China’s Car Price War Escalated with Subsidy Up to 100 million yuan in Chengdu

SHANGHAI, Mar 21 (SMM) - Starting from March 17, Chengdu launched the "production-sales linkage" car consumption activity in Longquanyi District, with a total subsidy of 100 million yuan and a maximum of 150,000 yuan in subsidies for each vehicle. This consumption promotion event will last until June 30, 2023, and the participating brand models cover pure electric, hybrid, and plug-in vehicles. Individual or corporate consumers that buy designated models from FAW-Volkswagen, FAW Toyota, Volvo, Shenlong Automobile, Dayun Automobile, Lynk & Co, Hongqi at the car dealers in Chengdu, and register the license plate within the specified time limit can obtain a one-time subsidy of 15,000-150,000 yuan for each vehicle, plus the subsidies offered by automakers.