the “trade-in” policy has been upgraded, and the domestic auto market has ushered in a consumption boom
2024-08-31
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[global times reporter chen zishuai] zhao yu, an office worker in hefei, anhui, suddenly "exploded" his circle of friends on august 16th - many friends in the car circle and car sales forwarded the "20,000 yuan subsidy". on the same day, the country issued a new round of car trade-in policy details, and the subsidy amount was greatly increased compared with the previous one. this is good news for people like zhao yu who are planning to change cars and industry practitioners. the deepening and implementation of the "old for new" policy is setting off a new wave of car consumption. according to data from the ministry of commerce of china, as of august 23, the cumulative number of registered users on the car trade-in information platform exceeded 1.1 million. so, how should consumers apply for subsidies? what is the most cost-effective way to change cars? the global times reporter conducted interviews and investigations on this.
car "old for new" subsidy policy
"many people around me asked me about the steps of 'replacing'"
after bidding farewell to his buick regal fuel car that he had driven for four years, mr. chen from wuhan, hubei, switched to an electric car from a domestic new power brand. "it took me only one month from consulting in may to completely changing my car. during this period, i learned a lot about the car trade-in policy on the ministry of commerce and other websites, and i also felt the magnitude of the subsidy this time."
at present, there are two main ways to replace old cars with new ones: scrapping and replacing, and replacement and replacement. the subsidy policies for the two methods are different. mr. chen said that according to the situation of his car, after comparing the above two methods, he chose replacement and replacement. in the end, he received a total of 8,500 yuan in subsidies, including 7,000 yuan in hubei province subsidies and 1,500 yuan in consumer coupons issued by wuhan city.
mr. chen further said that under the subsidy policy, many of his friends also changed their cars. due to the different ways of changing cars and different models, they received different amounts of subsidies. "one of my friends scrapped and replaced his car, and received a subsidy of 10,000 yuan from the state." as he already had some experience in changing cars, more friends recently consulted him about the process of changing old cars for new ones.
manager zhang of a scrap car recycling and dismantling plant in ningbo, zhejiang province, which opened in august, told the global times reporter, "after seeing the subsidy policy, old car owners are more and more enthusiastic about scrapping their old cars and replacing them with new ones." although the company was established not long ago, manager zhang said that many people have called to inquire about the scrapping process, especially after the recent release of a new round of subsidy policies. for consumers who choose to scrap and update, the car scrapping process and related certificates are very important, because they need to upload the scrapping certificate on the platform to apply for subsidies later, so they must choose a qualified and formal scrapping plant.
however, as a consumer, mr. chen bluntly stated, "the car trade-in policies launched by the state and local governments are strong, but there may be too many details, which makes it troublesome for users to understand. in addition, consumers may know that there are relevant favorable policies, but don’t know where to find them." therefore, he suggested that the government increase its publicity efforts on social media platforms.
the reporter noticed that many official government accounts are currently teaching the public how to apply for relevant subsidies by launching convenient internet channels and making charts. this also makes it easier for consumers to grasp the latest policies more quickly. for example, beijing consumers can apply for beijing subsidies through the "jingtong" applet car trade-in subsidy page, the green transportation vehicle applet, and the "beijing car trade-in subsidy system" webpage pc terminal.
local governments and businesses are taking action
on august 16, the ministry of commerce and seven other departments issued the "notice on further improving the work of auto trade-in". specifically, the subsidy standard has been greatly increased this time. in terms of auto scrapping and renewal, the subsidy standard has been increased from the original 10,000 yuan subsidy for purchasing new energy passenger cars and 7,000 yuan subsidy for purchasing fuel passenger cars to 20,000 yuan and 15,000 yuan respectively, both of which have doubled or more. in addition to scrapping and renewal, this policy will also include replacement and renewal in the subsidy scope. the state directly arranges ultra-long-term special treasury bond funds to local governments to support local governments in independently carrying out replacement and renewal.
the global times reporter noted that in addition to the national subsidy policy, various regions are also working hard to launch their own "exclusive discounts". for example, on august 28, the "beijing implementation plan for strengthening support for equipment updates and consumer goods trade-in" was officially released. in addition to raising the subsidy standard for scrapping and updating personal passenger cars, beijing supports the replacement and update of personal passenger cars. consumers who transfer passenger cars registered in the city for more than one year and purchase new energy passenger cars from sales companies in the city will be subsidized.
on the evening of the 28th, a global times reporter went to a business district in chaoyang district, beijing, and found that some citizens were already consulting about relevant policies at a car sales store. one citizen told the reporter that he had been driving a fuel car for more than eight years and had recently seen the national subsidy policy on the internet, "so i came to see if there was a suitable car. if i found one i liked, i would take advantage of the subsidy to change it."
with the policy upgrade, domestic automakers have also launched superimposed discounts. a salesperson from a domestic new energy vehicle brand told the global times that in addition to the government subsidies, they will also provide consumers with an 8,000 yuan enterprise trade-in subsidy. "enterprise subsidies and government subsidies can be received at the same time." it is understood that nio has launched a maximum of 1 billion yuan in subsidies for oil vehicle replacement, and jd auto platform and its brands have invested 500 million yuan in subsidies... some car companies have chosen to provide consumers with more rights and interests. for example, the first owner of a new zeekr car can enjoy a 10,000 yuan deduction for the final payment if he orders the first 2025 zeekr 001 or 007 before the specified time.
some consumers said in an interview with the global times that the government not only supports citizens with "real money" to replace their cars, but also has a high degree of "inclusiveness" in its policies. for example, in beijing, new energy vehicles purchased after replacement include not only pure electric vehicles, but also plug-in hybrid vehicles (including extended-range) and fuel cell vehicles. the disposal of old cars is more flexible, and both transfers within and outside beijing can enjoy replacement subsidies.
the driving effect has already appeared
it is worth mentioning that the previous round of car trade-in policies has shown a driving effect. the relevant policies have been implemented for more than three months, and the results have gradually emerged, especially in the past two months, the number of subsidy applications has increased rapidly. the latest data shows that as of august 23, the car trade-in information platform received more than 700,000 applications for car scrapping and renewal subsidies, with more than 10,000 new applications per day, showing an accelerating growth trend.
zhang xiang, a researcher at the automotive industry innovation research center of north china university of technology, told the global times that the replacement cycle of chinese car owners is longer than that of developed countries in europe and the united states, and the number of cars per thousand people also has a large room for growth. therefore, "the state has introduced an incentive policy for car trade-in, doubling the subsidies, which can fully tap the potential of ordinary people to buy cars, drive the development of the auto retail industry, and further promote economic development."
since the automotive industry chain involves many industries and enterprises, the old-for-new policy will not only stimulate consumption, but will also further drive the development of the industry chain. huang zhengliang, assistant researcher at the institute of industrial economics of the international economic and technical cooperation center of the ministry of industry and information technology of china, told the global times that on the one hand, the policy will help improve the domestic waste industry chain and strengthen the recycling and reuse of domestic waste value. on the other hand, the new energy vehicle and parts and technology supply chain, the scrapped vehicle recycling and processing industry chain, new car travel services, and financial insurance fields will also be affected by the policy and move forward.
