German premium carmaker BMW has agreed to pay 5.1 billion yuan ($820 million) of subsidies to its dealers in China, ending months of bickering over who should bear the brunt of a market slowdown in the country last year.Song Tao, deputy secretary general of the China Automobile Dealers Association (CADA), which had represented the dealers in the negotiations said, "This is the biggest such subsidy we've had in China... because last year, dealers had the highest level of stockpile.

Video: BMW Agrees to Pay $820 Million Subsidies to China Dealers

German premium carmaker BMW has agreed to pay 5.1 billion yuan ($820 million) of subsidies to its dealers in China, ending months of bickering over who should bear the brunt of a market slowdown in the country last year.Song Tao, deputy secretary general of the China Automobile Dealers Association (CADA), which had represented the dealers in the negotiations said, “This is the biggest such subsidy we’ve had in China… because last year, dealers had the highest level of stockpile.

View original post here:
Video: BMW Agrees to Pay $820 Million Subsidies to China Dealers

Check Also

dads and grads with mario armstrong

Dads and Grads Tech Gifts with Mario Armstrong

We’re already in graduation season and Father’s Day is quickly approaching. That means everyone’s looking …

AT&T urged to cut Huawei ties by US officials over national security: report

AT&T is being pressured to cut commercial ties with Chinese company Huawei, according to sources who say US lawmakers are behind the issue.

Leave a Reply

Your email address will not be published. Required fields are marked *