Autonomous Vehicle News
Guangzhou Automobile Group, the Chinese partner of both Honda and Toyota, has also offered subsidies running from March 15 to March 31. Chinese passenger vehicle sales fell 20 percent in January-February, industry data showed, even as some manufacturers offered reduced prices to stimulate demand. Sales of new-energy vehicles, which include full-electric and plug-in hybrid vehicles, grew faster than the overall market, accounting for over 30 percent in February. The price war is likely to accelerate consolidation of the fragmented local auto industry which has over 130 passenger car manufacturers, state-owned newspaper Economic Daily said in a commentary on Friday. Local governments have been supplementing incentives to revive demand for cars produced by local automakers.