The number of applications for car trade-in subsidies exceeded 5 million

According to data released by the Ministry of Commerce on the 10th, as of 24:00 on December 9, the total number of applications for subsidies for replacing old cars in the country exceeded 5 million, of which more than 2.44 million were scrapped and more than 2.59 million were replaced.
The replacement of old vehicles with new ones was carried out in an orderly manner, and the effect of the policy was accelerated. In November, domestic passenger car retail sales reached 2.423 million units, up 16.5% year on year and 5.2 percentage points faster than in October. From January to November, retail sales of passenger cars reached 20.257 million units, up 4.7% year-on-year. In November, domestic new energy passenger vehicle retail sales reached 1.268 million units, an increase of 50.5% year-on-year, accounting for 52.3% of domestic passenger vehicle retail sales. From January to November, the retail sales of domestic new energy passenger vehicles reached 9.594 million, an increase of 41.2% year-on-year.
In November, 1.032 million scrapped vehicles were recycled nationwide, an increase of 141.6 percent year-on-year. From January to November, 6.878 million scrapped vehicles were recycled nationwide, up 64.6% year-on-year.