Subsidies for car "trade-in" doubled, the Qilu International Auto Show is the right time to buy a car
2024-08-20
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Recently, in order to further improve the work of "trading old for new" and strive to stabilize and expand automobile consumption, the Ministry of Commerce and other 7 departments jointly issued the "Notice on Further Improving the Work of Trade-in for Old for New", which further increased the subsidies for "trading old for new". From September 5th to 9th, the 50th Qilu International Auto Show opened, and the large subsidy policy support will surely bring the best car buying opportunities in the second half of the year to consumers.
Jointly released by 7 departments
Car trade-in subsidies doubled
Compared with the first round of implementation details released in April this year, the subsidy amount has doubled this time. The notice mentioned that for individual consumers who scrap fuel passenger cars with national emission standards of III or below or new energy passenger cars registered before April 30, 2018 between April 24, 2024 (including that day, the same below) and December 31, 2024, and purchase new energy passenger cars or fuel passenger cars with a displacement of 2.0 liters or less included in the "Catalogue of New Energy Vehicle Models for Vehicle Purchase Tax Reduction and Exemption" of the Ministry of Industry and Information Technology, the subsidy standard will be adjusted.
Among them, for scrapping the above two types of old cars and purchasing new energy passenger cars, a subsidy of 20,000 yuan will be given (the subsidy before adjustment was 10,000 yuan); for scrapping fuel passenger cars with National III and below emission standards and purchasing fuel passenger cars with a displacement of 2.0 liters and below, a subsidy of 15,000 yuan will be given (the subsidy before adjustment was 7,000 yuan).
Not only has the subsidy standard been greatly increased, but previously issued subsidy applications can make up the difference according to the new standard. Eligible subsidy applications submitted between April 24, 2024 and January 10, 2025 (including applications that have completed subsidy issuance) will be subsidized according to the standards specified in this notice. Among them, for subsidy applications that have been issued according to the previous standards, the difference will be made up according to the standards specified in this notice.
In addition to scrapping and updating, this policy also includes replacement and updating in the subsidy scope. According to relevant requirements, the National Development and Reform Commission has arranged ultra-long-term special treasury bond funds to support local governments in improving the ability to replace old consumer goods with new ones, and promote the scrapping and updating of automobiles and the replacement and updating of individual consumer passenger cars. At the same time, this policy requires the optimization of the review and payment supervision process for scrapping and updating automobiles.
Favorable policies are frequently issued
Intensify efforts to stimulate automobile consumption
Since the beginning of this year, relevant national departments have introduced a number of favorable policies for car purchases. Promoting large-scale equipment renewal and consumer goods trade-in will benefit both the present and the long term, stabilize growth and promote transformation, benefit both enterprises and people's livelihood, and have overall strategic significance.
In March this year, the State Council issued the "Action Plan to Promote Large-Scale Equipment Updates and Consumer Goods Trade-in", which made comprehensive and systematic arrangements for the four major actions of equipment update, trade-in, recycling, and standard improvement.
On April 24, the Ministry of Commerce and seven other departments issued the "Implementation Rules for Car Trade-in Subsidies", which proposed that from the date of issuance to December 31 this year, individual consumers who scrap fuel passenger cars with National III or lower emission standards or new energy passenger cars registered before April 30, 2018, and purchase new passenger cars that meet energy-saving requirements, can enjoy a one-time fixed-rate subsidy.
On July 25, the National Development and Reform Commission and the Ministry of Finance issued "Several Measures on Further Supporting Large-Scale Equipment Updates and Trade-ins for Old Consumer Goods", coordinating the allocation of about 300 billion yuan of ultra-long-term special government bond funds to further support large-scale equipment updates and trade-ins for old consumer goods.
From the perspective of August, this series of measures has played a positive role in promoting the development of the automobile industry market and boosting automobile consumption. On August 15, the information disclosed at the 2024 National Ecological Day main event Ecological Civilization Important Achievements Conference showed that in the first half of this year, the retail sales of new energy passenger vehicles above the limit increased by 33.1%. As of the end of July, the number of applications for automobile scrapping and renewal subsidies nationwide exceeded 450,000, and the amount of scrapped automobiles recycled increased by 27.6% year-on-year.
Large subsidies meet Qilu Auto Show
The second half of the year is the right time to buy a car
At the time of the implementation of this major subsidy policy, the Qilu International Auto Show will also usher in its 50th grand ceremony at the Shandong International Convention and Exhibition Center from September 5 to 9. As we all know, every Qilu International Auto Show is a promotional event where major automobile manufacturers and dealers compete for sales and pass on benefits to consumers.
