Shenzhen issues measures to boost automobile consumption

Shanghai (Gasgoo)-South China's metropolis of Shenzhen has released a slew of measures to spur automobile sales, according to a governmental document posted on the official website of Shenzhen's municipal government.

The document was jointly issued on May 23 by such governmental departments as the Development and Reform Commission of Shenzhen Municipality, the Commerce Bureau of Shenzhen Municipality, the Industry and Information Technology Bureau of Shenzhen Municipality, and the Transportation Bureau of Shenzhen Municipality.

BYD Han EV; photo credit: BYD

Under the document, private consumers will be granted subsidies worth no more than 10,000 yuan ($1,500) per car if they purchase new energy vehicles (NEVs) eligible for the incentive policy and get their vehicles registered in Shenzhen.

Local authorities have decided to raise the city's regular car license quotas by 20,000, and those who take part in 60 and more rounds of the lottery but still fail to obtain a license will be given priority in receiving these quotas.

Notably, those who obtain the newly-added quotas and choose to buy NEVs will be offered subsidies of up to 20,000 yuan ($2,990) per car.

The restrictions on applying for license plates of hybrid electric cars will be relaxed. The document says private consumers who have already had one vehicle registered in Shenzhen are also allowed to buy a hybrid electric car and apply for a corresponding license plate.

Encouraging tourism and passenger vehicles to use new energy or clean energy is also one of the key measures. Companies and self-employed traders who purchase eligible new energy or clean energy vehicles for passenger transport use will receive subsidies of up to 50,000 yuan ($7,480) each vehicle.