Blockbuster! The car trade-in program is here!


Zhang Dongmei


On April 12, the Ministry of Commerce, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Finance and other 14 departments jointly issued the "Action Plan to Promote the exchange of old consumer goods for new" (hereinafter referred to as the "Action Plan"), the implementation of the "Notice of The State Council on issuing the" Action Plan to Promote Large-scale Equipment Renewal and Consumer Goods for new Products "last month. Organize nationwide to carry out the replacement of old cars and household appliances and home improvement kitchen and bathroom "refresh".


Specifically for automobiles, the Action Plan sets the following goals: By increasing policy guidance and support, and strive to achieve the accelerated elimination of passenger vehicles with national III and below emission standards by 2025, and the recycling of scrapped vehicles will increase by 50% compared with 2023; By 2027, recycling of scrapped cars will double compared with 2023, and used car transactions will increase by 45% compared with 2023. Automobile V was released, praised 34 for the whole chain to promote the replacement of old cars, and the "action plan" proposed specific policy support measures, involving new cars, used cars, scrapped cars, automobile aftermarket and other links. Specifically, the first is to increase financial and financial policy support, the central finance and local government linkage, arrange funds to support the renewal of automobile scrapping, encourage conditional local support for automobile replacement and renewal. Financial institutions are encouraged to appropriately reduce the down payment ratio for auto loans.


In fact, at The State Council policy routine briefing on April 11, Fu Jinling, director of the Economic Construction Department of the Ministry of Finance, said that the central finance focus on supporting the promotion of old cars for new, scrap high-emission passenger cars or eligible new energy passenger cars, and buy consumers who meet the energy-saving requirements or new energy vehicles to give quota subsidies. The second is to highlight the standard traction in the automotive field, eliminate old cars that meet the mandatory scrapping standards in accordance with the law and regulations, and guide owners to independently eliminate old cars that meet the guided scrapping standards. "In terms of automobiles, we encourage the replacement of old automobiles with high energy consumption, high emissions, long service life and safety risks with new energy vehicles or energy-saving vehicles." Xu Xingfeng, director of the Department of Market operation and consumption Promotion of the Ministry of Commerce, said at the above briefing.


The third is to improve the recycling and dismantling system of scrapped vehicles, promote door-to-door collection service mode, optimize the layout of the recycling and dismantling industry of scrapped vehicles, include key projects of qualified resource recycling into the central budget investment and other support scope, standardize the business behavior of scrapped vehicle recycling and dismantling enterprises, and investigate and punish illegal activities such as illegal dismantling according to law.


The fourth is to promote the ease of trading of used cars, implement facilitation measures such as "reverse billing" for used car sales and registration of off-site transactions, break all kinds of hidden obstacles, and support the construction of new energy used car power battery testing and valuation platforms.


The fifth is to cultivate and strengthen the main body of second-hand car business, encourage automobile production enterprises to carry out second-hand car replacement, manufacturer certification and other businesses, encourage second-hand car sales enterprises to provide vehicle quality assurance services, encourage local second-hand car sales enterprises to carry out hierarchical and classified management, and implement second-hand car export management measures.


Sixth, promote the innovative development of automobile circulation consumption, carry out pilot reform of urban automobile circulation consumption, promote the optimization of automobile purchase restriction measures in relevant regions, encourage the improvement of electric charging (replacement), parking, smart transportation and other infrastructure, and support the development of car modification, car rental, car racing, RV camping, traditional classic car and other related industries.


For the "action plan" released this time, Wu Zhixin, deputy general manager of China Automobile Technology Research Center Co., Ltd. wrote an exclusive interpretation of the article for China Automobile News, he believes that this is a timely rain to boost market confidence and expand automobile domestic demand, which will stimulate the trillion yuan scale market space and improve the long-term mechanism of automobile consumption.


Originally published by China Automotive News, April 15, 2024