Chinese truck market is the largest in the world which had perceived a brisk growth till 2010. However market start to slow down in 2011 and to cope with this the Chinese government introduced stimulus plans called ‘cash-for-clunkers’ scheme. The scheme granted fleet owners RMB18, 000 if they replace their heavy duty trucks between 10-15 years old. According to ACG, the scheme had limited long term impact.
Source: Autobei
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