Translation. Region: Russian Federal
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
TIANJIN, June 6 (Xinhua) — China’s vehicle trade-in subsidies are accelerating the adoption of new energy vehicles (NEVs), with the monthly penetration rate of NEVs in the passenger car market expected to exceed 60 percent in 2025, according to a report released Friday by Automotive Data of China (Tianjin) Co., Ltd.
The report, compiled jointly by the company and automotive information, trading and service platform Dongchedi (DCar), noted that more than 70 percent of consumers surveyed said the subsidies had increased their intentions to purchase a car.
In the first quarter of 2025, the volume of light-duty vehicle purchases under trade-in programs in China reached 2.79 million units, up more than 1 million units from the same period last year. The report also noted that the volume of vehicle purchases under the vehicle-exchange program exceeded that of the scrappage program, reaching 2.03 million units.
A survey conducted by Dongchedi found that consumers prefer subsidies for new car purchases and replacements through trade-in programs with lower participation thresholds. As subsidies become more widespread, applying for them before buying a car has become a common practice among consumers, with more than 50 percent relying on offline 4S stores to obtain information about subsidies, the report said. -0-