Recently, the Ministry of Commerce, the Ministry of Finance and other 7 departments jointly issued the "Implementation Rules for Car Trade-in Subsidy". It is stipulated that from the date of issuance of the "Detailed Rules" to December 31, 2024, individual consumers of new passenger cars who meet the requirements can enjoy a one-time fixed subsidy, with a maximum subsidy of 10,000 yuan. Who can receive this subsidy package, and how should they apply for it? What changes will the implementation of the trade-in subsidy rules bring to the consumer market?
Who can claim it Car trade-in subsidy?The implementation time is from the date of issuance of the "Detailed Rules" to 24:00 on December 31, 2024. The subsidy application time is from the date of issuance of the "Detailed Rules" to 24:00 on January 10, 2025. If it is necessary to change the relevant information of the amendment, it should also be completed before 24:00 on January 10, 2025. If the subsidy application is not submitted within the time limit or the relevant application information is corrected, the subsidy will not be processed.
Why the subsidy application time is ten days longer than the implementation time, experts explained that for consumers, the purchase of vehicles should be from now until December 31 of this year, during which the scrapping and the purchase of new cars should be completed.
Xu Haidong, Deputy Chief Engineer of China Association of Automobile Manufacturers: It should be said that the country has a slight delay, mainly to meet the needs of consumers who buy cars in the last few days of December, so that they have more time to go through the corresponding procedures.
The scope of the subsidy is during the implementation of the policy, that is, until December 31 this year, for individual consumers to scrap the national III and below emission standards passenger cars or new energy passenger vehicles registered before April 30, 2018 (including that day), and purchase included in the Ministry of Industry and Information Technology's "Catalogue of New Energy Vehicle Models for Reduction and Exemption of Vehicle Purchase Tax" new new energy passenger cars or new passenger cars with a displacement of 2.0 liters and below, after completing the vehicle registration, a fixed subsidy will be given.
Xu Haidong, Deputy Chief Engineer of China Association of Automobile Manufacturers: The scope of subsidies for car trade-in does not include unit vehicles or commercial vehicles. The subsidy is only for passenger cars for individual consumers. Moreover, the subsidy for the trade-in of the car and the consumer applying for the new car must be the same person.
How do I apply for a car trade-in subsidy?It is understood that the car trade-in subsidy adopts the method of online application, and the materials submitted include the applicant's valid identity information, the applicant's own relevant certificate of scrapped car, and so on.
Consumers can search for the "Car Trade-in" Mini Program by visiting the "Car Trade-in Topic" on the website of the National Automobile Circulation Information Management System or Alipay, Douyin, WeChat, and UnionPay platforms.
Submissions include:
Valid identity information of the applicant;
The card number and account opening bank information of the UnionPay debit card issued by the commercial bank in China held by the applicant;
Original photos or scanned copies of the "Scrapped Motor Vehicle Recycling Certificate" and "Motor Vehicle Cancellation Certificate" of the applicant's scrapped car;
The original photo or scanned copy of the "Uniform Invoice for Motor Vehicle Sales" and "Motor Vehicle Registration Certificate" of the new car purchased by the applicant.
After the application materials are successfully submitted, they will be pushed to the place where the subsidy is accepted (i.e., the place where the "Uniform Invoice for Motor Vehicle Sales" is issued), and the local commerce department will review the application materials in conjunction with the local departments of finance, public security, industry and information technology in accordance with their functions and responsibilities, and feedback the review results through the car trade-in platform.
Expert: The policy will have a positive effect on the marketExperts said that the subsidy from the central government to the local government, need to come up with a certain amount of funds, in general, will have a positive effect on the market, to increase the internal circulation or to build a new development pattern to play an important role.
The criteria for this subsidy include:
A subsidy of 10,000 yuan will be given to those who scrap passenger cars with emission standards of China III and below or new energy passenger vehicles registered before April 30, 2018 (including that date) and purchase new new energy passenger vehicles included in the Catalogue of New Energy Vehicle Models for Reduction and Exemption of Vehicle Purchase Tax issued by the Ministry of Industry and Information Technology;
If you scrap the fuel passenger car with emission standards of China III and below and purchase a new car with a displacement of 2.0 liters and below, the subsidy is 7,000 yuan.
The passenger cars mentioned in the "Detailed Rules" refer to the small and micro passenger cars registered with the public security traffic management department.
China III and below emission standard fuel passenger vehicles refer to fuel passenger vehicles with gasoline fuel type registered before June 30, 2011 (inclusive) or diesel passenger vehicles and other fuel types registered before June 30, 2013 (inclusive). Other fuel types include blended oil, natural gas, LPG, methanol, ethanol, hydrogen, biofuels, and more.
Fuel passenger cars with an engine displacement of 2.0 liters or less refer to passenger cars with an engine displacement of 2.0 liters or less and a fuel type of gasoline, diesel or other fuel types. Other fuel types include blended oil, natural gas, LPG, methanol, ethanol, hydrogen, biofuels, and more.
14 departments issued
Action Plan for Promoting Trade-in of Consumer Goods
The Ministry of Commerce and 14 other departments recently issued the "Action Plan for Promoting the Trade-in of Consumer Goods", which pointed out:
By 2025, we will strive to accelerate the elimination of passenger cars with emission standards of China III and below;
End-of-life vehicle recycling will increase by 50% compared to 2023;
By 2027, the number of end-of-life vehicles recycled will double compared to 2023, and the volume of used car transactions will increase by 45% compared to 2023.