The Yichang Municipal Bureau of Commerce has actively promoted the car trade-in initiative by organizing policy outreach activities in communities, businesses, online platforms, institutions and exhibitions. In addition, they have builtsocial media platforms such as WeChat and Douyin to disseminate timely information about subsidies, trade-in procedures, and other pertinent details to consumers. By the end of September, over 10,000 vehicles had been traded in or scrapped in Yichang, with subsidy applications totaling 115 millionyuan.
Fueled by national and local trade-in policies for consumer goods, promotional offers from car manufacturers, financial incentives for car purchases, and the introduction of popular car models, many consumers have prioritized trading in or scrapping their vehicles. This has led to a surge in Yichang’s car market during the traditional peak sales in September and October. According to the statisticsfrom the local automobile industry association, passenger car sales inYichangexceeded 1,400 carsbetween October 1 and 7.
The head ofthe Circulation Industry Development and Market System Construction Division of the Yichang Municipal Bureau of Commerce advised consumers to provide a Class I bank card number when applying for trade-in subsidies to avoid any issues due to limit restrictions. They also urged consumers to carefully review and verify their information before submission to prevent errors and delays in the reapplication process. (Reporter/Yang Chunyan, Correspondent/Tan Zheng)