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2024 is the year of "trade-in". the ministry of commerce and seven other departments issued the "implementation rules for automobile trade-in subsidies" and the "notice on doing a good job in trade-in" in april and july respectively. subsidies for scrapped cars have been increased, local replacement policies have been introduced, and the number of replacements has increased rapidly. as of august, the automobile trade-in platform has registered more than 1.1 million users for subsidy applications. against this backdrop, faw toyota has performed particularly well among joint venture brands. in august, faw toyota's sales exceeded 72,000 vehicles, which is the third consecutive month that faw toyota has sold more than 70,000 vehicles. in the increasingly competitive environment of the chinese auto market, how can faw toyota maintain such a stable sales growth? more customers said that vehicle value preservation and process convenience played an important role in the choice of replacement. faw toyota pursues the business philosophy of value long-termism and has won the favor of more consumers in the wave of trade-in.

in the "2023 china automobile retention rate report" issued by the circulation association at the beginning of the year, faw toyota ranked first in the three-year retention rate among joint venture manufacturers. in 2024, faw toyota's three suvs - prado, crown land rover, and rongfang - all won the first place in the value retention rate in the joint venture brand suv segment. faw toyota's product retention rate has maintained a leading level for a long time, verifying the high value that long-termism brings to customers during the car life cycle.

(faw toyota's high value retention performance)

on september 22, in order to give back to the trust of car owners, faw toyota's national dealerships held the fourth 922 "love used cars" value preservation festival for new and old customers. chengdu amway was used as the flagship store to broadcast the event online to car owners across the country and interact with them throughout the process.

deepen the security system and focus on value management

the 2024 922 value preservation festival is themed "love as before". faw toyota's used car value protection system "opens up the last mile of caring for customers' car life and provides value management for customers", which reflects the two-way rush of the brand and the car owner. as mr. lan zhaobin, director of the sales department of faw toyota motor sales co., ltd., said, "'value preservation' means the accumulation of long-termism and the source of consumers' trust in toyota cars." as the first joint venture manufacturer to launch a used car brand in china, faw toyota ranks first in the country in the number of used car replacement and retail outlets. such a nationwide network provides customers with a full-process service from buying and selling to replacement. all outlets have appraisers with professional evaluation qualifications, and all online stores strictly screen and certify used cars. they are open and transparent in evaluation, testing, and pricing, which further guarantees the rights and interests of customers. at the event site, the gold medal technicians of chengdu anlijie toyota store vividly staged a 170-item test show, demonstrating faw toyota's strict control of vehicle quality. certified used cars that have undergone 170 professional technical tests are sold at a value-preserving price and bought with confidence.

(lan zhaobin, director of sales department, faw toyota motor sales co., ltd.)

(gold medal technicians vividly perform professional testing operations)

in 2024, faw toyota launched new mid-to-high-end models such as the new prado, the new rongfang, the new avalon, and the new grevia, further creating market demand for upgrading and replacement, thus cooperating with the national policy of replacing old cars with new ones. faw toyota took the lead in promoting dealers to implement more convenient value-preserving replacement and scrapping agency processes, consolidating the implementation experience of national policies. from january to august this year, 150,000 customers have enjoyed one-stop replacement services at faw toyota dealerships.

during the value preservation festival in september, faw toyota has a limited-time gratitude feedback policy of trading in old vehicles for new ones with double compensation of up to 27,000 yuan. owners of faw toyota original products will also experience the fun of changing cars for a better value preservation.

(mr. zhou kaiming, sales director of chengdu amway toyota store sales department, announced the 922 value preservation festival love policy)

enriching car owners' choices with electrification strategy layout

at the 922 value preservation festival, faw toyota announced the electrification upgrade of its certified used car brands and awarded plaques to the first batch of 23 new energy certified used car sales stores. following the hot sales of the pure electric sedan bz3 and toyota's intelligent electric hybrid dual-engine electrification transformation, faw toyota has completed the ecological layout of new energy used cars and the certification of the first batch of sales stores.。in order to give back to car owners and set industry standards, faw toyota has upgraded and launched ev certified car service commitments based on the 12 service commitments for fuel vehicles, which are mainly reflected in the following three aspects:

stricter screening: new energy vehicle models must be no older than 5 years and have travelled less than 150,000 kilometres

more stringent testing: 220 in-depth tests, 2 re-tests

more peace of mind: enjoy the same warranty rights as the first car owner, and enjoy an extra-long warranty policy for the three electrics

at the value preservation festival, the new energy certified used car area was crowded with customers. from "seeing, hearing, touching, and tasting", customers fully experienced the "love, as before" of faw toyota's new energy certified used cars.

soon, consumers should be able to buy highly cost-effective new energy certified used cars at some faw toyota dealerships. this move not only provides customers with more opportunities, but is also believed to provide effective support for the long-term value of faw toyota's new energy vehicles.

industry recognition

mr. pan lei, consultant of the used car strategic development research association of china automobile dealers association and vice president of jingzhengu, issued a testimony, further affirming faw toyota's outstanding performance in the used car market.

(pan lei, counselor of the china automobile dealers association’s used car strategic development research institute and vice president of jingzhengu)

in the current booming used car market, faw toyota has achieved high value retention with high-quality products, rich product lines, excellent after-sales services and active market response. whether it is the strict standards of r&d and production, or the rich selection of models, and perfect after-sales services, faw toyota has become the only car brand that car owners can trust.

classic car owner award ceremony

the value preservation festival is inseparable from the interaction with car owners. at the event, three car owners shared their stories of exchanging old cars for new ones with faw toyota.

for example, mr. zhai, who obtained a loyal replacement owner, as a half-insider, replaced the crown model with a camry. because of his trust in the quality and service of faw toyota, he repeatedly recommended his relatives and friends to buy new and used cars from faw toyota, and now enjoys the wonderful life brought by faw toyota vehicles; mr. zhou, who obtained a value-preserving replacement owner, was the original owner of land cruiser. after the new prado was launched, he replaced it with prado without hesitation. relying on the reliability and durability of the new prado, he conquered the future journey and enjoyed his love of free galloping in work and life; mr. peng, who obtained a classic certified car owner, has a sincere love for the care of the vehicle. the certified used car purchased in 2023 has been returned to the factory for maintenance and participated in huili activities 6 times in the past year. his trust in the wonderful activities and thoughtful services in the store is touching. presumably, owners who cherish their vehicles so much will definitely get high value-preserving feedback of "long-termism".

(faw toyota leaders present surprise gifts of gratitude to classic car owners)

(the car handover ceremony for new car owners is held on stage)

the excitement of faw toyota's value preservation festival is a microcosm of faw toyota's years of deep cultivation in the value chain and services. the favorable policies will enable the steady and steady brand to enter an ideal virtuous circle. the basis for faw toyota to adhere to long-termism is to fully respond to national policies and fully develop intelligent hybrid and high-end products.

the popularity of old-for-new is still rising. the china automobile dealers association has recently predicted that the national scrapping and replacement policy will likely bring an increase of 3 million new cars in 2024. this number can effectively boost market information and accelerate the market recovery. in the ever-changing consumer demand, high-quality values ​​are probably the basis for empathy between customers and brands.