Sichuan to Launch 2026 Auto Trade-In Subsidy, Offering Up to ¥15,000 for New Energy Vehicles

The Sichuan Provincial Development and Reform Commission and the Department of Finance recently issued the "Sichuan Province Policy Measures for Implementing Large-Scale Equipment Upgrades and Consumer Goods Trade-In Programs in 2026," specifying subsidies for eligible vehicle replacement users. In 2026, individual consumers who scrap their old gasoline-powered or new-energy passenger vehicles and purchase qualifying new vehicles will be eligible for a one-time subsidy. Specifically: - Consumers scrapping an old vehicle to purchase a new-energy vehicle will receive a subsidy equal to 12% of the new vehicle’s price, capped at RMB 20,000. - Those purchasing a new-energy vehicle through trade-in (without scrapping) will receive a subsidy of 8% of the new vehicle’s price, capped at RMB 15,000. - For purchases of gasoline-powered vehicles with an engine displacement of 2.0 liters or less, the subsidy will be 10% (for scrapping) or 6% (for trade-in), with caps of RMB 15,000 and RMB 13,000, respectively. Eligible new-energy vehicles must be listed in the Ministry of Industry and Information Technology’s catalog of models exempt from vehicle purchase tax.