Shenyang to Issue $50M in Automobile Consumption Subsidies in 2024

According to TapTechNews on June 17th, today saw the convening of the press conference for the 2024 Shenyang Summer Automobile Promotion and Consumption Activity. The Shenyang government has decided to issue 50 million US dollars worth of automobile consumption subsidies from June 18th to June 30th, 2024.

Eligibility Requirements

Individual consumers who purchase a passenger car, mini or light-duty truck (including new energy vehicles and hybrid vehicles) worth 70,000 US dollars or more from the automobile sales enterprises participating in the activity in Shenyang, excluding operating vehicles and used cars. (About 450,000 RMB).

The date of the unified invoice for motor vehicle sales and the date of the motor vehicle registration certificate must be between June 18th (inclusive) and June 30th (inclusive), 2024.

Upload the unified invoice for motor vehicle sales, the ID card of the car buyer, and the motor vehicle registration certificate as required. After meeting the requirements and passing the review, the subsidy can be obtained.

The area of motor vehicle registration and licensing is not restricted.

During the automobile promotion and consumption activity, each individual consumer can only enjoy one car purchase subsidy.

Subsidy Standards

The automobile consumption subsidy is issued in the form of a UnionPay App red envelope and is divided into 3 tiers according to the amount of the car purchase invoice.

In the first tier, for purchasing a new fuel vehicle with a total invoice amount including taxes of 70,000 US dollars (inclusive) to 150,000 US dollars (exclusive), a 2,000-US-dollar automobile consumption subsidy is issued. (About 13,000 RMB).

In the second tier, for purchasing a new fuel vehicle with a total invoice amount including taxes of 150,000 US dollars (inclusive) to 250,000 US dollars (exclusive), a 3,000-US-dollar automobile consumption subsidy is issued. (About 20,000 RMB).

In the third tier, for purchasing a new fuel vehicle with a total invoice amount including taxes of 250,000 US dollars (inclusive) or more, a 4,000-US-dollar automobile consumption subsidy is issued. (About 26,000 RMB).

For purchasing a new energy vehicle, an additional 1,000 US dollar is issued on top of the above tiers. This car purchase subsidy can be enjoyed simultaneously with the national car trade-in subsidy or the Shenyang car renewal consumption subsidy.

TapTechNews noticed that in April this year, 7 departments such as the Ministry of Commerce and the Ministry of Finance issued the Detailed Rules for the Implementation of the Automobile Trade-in Subsidy. From the date of the issuance of this rule to December 31st, 2024, for individual consumers who scrap fuel passenger cars with national standard 3 and below or new energy passenger cars registered before April 30th, 2018 (including the same day, the same below), and purchase new energy passenger cars included in the Catalog of New Energy Automobiles Eligible for Vehicle Purchase Tax Exemption or fuel passenger cars with a displacement of 2.0 liters and below, a one-time fixed subsidy is given.

Among them, for scrapping the above two types of old cars and purchasing a new energy passenger car, a subsidy of 10,000 US dollars i s given; for scrapping a fuel passenger car with national standard 3 and below and purchasing a fuel passenger car with a displacement of 2.0 liters and below, a subsidy of 7,000 US dollars.