Overview
- Ministry of Commerce data reported 335,000 subsidy applications through Feb. 5, generating ¥53.77 billion in new‑car sales.
- Nationwide scrappage and recycling reached 659,000 vehicles, a 50.2% year‑on‑year increase.
- In January, the average transaction price of new cars purchased through the program exceeded ¥160,000, higher than a year earlier.
- The 2026 policy sets proportional subsidies with caps: for scrappage replacement, 12% of price for NEVs (up to ¥20,000) and 10% for ≤2.0L fuel cars (up to ¥15,000); for trade‑ins, 8% for NEVs (up to ¥15,000) and 6% for ≤2.0L fuel cars (up to ¥13,000).
- Industry figures for 2025 show China held 68.4% of global NEV passenger‑car volumes and a used‑car market of 20.11 million transactions, including 1.61 million used NEVs up 43% year on year.