Zhengzhou Announces Higher Automobile Trade-in Subsidy Standards

TapTechNews August 9th news, TapTechNews learned from the Zhengzhou Municipal Bureau of Commerce that the Announcement on Improving the Standards of Automobile Trade-in for New Ones was released today.

The announcement proposes that for individual consumers who scrap qualified used cars and purchase qualified new cars in accordance with the Implementation Rules for Automobile Trade-in for New Ones Subsidy (Commercial Consumption Letter [2024] No. 75), the subsidy standard is increased from 10,000 yuan for purchasing new energy passenger cars and 7,000 yuan for purchasing fuel passenger cars to 20,000 yuan and 15,000 yuan respectively.

For consumers who have submitted applications and meet the subsidy conditions, the adjusted subsidy standard shall be implemented. For the corresponding scrapped motor vehicles that consumers apply for subsidies, they must be registered under their own names before July 24, 2024 (inclusive). Before citizens participate in the declaration of subsidies, they need to carefully check the Operation Guide and User Notice through the Automobile Trade-in for New Ones program to ensure that the declaration materials are legal, compliant and meet the national declaration requirements.

On July 25th, the National Development and Reform Commission and the Ministry of Finance issued today the Several Measures on Strengthening Support for Large-scale Equipment Renewal and Consumer Goods Trade-in for New Ones, proposing a series of measures such as raising the subsidy standard for automobile scrap and renewal, and supporting the trade-in of home appliances for new ones.

Related Reading:

Two Departments: Raise the Subsidy Standard for Automobile Scrap and Renewal, and Newly Purchased New Energy Passenger Cars Can Be Subsidized by 20,000 Yuan