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ECNS Wire

Applications for vehicle trade-in subsidy exceeds 10 mln: MOC

2025-05-13 15:35:51Ecns.cn Editor : Mo Honge ECNS App Download

An overseas buyer uses VR equipment to experience the intelligent cockpit system of new energy vehicles at the 137th Canton Fair on April 19 in Guangzhou. (Photo/China News Service)

An overseas buyer uses VR equipment to experience the intelligent cockpit system of a new energy vehicle at the 137th Canton Fair on April 19, 2025 in Guangzhou. (Photo/China News Service)

(ECNS) -- Latest data released by the Ministry of Commerce (MOC) on Monday shows that since the implementation of the 2024 vehicle trade-in policy, subsidy applications have exceeded 10 million.

As of Sunday, the number of subsidy applications for the 2025 vehicle trade-in program reached 3.225 million, including 1.035 million for vehicle scrapping and replacement, and 2.19 million for trade-in upgrades. New energy vehicles accounted for over 53% of the applications.

The ministry stated that the vehicle trade-in policy has effectively boosted consumption, green transformation, and resource recycling.

From January to April, domestic passenger vehicle retail sales reached 6.872 million, up 7.9% year on year.

During the same period, retail sales of new energy passenger vehicles totaled 3.324 million, a 35.7% year-on-year increase, with a market penetration rate of 48.4%, while 2.767 million end-of-life vehicles were recycled, up 65% year on year, according to MOC.

(By Zhang Dongfang)