June Data Shows 65.4% of New Energy Vehicles Received Trade-in Subsidies: Ministry of Commerce

According to the latest data from the Ministry of Commerce, since the beginning of this year, the "trade-in for new" policy for consumer goods has driven over RMB 1.25 trillion in related sales, benefiting 169 million people. Specifically, 3.707 million vehicles and 63.266 million home appliances have been traded in, while 79.098 million digital and smart devices have been newly purchased. The share of new energy vehicles (NEVs) among subsidized vehicle trade-ins has continued to rise, reaching 65.4% in June. From January to June, sales of digital and smart products increased by 13.4% year-on-year, with a remarkable 32.0% growth in June alone—smart glasses have emerged as a new consumption hotspot. Nineteen regions nationwide have implemented their own category-specific subsidy policies, driving sales of 992,000 related items. Cities and provinces including Beijing, Shanghai, and Jiangsu have expanded subsidies to cover cutting-edge smart products such as embodied intelligent robots. The number of offline participants in the trade-in program has grown by 28.1% year-on-year, further invigorating county- and township-level markets.