Trade-in programme boosts car sales in China

18/07/2024

An incentive programme that the Chinese government launched in March boosted sales of cars there in the first half of the year.

This programme invites consumers to apply for financial support to trade in older products, including cars, furniture and electric appliances, and buy new ones.

The ministry of commerce has said it received more than 100,000 applications for trade-in funding for cars before the end of June.

Figures for May showed total car sales in China of more than 2.25 million units for the month, up by 8.7% compared to the same month last year.