The "Action Plan for Promoting Large-Scale Equipment Updates and Trade-in of Consumer Goods" was issued by the State Council. Industry insiders believe that with the implementation of the above-mentioned plans, the auto market will establish an effective mechanism that makes it easier to get rid of old cars.
Scrap-for-sale will become an important driving force for industry growth. By 2027, the recycling volume of scrapped cars will approximately double compared with 2023, and the transaction volume of second-hand cars will increase by 45%.