Many places across the country suspend the application of car "old for new" subsidy

In June, many places across the country suddenly suspended the application of automobile "trade-in" subsidies, causing shock in the industry. After major automakers jointly launched the "limited time fixed price" promotion, the market generally expected that the price war would continue to escalate, but unexpectedly, the subsidies were pressed the "pause button". Since May, nearly ten provinces and cities including Chongqing, Zhengzhou, Luoyang, Shenyang, and Xinjiang have suspended the application of automobile subsidies in a tight rhythm, and the wind direction has changed in just one month.