Wherever you are in the world, if they make cars locally there’s a fair bet that there’s a government bailout package in the air.
The US government’s agonising over what to do to help Detroit may have grabbed headlines, but there are emergency auto industry government-sponsored support packages being discussed in Europe (at EU and national government level), Russia, Thailand, Brazil, Argentina and India. Governments won’t stand idly by when there are important national economy issues at stake.
Now you can add China to the list.
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China is to propose its own bailout plan for the auto industry, according to the Beijing-based Chinese language Business Journal.
Details are sketchy but the plan reportedly contains six policy recommendations including jacking up domestic demand, expanding overseas markets, supporting homegrown brands, reforming fuel tax, boosting the second-hand vehicle market, and preventing policies and regulations that may hurt auto sales.
