Chinese gov't wants to consolidate major automakers to 10
The government's long term vision of the auto landscape in China would be three large automakers selling more than two million vehicles per year and at least four smaller groups selling above a million. To insure that they all have buyers, Chinese authorities will buy more Chinese cars, subsidize rural purchasers with 5 billion yuan ($732 million) in subsidies, offer rebates to those trading in used cars for new ones, eliminate road tolls and expand urban infrastructure. It's ambitious, for sure, but if the government can get the industry to go along, China certainly has the money to handle the rest.
[Source: Gasgoo, Photo by China Photos/Getty]
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