Shanghai introduces car trade-in subsidy policy, up to 20,000 yuan.

Shanghai has introduced a car trade-in subsidy policy, where consumers can receive subsidies ranging from 12,000 to 20,000 yuan after scrapping or transferring their old vehicles and purchasing new ones. This initiative aims to align with the national policy of promoting equipment upgrades and consumer goods trade-ins, thereby unlocking consumption potential.

Key Points:

• Subsidy range: 12,000 to 20,000 yuan
• Policy objective: Promote equipment upgrades, release consumption potential
• Implementation period: 2024

Event Tracking:

• September 25, 2024: The Ministry of Commerce received over 1.13 million applications for scrappage and renewal subsidies
• July 19, 2024: Shanghai relaxed the conditions for auto consumption credit applications
• June 3, 2024: The Ministry of Finance allocated 6.44 billion yuan for car trade-in subsidies

Personal Insight: This policy effectively stimulates the automotive market, promotes consumption upgrades, and drives the development of environmental protection and new energy vehicles.