Since August, a multitude of regions nationwide have temporarily halted their subsidy programs aimed at encouraging car replacements and upgrades. In some locales, these subsidies were put on hold as early as the first half of the year. However, in a recent turn of events, with funding now secured, governments in several regions have decided to reinstate these policies. Generally, they are implementing a first-come, first-served approach to manage the allocation of funds. Wang Du, the Vice President of the China Automobile Dealers Association, highlighted that last year, the government allocated more than 90 billion yuan in subsidies to the automotive sector, which spurred a sales growth exceeding 10%. Looking ahead, it is expected that the government will earmark over 180 billion yuan this year to bolster trade-in subsidies, potentially driving another roughly 10% increase in car sales.