2026 Auto Trade-In Subsidy Policy Launched: Up to ¥20,000 Rebate, New Cars Average Over ¥160,000

Since the implementation of the 2026 vehicle trade-in subsidy policy, significant results have been achieved. As of February 7, a total of 335,000 applications have been received nationwide, driving RMB 53.77 billion in new vehicle sales. In January, the average price of new vehicles purchased through the trade-in program exceeded RMB 160,000, and the number of scrapped vehicles collected reached 659,000 units—a year-on-year increase of 50.2%. The updated policy has expanded eligibility criteria and clarified registration deadlines for old vehicles: gasoline-powered vehicles must have been registered before June 30, 2013; diesel and other fuel-type vehicles before June 30, 2015; and new-energy vehicles before December 31, 2019. Subsidies are granted as a percentage of the new vehicle’s purchase price, with a maximum of RMB 20,000 for scrappage-and-replacement transactions and up to RMB 15,000 for trade-in replacements. Eligible applicants will receive their subsidies within 30 working days.