Automobiles are a key area for the implementation of the trade in policy for consumer goods. Recently, the Ministry of Commerce and other departments jointly issued a notice on further improving the work related to car trade in. Since then, many regions have successively issued policy documents to increase subsidy standards, expand subsidy scope, and increase financial support, and to intensify efforts to promote car trade in. Car trade in, including scrapping and replacement updates. In terms of automobile scrapping and renewal, the Notice specifies that for individual consumers who meet relevant regulations, scrap old cars and purchase new cars, the subsidy standards will be increased from 10000 yuan for purchasing new energy passenger cars and 7000 yuan for purchasing fuel passenger cars, respectively, to 20000 yuan and 15000 yuan. On this basis, various regions have issued implementation rules according to their own situations. On September 3rd, the Shanghai Development and Reform Commission and the Shanghai Finance Bureau jointly issued the "Implementation Plan for Further Strengthening the Promotion of Consumer Goods Trade in", implementing the national automobile scrap subsidy policy. The subsidy for individual consumers to purchase new energy passenger vehicles has been increased from 10000 yuan to 20000 yuan, and the subsidy for purchasing 2.0-liter and below displacement fuel passenger vehicles has been increased from 7000 yuan to 15000 yuan. On September 6, 2024, the Implementation Plan for Supporting the Trade in of Vehicles in Hunan Province was released. The relevant person in charge of the Hunan Provincial Department of Commerce introduced that from April 24, 2024 to December 31, 2024, scrapped National III and below emission standard fuel passenger vehicles or new energy passenger vehicles registered before April 30, 2018 (inclusive), and purchased new energy passenger vehicles included in the "Catalogue of New Energy Vehicle Models Exempted from Vehicle Purchase Tax" of the Ministry of Industry and Information Technology, or 2.0-liter and below displacement fuel passenger vehicles, will be given a one-time quota subsidy. The subsidy standard has been raised to 20000 yuan for purchasing new energy passenger vehicles and 15000 yuan for purchasing 2.0-liter and below displacement fuel passenger vehicles. Tianjin recently released the "Implementation Plan for Strengthening Support for Consumer Goods Trade in". Sun Wenxiu, Deputy Director of the Development and Reform Commission of Tianjin, stated that Tianjin actively increases subsidy standards. In terms of scrapping and updating personal passenger cars, the subsidy for individual consumers to purchase new energy passenger cars has been increased from 10000 yuan to 20000 yuan, and the subsidy for purchasing 2.0-liter and below displacement fuel passenger cars has been increased from 7000 yuan to 15000 yuan. According to data from the Ministry of Commerce, as of August 23, the cumulative number of registered users on the car trade in information platform has exceeded 1.1 million, and more than 700000 applications for car scrapping and renewal subsidies have been received, with over 10000 new applications added in a single day, showing an accelerating growth trend. While carrying out the scrapping and renewal of automobiles, the Ministry of Commerce also guides various regions to make good use of the central support funds, reasonably formulate and issue subsidies for automobile replacement and renewal, and continue to expand the effectiveness of the policy of exchanging old cars for new ones. Subsidies for replacing and updating passenger cars continue to increase in various regions. Hunan proposes that from April 24, 2024 to December 31, 2024, individuals who transfer their household cars and purchase new passenger cars within Hunan Province can receive a maximum subsidy of 14000 yuan based on the type and price of the purchase. Liao Guanghui, Deputy Director of the Department of Commerce of Hunan Province, stated that the province will take the "dual" and "two new" special action to provide policy solutions and excellent services as an opportunity to promote the transformation of consumers from "using what they can use" to "exchanging what they can exchange", and accelerate the transfer of policy dividends from "paper" to enterprises' "accounts" and consumers' "hands". During the event, the Provincial Department of Commerce will work with departments such as Development and Reform Commission, Industry and Information Technology, Public Security, Housing and Urban Rural Development, Finance, and Municipal Supervision to further optimize the review process and accelerate the progress of fund disbursement. In Tianjin, individual consumers who sell their eligible old cars and purchase eligible new energy passenger vehicles will receive a government subsidy of 15000 yuan from September 11, 2024 (inclusive), and those who purchase eligible fuel passenger vehicles will receive a government subsidy of 10000 yuan. In order to cooperate with the implementation of the policy of exchanging old for new, the Agricultural Bank of China Tianjin Branch has launched a minimum "0 down payment" car purchase installment product, continuously improving the efficiency of car loan business acceptance. Since the beginning of this year, Agricultural Bank of China Tianjin Branch has provided over 9000 car loan transactions, with loan amounts exceeding 1.2 billion yuan, an increase of over 240% compared to the same period last year, "said Ji Hong, General Manager of the Credit Card Center of Agricultural Bank of China Tianjin Branch. Shanghai has implemented phased policy measures to optimize the quota for new energy vehicle special license plates, supporting individual users' demand for trade in. According to the policy, individual users who purchase pure electric vehicles through trade in programs are eligible to apply for a special license plate quota. Firstly, individual users who own both "non-commercial small buses" and "new energy small buses" can transfer or scrap their "new energy small buses" and purchase new pure electric vehicles through trade in programs; Secondly, individual users who own two or more "new energy small buses" under their name can transfer or scrap their "new energy small buses" and purchase new pure electric vehicles through trade in. (New Society)