Chongqing to Continue 2024 Automobile Replacement and Renewal Subsidy Policy with Additional Funds
TapTechNews September 12th news, TapTechNews learned from the Chongqing Automobile Business Association that the Chongqing Municipal Commerce Commission today released the 'Notice on Continuing to Promote and Implement the 2024 Automobile Replacement and Renewal Subsidy Policy' and proposed that since the 'Notice on Optimizing, Upgrading and Adjusting the 2024 Automobile Replacement and Renewal Subsidy Policy' was jointly issued on August 20th, the enthusiasm of the city's automobile consumption market has soared, and the potential of automobile consumption has been effectively released. As of September 9th, the $37.04 million of this round of subsidy policy funds has been fully declared.
The Chongqing Municipal Commerce Commission announced that in order to better adapt to the current situation of the automobile consumption market and further stimulate the vitality of the automobile consumption market, after reporting to the municipal government for consent, it was decided to continue to promote and implement the 2024 automobile replacement and renewal subsidy policy.
On the basis of the $37.04 million of this round of subsidy policy funds that have been fully declared, $37.04 million more subsidy policy funds will be added to continue to implement the 2024 automobile replacement and renewal subsidy policy, and the subsidy will end when the subsidy funds are used up or the policy expires. The applicable time, object conditions, subsidy standards, subsidy methods, channels for declaring subsidies, requirements for declaring subsidy materials, procedures for declaring subsidies, supporting policies, and relevant work requirements remain unchanged.
The 'Notice' also proposed that the business departments of all districts and counties (autonomous counties) need to work together with the development and reform, finance, public security, market supervision, tax authorities and relevant industry associations and relevant units to further increase the social publicity of the Chongqing automobile replacement and renewal subsidy policy, expand the public's awareness, orderly promote the implementation of the policy, vigorously promote automobile consumption, stabilize the expectations of the automobile consumption market, and stabilize the current strong consumption situation.
The main information of the subsidy policy released in August this year is as follows:
For those who exchange for new energy vehicles, it is connected with the ongoing automobile replacement and renewal subsidy policy, from 0:00 on May 21, 2024 to 24:00 on December 31, 2024.
For those who exchange for fuel vehicles, from 0:00 on August 20, 2024 to 24:00 on December 31, 2024.
For objects that meet the subsidy conditions, they shall take the initiative to declare according to the relevant requirements of the subsidy declaration materials and the fixed declaration channels, and after being approved according to the procedures, for purchasing new energy passenger cars, a subsidy of not less than $450 and not more than $1800 shall be given according to 6% of the naked car price (referring to the price and tax inclusive amount on the 'Motor Vehicle Sales Uniform Invoice', the same below) rounded to the nearest ten;
For purchasing fuel passenger cars new cars, a subsidy of not less than $300 and not more than $1500 shall be given according to 5% of the naked car price rounded to the nearest ten. It will be distributed in the form of cash to the bank debit card of the object that meets the subsidy condit ions.