China relaxed car loan policies, enabling lenders to set individual loan ratios for gasoline, electric, and hybrid vehicles.
China eased car loan policies, allowing lending institutions to independently determine loan ratios for gasoline and electric passenger vehicles and hybrids. The previous blanket 85% ratio for EVs and hybrids and 80% for conventional cars has been removed. This move comes as China aims to boost its automotive sector, particularly electric vehicles, amid weakening consumer sentiment.
April 03, 2024
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