The policy is effective! 113,000 applications for car scrap update subsidies

On June 25th, the Ministry of Commerce released data showing that since the implementation of the trade-in action plan for consumer goods in March, the policy results have gradually emerged. As of 12 noon on June 25th, the Ministry of Commerce's automotive trade-in information platform has received 113,000 applications for automobile scrap and renewal subsidies. The number of new subsidy applications has exceeded 36,000 in the past week, showing an accelerated growth trend. In May, the national automobile retail 2.271 million vehicles, an increase of 8.7% year-on-year; among them, the retail sales of new energy passenger vehicles increased by 38.5% year-on-year, the second-hand car transaction 1.585 million vehicles, an increase of 5.9% year-on-year, and the amount of scrap car recycling 523,000 vehicles, an increase of 55.6% year-on-year.