TapTechNews, May 11 - FAW Volkswagen has recently announced a new incentive program which offers substantial subsidies on new car purchases when trading in older vehicles. This campaign is available for all its models and customers can receive up to 26,000 RMB (approximately 3,740 USD) in combined subsidies, with the offer valid from today until May 31, 2024.
TapTechNews subsidy details include:
Lavida: Government subsidy of 7,000 RMB and a maximum manufacturer subsidy of 19,000 RMB, totaling up to 26,000 RMB.
T-Roc: Government subsidy of 7,000 RMB and a maximum manufacturer subsidy of 19,000 RMB, totaling up to 26,000 RMB.
Passat: Government subsidy of 7,000 RMB and a maximum manufacturer subsidy of 11,000 RMB, totaling up to 18,000 RMB.
Tiguan/Tiguan X: Government subsidy of 7,000 RMB and a maximum manufacturer subsidy of 11,000 RMB, totaling up to 18,000 RMB.
Golf: Government subsidy of 7,000 RMB and a maximum manufacturer subsidy of 7,000 RMB, totaling up to 14,000 RMB.
T-Cross: Government subsidy of 7,000 RMB and a maximum manufacturer subsidy of 7,000 RMB, totaling up to 14,000 RMB.
Jetta: Government subsidy of 7,000 RMB and a maximum manufacturer subsidy of 7,000 RMB, totaling up to 14,000 RMB.
Bora: Government subsidy of 7,000 RMB and a maximum manufacturer subsidy of 7,000 RMB, totaling up to 14,000 RMB.
Passat GTE/Tiguan GTE: Government subsidy of 10,000 RMB and a maximum manufacturer subsidy of 11,000 RMB, totaling up to 21,000 RMB.
ID. series: Government subsidy of 10,000 RMB and a maximum manufacturer subsidy of 10,000 RMB, totaling up to 20,000 RMB.
Recently, seven government departments including the Ministry of Commerce and the Ministry of Finance introduced the Automobile Trade-In Subsidy Implementation Rules. From the date of issue until December 31, 2024, individual consumers who scrap vehicles meeting China III emission standards or older, or new energy vehicles registered before April 30, 2018, and purchase a new energy vehicle included in the Ministry of Industry and Information Technology's New Energy Vehicle Tax Exemption List or a gasoline vehicle with a displacement of 2.0 liters or below, will receive a one-time fixed subsidy.
For scrapping the aforementioned old vehicles and purchasing a new energy vehicle, a subsidy of 10,000 RMB will be provided; for scrapping vehicles meeting China III emission standards or below and purchasing a gasoline vehicle with a displacement of 2.0 liters or below, a subsidy of 7,000 RMB is offered.
Following this, several manufacturers including BYD have announced their own subsidy initiatives alongside government incentives, and now FAW Volkswagen has joined this initiative.