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Intern Yang Jiachun Cai Yaqing

On August 20, Jimu News reporter learned from the Wuhan Municipal Bureau of Commerce that, as of now, the car trade-in subsidy policies at all levels have boosted car sales by 28,148 units (6,257 units scrapped and updated, 21,891 units replaced and updated), completing the annual car trade-in target ahead of schedule, with a declared subsidy amount of 353 million yuan (calculated according to the increased subsidy standard), boosting sales by 5.38 billion yuan.

In addition, on the 20th, the Wuhan Municipal Government held a press conference for the 2024 University Freshmen Tour Wuhan event, announcing the launch of the "Jiali Car Trade-in Policy" and electric bicycle trade-in subsidies. Subsidies can be enjoyed for scrapping and updating or replacing cars, and scrapping and updating electric bicycles.

Significantly promote the development of Wuhan's entire automotive chain

At noon on the 20th, at a shopping mall on Longyang Avenue in Hanyang District, the reporter saw that there was a car booth at the entrance of the mall to attract consumers' attention. "We specially arranged posters for car trade-in subsidies, and many citizens who were shopping came to consult after seeing them." The booth staff introduced that after the implementation of the car trade-in subsidy policy, the number of customers received increased significantly. In order to better familiarize themselves with the trade-in policy, colleagues also strengthened daily training to better receive customers.

The staff member also said that if customers are willing to replace their used cars, the store can provide one-stop service from entering the store to view the car, ordering the car to scrapping the used car and picking up the car, so as to avoid customers having to make extra trips.

Xiaopeng Motors Sales Co., Ltd., a sales manager in the Hunan and Hubei regions, said that since the implementation of the policy this year, the company's car sales and the number of replacement customers have shown a significant increase, with the proportion of trade-in sales accounting for about half of the total sales each month. The company has also formulated car price reductions and exemptions to actively cooperate with government policies.

A car exhibition stand at a shopping mall in Wuhan

According to the relevant person in charge of the Wuhan Municipal Bureau of Commerce, Wuhan invested 20 million yuan to launch the first round of Wuhan auto trade-in consumer vouchers from April 26 this year, firing the first shot of auto trade-in in the central and western regions. After the central and provincial auto trade-in policies were released, Wuhan adjusted the municipal policies in a timely manner and launched the second round of auto trade-in consumer voucher activities on May 16, clarifying that municipal consumer vouchers can be superimposed with national and provincial policies, which significantly promoted the development of the entire automobile chain in Wuhan. In the first half of this year, Wuhan sold 191,000 passenger cars, of which 86,000 were new energy passenger cars, a year-on-year increase of 40.8%, accounting for 43.2% of new car sales. The second-hand car transaction volume was 135,000, a year-on-year increase of 17.1%. The number of scrapped cars was 19,000, a year-on-year increase of 13.2%.

Wuhan City strengthens its old-for-new policy

In addition, on August 20, the Wuhan Municipal Government held a press conference for the 2024 University Freshmen Tour Wuhan event, announcing the launch of the "Jiali Car Trade-in Policy" and electric bicycle trade-in subsidies. Subsidies can be enjoyed for scrapping and updating or replacing cars, and scrapping and updating electric bicycles.

According to reports, the subsidy standard for consumers to scrap old cars and buy new ones has been increased from 10,000 yuan for new energy passenger cars and 7,000 yuan for energy-saving fuel vehicles to 20,000 yuan and 15,000 yuan respectively. Consumers who transfer old cars to buy new cars will be given a doubled subsidy of 2,000 to 7,000 yuan based on the existing car purchase subsidy of 2,000 to 7,000 yuan according to the energy type and price of the new car. The subsidy funds for car trade-in are retroactive. Applications for scrapping and renewal and replacement and renewal subsidies for cars submitted and approved from April 24 and May 31, 2024 will be subsidized according to the new standards.

Consumers who scrap old electric bicycles that do not meet national standards or electric bicycles registered before July 30, 2019, and purchase new qualified electric bicycles produced by companies that meet the "Electric Bicycle Industry Standard Conditions" will be given subsidies. Specific subsidy standards and participation methods are being formulated.

(Source: Jimu News)

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