China to provide cash to car buyers to revive automobile market
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The automobile market has taken a huge blow due to the COVID-19 pandemic. China has sold 3.7 million new cars this year, while normally the number is more than 6 million. The car sales have dipped by 42% and the economy is also facing turmoil due to that. While the economy is struggling to get back to normalcy, China is handing out cash and hoping that drivers would return to the roads and the car market will be up again.