China Car Trade-In Subsidy Halted in Some Areas as Funds Run Low
China's trade-in subsidy to boost sales of electric and fuel-efficient vehicles has been suspended in key cities across at least six provinces as funds run short and officials scrutinize the prevalence of 'zero-mileage' used cars.
Cities in provinces including Guangdong, Henan and Zhejiang have suspended the program, which gives consumers up to 20,000 yuan ($2,780) toward the purchase of a newer model car and had been scheduled to run until the end of this year, according to reports from local media including Dahe Daily.
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