policy that will soon be released. Most car salesmen predict an increase of several thousand yuan starting March.

Posted in: PULSE

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