China extends rural vehicle subsidy

The Chinese government has announced that it will extend the vehicle replacement subsidy program for rural areas throughout 2010 as it seeks to maintain the growth momentum in the vehicle market. According to the revised Detailed Operational Rules for Automobile and Motorcycle Rural Area Subsidy Program, the replacement subsidy will now continue to apply to passenger cars and commercial vehicles (CVs) until December 31, 2010 and to motorcycles until January 31, 2013. (January 27, 2010)