In such a severe situation of price involution in the automobile industry, in order to achieve sales targets, brand manufacturers and dealers can only take the lead in sales by offering genuine discounts. Sufficient discounts, subsidy policies and high-quality services are indispensable.
When large subsidies meet the Qilu International Auto Show, the price of cars will be "brought down". Consumers who have visited previous Qilu Auto Shows know that due to the large number of brands, exhibitors and fierce competition at the auto show, compared to running around to compare prices in various 4S stores, a visit to the auto show will definitely bring unexpected gains and make consumers' trip worthwhile. This kind of price competition is a rare good opportunity for car buyers. Only by obtaining real price discounts can consumers buy with confidence and peace of mind. This is also the key to the Qilu Auto Show being able to stand in Shandong for more than 20 years and win the reputation of "Go to Qilu Auto Show to buy a car" among the people.
The powerful brand lineup and rich promotional activities of the Qilu International Auto Show not only make it convenient for consumers to easily and intuitively compare the performance, price and appearance of various vehicles according to their actual needs, but also the fierce competition between different car dealers of the same brand and the same-grade models of different brands will force manufacturers to offer the biggest discounts, so that consumers can "find" their favorite models at affordable prices.
Nearly 100 brands gathered
Celebrating the 50th Auto Show
The 50th Qilu International Auto Show has attracted major automobile brands to participate. Nearly 100 mainstream automobile brands at home and abroad will appear with ultra-high specifications. From fuel vehicles, hybrid power to pure electric new energy, all kinds of mainstream and flagship models are available. At that time, the five major exhibition halls of Shandong International Convention and Exhibition Center will also be fully opened to meet consumers' needs for car viewing and purchasing.
To celebrate the 50th Qilu International Auto Show, a grand event in the auto market, all major brands have unprecedented enthusiasm for participating in the exhibition, whether they are old friends who have accompanied the Qilu Auto Show for many years or new partners who are meeting for the first time.
According to statistics from the organizing committee, BYD, Denza, Fangchengbao, Yangwang, Great Wall Motors, Changan Automobile, Deep Blue, Geely, SAIC Volkswagen, FAW-Volkswagen, Jetta, Chery, Xingtu, Jietu, Chery New Energy, Buick, GAC Honda, Lynk & Co, Hongqi, SAIC Roewe, Kia, Beijing Hyundai, FAW Bestune, GAC Trumpchi, Dongfeng Yipai, Dongfeng Nano, Dongfeng Nissan, Dongfeng Fengshen, Dongfeng Fengxing, GAC Aion, SAIC MG, Leapmotor, Beijing Auto, Snow Brands such as Volvo, Ford, FAW Toyota, Arcfox, SAIC Maxus, Dongfeng Peugeot Citroen, Changan Mazda, Infiniti, BMW, Hongmeng Intelligent Driving, Lantu, Ideal, Volvo, SMART, Lincoln, Zhiji, Zeekr, Cadillac, Ford Zongheng, imported Hyundai, Subaru, Tesla, NIO, Xiaomi, Denza, Avita, Xiaopeng, Jiyue, Haobo, Jishi, Nezha Auto, and JAC Motors will gather together, and BK2 Motorcycle will also appear with multiple motorcycle brands.
It is worth mentioning that at this auto show, BYD will for the first time "dominate" the entire Hall 3 with its Denza, Fangchengbao and Yangwang brands. The group's brands will "band together" to exhibit and jointly showcase their charm as a leader in domestic automobile brands, celebrating the 50th Qilu International Auto Show in a unique way.
According to the organizers, in order to celebrate this milestone, a series of activities will be held on the opening day around the theme of "Riding the Wind in Qilu, Chasing the Light and Setting Sail Again", including the "50th Qilu Auto Show Awards Ceremony", "50th Qilu International Auto Show New Energy Vehicle Seminar", "Qilu Auto Show Old Photos Photography Retrospective Exhibition", "My Story with the Auto Show" theme essay contest and other activities. Through the rich forms of online and offline linkage, we will review the more than 20 years of development history of the Qilu Auto Show with major automobile brands, exhibitors, service providers and audiences, look forward to the future development prospects of the automobile industry, and witness this highlight moment in the growth history of the Qilu International Auto Show.
2024 Qilu International Auto Show (Autumn)
The 50th Qilu International Automotive Exhibition and Trade Fair
Time: September 5-9, 2024
Location: Shandong International Convention and Exhibition Center
(Massive News·Qilu One Point Zhang Xuelu Qingsong)
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