Hangzhou's Automobile Replacement Subsidy Policy for Individual Consumers

TapTechNews August 24th news, according to the WeChat official account 'Hangzhou Release', in order to further promote the automobile replacement and renewal, for individual consumers to scrap or transfer (except for changes) the passenger car under their own name, and purchase a new passenger car with 7 seats or less (including 7 seats) in Hangzhou, a one-time automobile replacement subsidy can be applied for.

TapTechNews attaches the subsidy standards as follows:

If the price of the new car is between 50,000 and 150,000 (excluding), the subsidy for fuel vehicles is $930, and the subsidy for new energy vehicles is $1240;

If the price is between 150,000 and 250,000 (excluding), the subsidy for fuel vehicles is $1240, and the subsidy for new energy vehicles is $1550;

If the price is 250,000 or more, the subsidy for fuel vehicles is $1550, and the subsidy for new energy vehicles is $1860.

The price of the new car is the invoice price of the 'Uniform Invoice for Motor Vehicle Sales'.

The subsidy application approach:

Consumers should submit the application in the WeChat mini-program 'Automobile Replacement and Renewal in Zhejiang Province' before January 10, 2025, and upload relevant materials and certificates as required.

The place where the 'Uniform Invoice for Motor Vehicle Sales' of the new car is issued is the subsidy acceptance place. The registration time of the old car under the name of the subsidy applicant must be before August 22nd (including that day).

Matters needing attention:

The replacement and renewal subsidy places are limited, first come, first served, and end when used up.

During the activity, each subsidy applicant and the same second-hand passenger car can only enjoy one subsidy.

The old car and the new car need to be under the same person's name. There is no requirement for the registration time of the old car.

Consumers can choose to scrap or replace the old car first, or buy a new car first, but the dates of relevant materials such as the 'Proof of Recycling of Scrapped Motor Vehicles', 'Proof of Cancellation of Motor Vehicle Registration', 'Uniform Invoice for Motor Vehicle Sales', 'Motor Vehicle Registration Certificate', and 'Motor Vehicle Driving License' should all be within the policy period, that is, from August 22nd, 2024 to December 31st, 2024 (including that day).

This round of automobile replacement policy is only for individual consumers, and there is no requirement for whether the vehicle under their name is of an operational nature.

This policy has no restrictions on the vehicle registration place, license plate place, and scrapping place. As long as the vehicle is purchased in Hangzhou, vehicles from other provinces can enjoy this policy.

This policy does not enjoy repeatedly with the national subsidy for automobile scrapping and renewal and the local new car purchase subsidy policy.

For more questions, please consult each automobile sales enterprise in Hangzhou.