In what could be considered a blow to the auto industry, China will pay drivers of high-pollution vehicles in Beijing $3,600 to stay off the road.
But while citizens who trade in their cars will receive a reward, drivers who do not meet emissions standards will be fined 100 yuan (approx. US$12)— about 13% of the average Beijinger's income.
China is the second largest auto market in the world (behind the US), and sales have risen consistently in the double digits for the past decade. This past year, however, the country experienced only a 7.27% rise in sales.
Beijing's new reward may lower the number of drivers on the road even more. The new monetary incentive is predicted to take 10% of the city's 3.5 million cars off the road.
This isn't the first green auto initiative for Beijing— the city has already implemented a city-wide ban on cars one day a week based on license plate numbers.