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CCTV News:On August 16, the Ministry of Commerce and seven other departments issued a notice on further improving the work of car trade-in, officially launching a new round of car trade-in, raising the subsidy standard for scrapping and renewal, and increasing central financial support. What are the benefits of the policy, and how can it drive green consumption? Let's see what the reporter observed.

The maximum subsidy can reach 20,000 yuan to further release domestic consumption demand

CCTV reporter Cui Jingzhe introduced that China has recently significantly increased the subsidies for scrapping and replacing cars. For eligible scrapped cars, the subsidy standard for purchasing new energy passenger cars has been increased from the previous subsidy of 10,000 yuan to 20,000 yuan; the subsidy for purchasing fuel passenger cars has been increased from 7,000 yuan to 15,000 yuan, both of which have doubled or more.

The efforts to replace old cars with new ones are increasing, targeting the issue of domestic demand.

Xu Haidong, deputy chief engineer of the China Association of Automobile Manufacturers, said that domestic automobile consumption has not actually increased significantly in recent years. Therefore, in this case, the old-for-new policy is more to stimulate domestic automobile consumption. Since 2018, the range and energy consumption indicators of some new energy vehicles have reached a relatively good level. From the national level, it is encouraged to scrap new energy vehicles before 2018 in advance and replace them with better new energy vehicles.

At the same time, the old-for-new policy limits the conditions for individuals to scrap passenger cars to fuel vehicles with National III emission standards or below and new energy vehicles registered before April 30, 2018. The vehicles that can be purchased and enjoy subsidies are limited to new energy vehicles included in the relevant catalogue and fuel vehicles with a displacement of 2.0 liters or less. The orientation of promoting green consumption is very obvious.

Car companies and dealers launch more preferential measures

The reporter saw that with the policy support, foreign-funded joint venture automakers took advantage of the situation to launch preferential measures and showed a high level of participation overall.

The market share of new energy vehicles is expected to continue to increase

One major background that cannot be ignored in the car trade-in is that China's electric vehicle production and sales have ranked first in the world for the past nine consecutive years. The "Opinions on Accelerating the Comprehensive Green Transformation of Economic and Social Development" issued by the CPC Central Committee and the State Council proposed that by 2035, new energy vehicles will become the mainstream of new sales vehicles.

Xu Haidong, deputy chief engineer of the China Association of Automobile Manufacturers, said that the consumption of new energy vehicles has maintained a very fast growth rate. Last year (market share) exceeded 30%. This year, it is estimated that the penetration rate of new energy vehicles for the whole year should reach 40%. In July, the market share of new energy vehicles has reached 50%. The policy of replacing old vehicles with new ones may be more conducive to consumers to replace new energy vehicles.

Source: CCTV.com