China's scrappage incentive attracts 284,000 buyers
Some 284,000 vehicles sold in China in the first ten months of 2010 have qualified for the government's scrappage subsidies, reports China's Ministry of Commerce.
The ministry says it has spent 4 billion yuan ($597 million) on the program.
China launched its cash-for-clunkers program in June 2009. When consumers trade in their old cars or commercial vehicles, they are eligible for subsidies ranging from 5,000 to 18,000 yuan.
The program is due to expire at the end of this year.
