Qingdao's commerce bureau has announced a 250 million yuan subsidy quota for November auto trade-in programs (both scrappage renewal and trade-in replacement), allocated on a first-come, first-served basis, Cailian Press reported on November 3.
In a separate development, several domestic automakers recently traveled to Beijing to negotiate with relevant authorities over hybrid-vehicle export allocations, following the China-EU understanding on hybrid trade reached at the Beijing trade-investment consultation in early October. One insider noted the total quota is limited and each carmaker is racing to secure a share. Cailian commented that shifting trade thresholds are objectively accelerating Chinese carmakers' local manufacturing push in Europe.
Also reported: Tesla's global vice president Tao Lin visited Wuxi on November 1 to deepen cooperation around "three-new" consumption and smart driving; and Changan Automobile disclosed October sales of 233,800 units, with overseas sales of 102,400 up 77.3% and NEV sales of 140,500 up 18% year on year.
Source: Cailian Press
