Car replacement subsidies may be restarted in H2

Published: Jun 24, 2025 09:50

Save

[Boosting Effect Exceeds Expectations, Vehicle Trade-in Subsidies Expected to Be Strengthened Again in H2] Recently, some regions have announced that due to the better-than-expected effect of the vehicle trade-in subsidy policy, the subsidy funds have been used up ahead of schedule, and the acceptance of vehicle trade-in subsidy applications will be suspended. According to incomplete statistics by reporters, so far, more than ten regions have suspended applications for vehicle trade-in subsidies. A person in charge of a relevant local department told reporters that the current vehicle scrappage and renewal policies are still being continued to implement, but the central and local matching subsidy funds for vehicle trade-in and renewal have been temporarily used up, and it is necessary to wait for the central government to allocate funds in H2 before considering restarting the program.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

10 hours ago

MMi Daily Iron Ore Report (September 2)

Iron ore futures traded softer today. The DCE most-active contract I2701 settled at RMB 714.0/mt, down 1.11% from the previous trading day.

10 hours ago

Magnesium Prices Rise for Three Consecutive Sessions! Cost Side Remains "Burning Hot" While Demand Side Struggles to Take Over [SMM Commentary]

10 hours ago

11 hours ago

[ Canada to Impose 50% Retaliatory Tariff on US Steel ]

The Canadian government announced a 50% retaliatory tariff on United States exports of steel and aluminum, scheduled to take effect on September 8, 2026. The aggressive trade measure directly responds to the recent collapse of bilateral metal trade negotiations and the implementation of US tariffs. The cross-border penalties threaten to heavily disrupt integrated North American steel supply chains ahead of the fast-approaching deadline.

11 hours ago