In Beijing there are plans to restrict vehicle purchase and registration from January 1. The restrictions are aimed at solving the crippling traffic congestion. The result has been a massive boom in sales.
Some buyers said they fear the current tax rebates and trade-in subsidies will be canceled when the new regulations come into force. Some are worried that residency restrictions might apply.
In contrast to previous months, when showrooms relied on discounts and promotions to lure in customers, demand surged in the first half of December, with sales of some models even doubling.
The English People’s Daily Online reported more than 20,000 vehicles were sold in the first week of December alone, more than twice the number during the same period last year.