China releases action plan to encourage trade-in of consumer goods including cars
China has released an action plan to encourage the trade-in of consumer goods, including cars. Coupled with a 0% down payment option to buy a NEV, this is likely to spur strong demand in China this year.China aims to double the amount of scrapped cars recycled by 2027 compared to 2023.
(Image credit: CnEVPost)
China has released details of its policy on the trade-in of old cars as p
art of efforts to boost consumption.
Fourteen government departments, including China's Ministry of Commerce, jointly released the action plan to promote consumer goods replacement today to accelerate the nation's trade-ins of cars and home appliances.
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