Beijing Automotive Trade-in on the 24th started the recent introduction of subsidy details

Yesterday (10th), Beijing’s car and home appliance trade-in policy was formally launched. The maximum subsidy for the replacement of old cars is 6,000 yuan. The subsidy scheme will be in parallel with the previous yellow label car subsidy scheme. Consumers can choose one of them. However, people in the industry believe that the standard of subsidies for automobile trade-in replacement is small, and the actual driving effect on automobile consumption is limited.

Du Shaozhong, deputy director of the Beijing Municipal Environmental Protection Bureau, said that according to the national policy, each old car can get a subsidy of RMB 3,000 to RMB 6,000 when it is redeemed, and a car with 1.6 liters or less has a policy of halving the purchase tax at the time of purchase. No longer enjoy the swap allowance. Beijing has already started a subsidy scheme for the elimination of yellow-label vehicles. The subsidy standard for each vehicle ranges from 500 yuan to 22,000 yuan. For Beijing's owners, car trade-in can be one of two subsidies.

In May of this year, the State Council passed a resolution to further increase its efforts to scrap old subsidies for autos, hoping to promote the weak auto consumption market to a certain extent. The subsidy funds of the central government have increased from 1 billion yuan to 5 billion yuan, and the vehicles that enjoy the "new trade-in" offer have been fully expanded into the commercial vehicle sector.

It is understood that in order to cope with the predicament of consumption, Germany has implemented a “new-for-new” subsidy policy, which gives a “new-for-new” subsidy of 2,500 euros (approximately equivalent to 24,300 yuan) for the recycling of used cars over 9 years old and the purchase of new energy-saving cars.

The Italian government awards incentives for the purchase of electric vehicles, small-displacement cars, etc., which can total up to 5,000 euros per car (equivalent to approximately 48,500 yuan).

For the national trade-in vehicle replacement standard, the relevant person in charge of the old motor vehicle trading market in Beijing stated that, taking a Fukang vehicle produced in 2001 as an example, the owner may get 8000 from a process of recycling to a new subsidy. Yuan’s subsidy funds, which are sold directly to the used car market at a price of approximately 10,000 yuan or more, will not result in a significant boost to Beijing’s auto consumption.

An owner who asked not to be named said that scrapped old cars can sell scrap iron for several thousand dollars, and the country’s subsidy policy is not attractive.

Du Shaozhong said that the trade-in of vehicles will be launched on August 24th, and details of the detailed exchange subsidies will be introduced around August 21.