[SMM Flash]

Published: Jan 30, 2026 18:29

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The Shanghai Municipal Development and Reform Commission and the Shanghai Municipal Finance Bureau issued a notice on the implementation of the 2026 large-scale equipment renewal and consumer goods trade-in policy in Shanghai. It proposes support for vehicle replacement and renewal. Individual consumers who transfer the registration of a passenger vehicle under their name and purchase either a passenger NEV included in the Catalog of NEV Models Eligible for Vehicle Purchase Tax Reduction and Exemption, or a fuel-powered passenger vehicle with an engine displacement of 2.0 liters or below, will be eligible for a vehicle replacement subsidy. The subsidy amounts to 8% of the vehicle price for purchasing a passenger NEV (capped at 15,000 yuan) and 6% for purchasing a fuel-powered passenger vehicle with an engine displacement of 2.0 liters or below (capped at 13,000 yuan).

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