China has plenty of room to promote cars sales further in 2010, a senior ministry of commerce official said on Tuesday.
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Chang Xiaocun, a bureau director at the ministry, cited schemes to trade in old vehicles for new ones at a discount, subsidised car sales in rural areas and tax breaks for smaller cars, Reuters reported.
“Trading in old vehicles for new ones will be a long-term strategic task that will not only help expand consumption but will also help conserve energy and create new jobs,” Chang told a news conference.
The existing array of incentives has helped power explosive growth in car sales this year, the report noted. Passenger cars sales in October surged 75.8% from a year earlier to 946,400.
