On April 13th, it was announced by the People's Government of Guangdong Province regarding the issuance of the "Implementation Plan of Guangdong Province to Promote Large-scale Equipment Renewal and Trade-in of Consumer Goods".
The plan includes organizing a trade-in program for cars, encouraging automobile manufacturers and dealers to offer car purchase discounts through promotional activities, issuing subsidies for trade-ins, and providing incentives such as free charging stations, all aimed at promoting car renewal consumption.
Furthermore, strict enforcement of mandatory scrapping standards for motor vehicles and vehicle safety and environmental protection inspection standards will be carried out, and old cars meeting the mandatory scrapping standards will be phased out in accordance with laws and regulations.
The notification also mentions optimizing financial support, encouraging banks to appropriately reduce the down payment ratio for consumer vehicle loans under the premise of legal compliance and controllable risks, and reasonably determining the loan term and credit limit for automobile loans.
Banks are encouraged to introduce loan policies supporting the renewal of old trucks.
Of note, it is mentioned that Guangzhou and Shenzhen will further relax restrictions on car license plate quotas, meaning that friends in Guangzhou and Shenzhen who wish to buy cars will find it more convenient.
