CCTV News (News Network): The reporter learned from the Ministry of Commerce on May 12 that as of now, the number of applications for old-for-new automobile subsidies in 2025 has reached 3.225 million. Since the implementation of the automobile trade-in policy in 2024, the cumulative subsidy application volume has exceeded 10 million.
The old-for-new car policy effectively promoted the continuous recovery of automobile consumption. From January to April this year, the domestic retail sales of passenger cars were 6.872 million, an increase of 7.9% year-on-year.
New green and intelligent consumption products are highly favored. This year, new energy vehicles account for more than 53% of the car trade-in. From January to April, the cumulative retail sales of new energy passenger cars was 3.324 million, an increase of 35.7% year-on-year. The level of resource recycling is constantly improving. In the first four months of this year, the number of scrapped cars recycling reached 2.767 million, an increase of 65% year-on-year.
