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Car Renewal Subsidy Programme Accelerating - MOFCOM

CHINA PRESS

Car buyers have accelerated applications for the national automobile scrapping and renewal subsidy programme, Ministry of Commerce Spokesperson He Yadong has said. MOFCOM’s trade-in platform recently received 10,000 applicants in four days, marking a jump in the growth rate, He noted. Automakers sold 1.7 million retail passenger cars in May, up about 10% m/m, of which NEV sales totalled 790,000 units. From January to May, major e-commerce platforms saw home appliance trade-ins up 81.8% y/y, He added.

MNI Beijing Bureau | lewis.porylo@marketnews.com

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