China EV Trade-In Subsidy Policy
Covers government policies and incentives related to electric vehicle trade-in programs in China, including subsidies, eligibility criteria, and implementation updates.
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Only 6 All-Electric Models Exceeded 10,000 Units in February Sales
China's all-electric vehicle market saw a sharp downturn in February, with just six models surpassing 10,000 units in sales. Total NEV sales fell 32% year-over-year despite aggressive price reductions, signaling weak consumer demand and mounting industry pressure.
Passenger Vehicle Retail Sales in February Down 25.4% Year-over-Year
In February 2026, passenger vehicle retail sales in China dropped 25.4% year-over-year to 1.034 million units, driven by the expiration of NEV purchase tax incentives and Lunar New Year volatility. Domestic brands saw a 30% YoY decline despite gaining market share.
February Sedan Sales Ranking: Only Two EVs in the Top Ten
In February, just two electric vehicles cracked the top ten best-selling sedans in China, as internal combustion engine models like Geely’s Galaxy E5 and Volkswagen’s Lavida dominated amid a post-holiday slowdown and reduced EV subsidies.
2026 Government Work Report Released: Economic Growth Target Set at 4.5%–5%, Emphasizing High-Quality Development
China has released its 2026 Government Work Report, setting an economic growth target of 4.5%–5% and reaffirming commitments to high-quality development, carbon reduction, and stable employment—key factors shaping the EV and green tech landscape in the opening year of the 15th Five-Year Plan.
iCAR V27 Launches Starting at RMB 169,800
The iCAR V27 has officially launched in China with prices starting at RMB 169,800. Positioned as a rugged mid-to-large SUV, it features a 1.5T range-extended powertrain and offers up to RMB 40,000 in purchase incentives for early buyers.
Domestic Fuel Prices See Largest Increase of the Year
China’s refined oil prices jumped by CNY 500/ton effective March 9, 2026—the biggest increase this year—driven by Middle East conflicts and global crude spikes. Gasoline prices now approach CNY 8 per liter, raising vehicle operating costs and potentially accelerating EV adoption.
AITO M7 Offers Up to RMB 70,000 in Limited-Time Purchase Benefits
From February 27 to March 22, AITO is offering up to RMB 70,000 in purchase incentives for the M7 SUV, including tax subsidies, free customization options, and advanced intelligent driving packages. The promotion targets increased market share in the competitive mid-to-large EV SUV segment.
Audi E5 Offers Limited-Time Benefits Worth RMB 30,000
SAIC Audi’s E5 Sportback is available with a RMB 30,000 promotional package through March 31, 2026, including tax exemptions, cash rebates, and low-interest financing to boost sales of its new all-electric model.
BMW China Officially Lowers Prices on Multiple Models by Up to RMB 301,000
Starting January 1, 2026, BMW China has reduced MSRPs on 31 core models—including the i7 M70L and iX1 eDrive25L—by as much as RMB 301,000. The move is part of its 'In China, For China' strategy to boost accessibility without triggering a price war.
New Energy Passenger Vehicle Sales Surpass 50% Penetration for the First Time in 2025
In 2025, new energy vehicle (NEV) sales in China reached a historic milestone with 53.3% annual market penetration. December alone saw 1.329 million units sold, driven by strong performances from BYD, Xiaomi, and XPeng, despite policy phase-outs affecting year-end demand.
New Energy Vehicle Retail Market Faces Pressure in December 2025 Amid Surging Exports
December 2025 saw modest NEV retail growth in China with sales up 2.6% YoY, while exports skyrocketed by 120%. Policy phaseouts and rising raw material costs pressured demand, prompting automakers to cut production. The China Passenger Car Association forecasts only ~10% NEV market growth in 2026 as the sector enters a more stable, less promotional phase.
China's Auto Production and Sales Hit Three New Records in 2025
In 2025, China’s auto industry achieved record production (34.53M), NEV sales (16.49M), and exports (7.1M), with NEV penetration surpassing 50% in the domestic passenger car segment. Growth is expected to slow in 2026 as competition shifts toward quality and innovation.