Recently, seven departments including the Ministry of Commerce and the Ministry of Finance jointly issued the Detailed Rules for the Implementation of Auto Trade in Subsidy (hereinafter referred to as the Detailed Rules), and a new round of auto trade in supported by the central finance was officially launched.
The Detailed Rules specify the subsidy policy of car trade in: from the date of issuance of the Detailed Rules to December 31, 2024, individual consumers who scrap passenger cars with national emission standards of three or below, or new energy passenger cars registered before April 30, 2018, and purchase new passenger cars that meet the energy-saving requirements, can enjoy a one-time quota subsidy. Among them, 10000 yuan will be subsidized for scrapping the above two types of old passenger vehicles and purchasing qualified new energy passenger vehicles; For the scrapped passenger cars with the emission standard of the third country and below and the purchase of passenger cars with the displacement of 2.0L and below, RMB 7000 will be subsidized.
Auto consumption accounts for about 10% of the total retail sales of consumer goods. It is one of the important consumer goods and plays an irreplaceable role in expanding domestic demand. In recent years, a series of policies to promote automobile consumption in various departments around the country have almost kept the pace of "continuous development". This year, the trade in of old cars has been promoted to the national level, becoming a focus of promoting consumption.
On March 13, the State Council issued the Action Plan for Promoting Large scale Equipment Renewal and Consumer Goods Trade in, which clearly defined the implementation of the consumer goods trade in action and the trade in of automobiles and household appliances. On April 12, the Ministry of Commerce and other 14 departments issued the Action Plan for Promoting the Trade in of Consumer Goods, giving priority to "carrying out the trade in of old cars". This time, the release of the Detailed Rules marks the official implementation of the policy.
At present, China has more than 340 million cars, and more than 16 million passenger cars with emission standards at or below the third national level. There is a huge demand and potential for upgrading. The implementation of a new round of car trade in policy will directly benefit the car market, further release the potential of car consumption and stabilize the growth of car consumption. After the subsidy policy was made clear, Cui Dongshu, the secretary-general of the All China Passenger Transport Federation, predicted that the total number of scrapped vehicles should reach nearly 10 million, and the consumption of private new cars in the car market would bring about a million magnitude increase, as well as an annual consumption increase of more than 100 billion yuan.
The new round of car trade in will not only drive the sales volume, but also drive the growth of upstream and downstream industries such as parts, insurance, and maintenance, as well as the high-quality development of the automobile industry. Technological progress and product upgrading are important factors driving consumers to trade in the old for the new. In the face of the constant upgrading of automobile consumption demand, various automobile enterprises are competing to launch various more competitive intelligent and electric models. The trade in policy will create a better market environment and more stable market expectations, and help enterprises to innovate in technology and upgrade industries.
A new round of automobile trade in action proposed a series of measures to improve the recycling and dismantling system of end-of-life vehicles and promote the safe and convenient transaction of second-hand vehicles, which will further promote the innovative development of automobile circulation and consumption. "Guide end-of-life vehicle recycling and dismantling enterprises to improve recycling service level" "Support the construction of new energy used car power battery testing and valuation platform"... A series of targeted measures focusing on end-of-life vehicle recycling, used car transaction congestion difficulties will make it more convenient and cost-effective to scrap, transfer out and replace used cars.
The focus of the new round of car trade in is still on the consumer side, but the focus is not limited to terminal sales. At the same time of releasing demand and boosting the car market, promote the high-quality development of the automobile industry, leverage technology and product iteration to continuously release replacement demand, promote automobile consumption, strengthen the whole life cycle chain of automobiles, and promote China's automobile consumption on the road of stable and sustainable development. This is a "new story" to be told in the new round of automobile trade in. ( Worker's Daily - Beijing Mengyuan, reporter of China Industrial Network )
