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German luxury automaker BMW has agreed to pay 5.1 billion yuan (US$820 million) in subsidies1 to its dealers2 in China, according to BMW's main Chinese dealership3 group.
The agreement ends months of disagreement over who should bear the brunt of a significant market slowdown in China last year.
Other foreign automakers have also been negotiating subsidies with their dealers in China.
China's automobile4 sector’s growth rate halved5 last year, leading to oversupply6 and large losses for many dealers.
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1 subsidies | |
n.补贴,津贴,补助金( subsidy的名词复数 ) | |
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2 dealers | |
n.商人( dealer的名词复数 );贩毒者;毒品贩子;发牌者 | |
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3 dealership | |
n.商品特许经销处 | |
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4 automobile | |
n.汽车,机动车 | |
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5 halved | |
v.把…分成两半( halve的过去式和过去分词 );把…减半;对分;平摊 | |
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6 oversupply | |
n.供应过量;v.过度供给 | |
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