Automakers in China roll-out longer-term financing plans to spur demand
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Automakers in China are extending car loan repayment terms to up to eight years to stimulate demand amid stagnant sales. Brands like Nissan, Xpeng, and Geely are offering low-interest financing plans, with Nissan's plan requiring zero down payment and daily repayments as low as 27 yuan. This move follows Tesla's introduction of a seven-year plan. The Chinese auto market is facing challenges, with expectations of its worst year since 2020 due to reduced government subsidies for budget vehicles.
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