Guiyang implements trade-in policy to boost auto sales

An automobile dealership in Guiyang launches a trade-in activity to boost car sales. [Photo/WeChat account of Guiyang bureau of commerce] 

According to the Guiyang bureau of commerce, as of Aug 26, Guiyang consumers had submitted 3,867 applications through the national automobile circulation management platform, amounting to sales totaling 706 million yuan ($98.98 million) this year. 

In May, the Guizhou authorities issued an action plan for the automobile trade-in policy, including scrapping and replacing old cars. Under this plan, consumers who scrap old cars and purchase new energy passenger vehicles are eligible for a 20,000 yuan subsidy. 

Those who scrap gasoline passenger cars that meet National III or lower emission standards and purchase gasoline passenger cars with an engine displacement of 2.0 liters or less are eligible for a 15,000 yuan subsidy. 

Guiyang has actively organized and mobilized automobile dealerships across the city to implement the trade-in policy. Automakers and dealerships in Guiyang, such as BAIC, BYD, BMW, and Volkswagen, have launched trade-in activities. Several 4S store managers have reported increasing customers opting for trade-ins, with a growing preference for new energy vehicles.

Implementing the trade-in policy is expected to attract more potential customers and sales opportunities, leading to rapid sales and market share growth. This policy offers a valuable opportunity for consumers needing to replace their vehicles.