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China Tightens Small-Car Subsidies
- Only 26 small-car models will be eligible for a $470 government subsidy after Beijing imposed more stringent requirements to qualify for the fuel-efficiency bonus.
- The tighter standards are expected to trim growth this year in China’s auto industry.
- Shanghai General Motors has nine models eligible for the new subsidy, including the Chevrolet Sail and Chevrolet Aveo.
BEIJING — Only 26 small-car models will be eligible for a $470 government subsidy after Beijing imposed more stringent requirements to qualify for the fuel-efficiency bonus, according to the National Development and Reform Commission.
China introduced the subsidy program for energy-saving vehicles in 2010 to help boost demand, benefiting more than 340 variations of car models.
In September, the government announced it would impose a stricter standard for the subsidy to promote more fuel-efficient technologies and encourage restructuring among China’s automakers.
Now, the NDRC says 26 locally produced vehicles, including 49 variations, will be eligible for the 3,000-yuan subsidy — about $470.
Since the beginning of October, the new standard provides a subsidy to manufacturers for cars weighing 2,655-2,910 pounds, with fuel economy of at least 37 mpg, up from the previous 34-mpg threshold.
Considering the sharp fall in the number of models that benefit from the new subsidy compared with the previous scheme, an industry analyst estimated growth in the market would slow further in the rest of this year.
“China’s home-grown carmakers would be more affected as Chinese-branded vehicles are more competitive in the subcompact segment, which now has fewer models in the new standard,” said Cui Dongshu, vice secretary-general of the China Passenger Car Association.
Shanghai General Motors has nine models in the new subsidy, including the new Chevrolet Sail and Chevrolet Aveo. China-made cars such as BYD F3 and Changan Benben mini are also included in the subsidy.
Inside Line says: Look for Beijing to continue tweaking the rules to control demand for smaller cars.
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China Tightens Small-Car Subsidies
