Qingdao Issues RMB 250 Million in Auto Trade-in Subsidies for March; New Energy Vehicles Get Up to RMB 12,000

The Qingdao Municipal Bureau of Commerce announced that in March, the city will disburse RMB 250 million in subsidies for vehicle trade-in programs to boost automobile consumption. Since the launch of the "2026 Qingdao Spring Festival Consumption Season" in February, approximately RMB 2.53 billion in auto sales have already been generated. Under the updated subsidy policy, fixed-amount subsidies have been replaced with percentage-based subsidies: buyers of new energy passenger vehicles will receive a subsidy equivalent to 4% of the total invoice price (including tax), capped at RMB 12,000 per vehicle; for fuel-powered vehicles, the subsidy rate is 3%, with a maximum of RMB 10,000 per vehicle. These subsidies cannot be combined with other Qingdao 2026 vehicle trade-in incentives. The total subsidy fund is limited and will be allocated on a first-come, first-served basis until exhausted.