Ministry of Commerce data shows rapid growth in applications for subsidies on car trade-in platforms

According to the latest data from the Ministry of Commerce, as of November 18, the number of applications for scrapping and renewal subsidies on the car trade-in platform has exceeded 2 million, showing a rapid growth trend in the number of subsidy applications. This phenomenon indicates that the sales activities of the auto market at the end of the year will enter the sprint stage, especially driven by the appearance of new cars at auto shows and the old-for-new policy, domestic auto consumption is expected to be further boosted.