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At the Ministry of Commerce's regular press conference on August 22, the spokesperson introduced the recent situation of car trade-in.

As of noon on August 22, the Ministry of Commerce's automobile trade-in information platform has received more than 680,000 applications for automobile scrapping and renewal subsidies, and about 340,000 new subsidy applications have been received in the past month. The automobile scrapping and renewal policy has led to a rapid increase in the recycling of scrapped vehicles. From January to July, 3.509 million scrapped vehicles were recycled nationwide, a year-on-year increase of 37.4%, of which May, June and July increased by 55.6%, 72.9% and 93.7% year-on-year respectively.

Recently, in order to further expand the policy effect and comply with the calls from all parties, the CPC Central Committee and the State Council decided to use ultra-long-term special treasury bond funds to increase support for the trade-in of consumer goods. In terms of the trade-in of cars, the main policy adjustments are as follows:

Raise the standard. The subsidy standard for scrapping and updating new energy vehicles has been raised from 10,000 yuan and 7,000 yuan respectively to 20,000 yuan and 15,000 yuan.

Retroactive application. All eligible applications for automobile scrapping and renewal subsidies will be implemented in accordance with the new subsidy standards; subsidies that have already been issued will also make up the difference.

Optimize the process. Work with relevant departments to optimize the subsidy application review and fund disbursement process, and strive to ensure that consumers receive subsidies as soon as possible.

While carrying out the scrapping and renewal of automobiles, we will also guide local governments to make good use of the central government's support funds, reasonably formulate and implement automobile replacement and renewal subsidy policies, and continuously expand the effectiveness of the old car for new policy.

What is the subsidy standard for car trade-in in 2024? How to apply for the subsidy? What materials are required? Let's take a look at it——

How much is the subsidy standard?

How to apply for subsidies?

Individual consumers who intend to apply for subsidies for car trade-in should log in to the National Automobile Circulation Information Management System website or the "Car Trade-in" applet before January 10, 2025, fill in their personal identity information, and submit their subsidy application.

The State Council client mini program has launched a new section for "Large-scale equipment renewal and consumer goods trade-in".

There is a column for "Auto Trade-in Subsidy Application".

Subsidy applications, progress inquiries, operation guides... can all be viewed with just one click.

Scan the QR code to apply↓↓

hint:

If you need to change or correct relevant information, it should be completed before 24:00 on January 10, 2025.

What materials are needed to apply for subsidies?

● Applicant’s identity information: you need to upload photos of the front and back of your ID card.

● Applicant’s bank account information.

● Photos or scanned copies of the original “Certificate of Scrapped Motor Vehicle Recycling” and “Certificate of Motor Vehicle Cancellation”.

● Photos or scanned copies of the original “Motor Vehicle Sales Unified Invoice” and “Motor Vehicle Registration Certificate” of the new vehicle.

How are subsidies distributed?

Cash subsidies are issued. After the car owner completes the procedures for scrapping the old car and purchasing a new car, he/she submits the subsidy application materials through the car trade-in platform. After the materials are reviewed and approved, the local financial departments will transfer the subsidy funds to the bank account provided by the applicant according to the procedures.

Source: China Government Network

Editor: Xie Yongli

Process Editor: Ma Xiaoshuang