CCTV News: The reporter learned from the Ministry of Commerce on May 12 that since the implementation of the automobile trade-in policy, the cumulative subsidy application volume has exceeded 10 million.

Data from the Ministry of Commerce shows that as of May 11, the number of applications for automobile trade-in subsidies in 2025 reached 3.225 million, of which 1.035 million were scrapped and 2.19 million were replaced. Since the implementation of the automobile trade-in policy in 2024, the cumulative subsidy application volume has exceeded 10 million.

The old-for-new policy effectively promotes the continuous recovery of automobile consumption. From January to April, the domestic retail volume of passenger cars was 6.872 million, an increase of 7.9% year-on-year. According to business big data monitoring, in April, the automobile sales of key monitored retail enterprises increased by 1.9% year-on-year.

New green smart consumption products are highly favored. In 2025, new energy vehicles account for more than 53%. From January to April, the cumulative retail sales of new energy passenger cars was 3.324 million, a year-on-year increase of 35.7%; the market penetration rate reached 48.4%, an increase of 0.8 percentage points from the whole year of 2024.

The level of resource recycling is constantly improving. From January to April, the number of scrapped cars recycling reached 2.767 million, an increase of 65% year-on-year.