The difference between old and new hot and cold cars: commercial vehicles are hot, family cars are cold
The details of the vehicle trade-in program were officially announced as scheduled. However, a reporter found out that the subsidy policy is applied differently between commercial vehicles and family cars. While the commercial vehicle market has seen strong demand, the family car market remains sluggish.
**Commercial Vehicle Market Is Booming**
Recent reports indicate that since the implementation of the car trade-in policy, the commercial vehicle sector has experienced a significant surge in interest. To keep up with this trend, many businesses have introduced various commercial vehicle packages aimed at attracting buyers.
According to a 4S dealership in Gio Microcars, sales have been extremely strong. This growth can be attributed to manufacturers leveraging the national old-vehicle replacement policy. They launched a new micro-car replacement initiative, encouraging customers to trade in their old micro-cars. In addition to receiving government subsidies for rural car purchases, dealers have partnered with home appliance stores to offer promotions such as "buy a car, get appliances." These combined incentives have made the commercial vehicle trade-in market highly active.
**Family Car Market Remains Unresponsive**
In contrast, the family car market has shown little response to the trade-in policy. Reporters visited several used car trading markets and found no significant increase in transaction volumes. A car owner planning to replace his vehicle mentioned that only high-emission vehicles qualify for the "new-for-new" policy, but he cannot benefit from both the small-displacement purchase tax incentive and the trade-in subsidy. Most consumers opt for the easier-to-access tax incentive instead.
Additionally, some car owners pointed out that most used cars can be sold for over 20,000 yuan in the second-hand market. If they choose to scrap their vehicles, they receive less in subsidies, making it less appealing. Song Linlin, deputy general manager of Yunda Motor Vehicle Trading Co., Ltd., noted that most car owners prefer selling their vehicles rather than scrapping them. The current subsidy policy does not effectively encourage the removal of outdated cars from the market.
Overall, while the trade-in program has given a strong boost to the commercial vehicle market, its impact on the family car segment has been limited, highlighting the differing dynamics across vehicle types.
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