Shanghai released the "Shanghai Action Plan for Accelerating Automotive Renewal Consumption (2024-2027) "

On July 10, the plan pointed out that from accelerating the elimination of vehicles and optimizing the structure of the automobile market, we will accelerate the consumption of automobile renewal. The "Action Plan" makes it clear that by 2027, the average age of used car transactions in Shanghai will be reduced by one year. The transaction volume of used cars reached 900,000, an increase of 50% over 2023; the export volume of used cars reached 15,000, which doubled compared with 2023; the recycling volume of scrapped cars reached 50,000, which doubled compared with 2023.