As the year draws to a close, the fourth tranche of the 69 - billion - yuan national subsidy fund is gradually running out. Consequently, over 20 cities and prefectures nationwide have either suspended or made adjustments to the subsidies for trading in old cars for new ones.

Take Hubei Province as an example. Since mid - November, the daily issuance of qualification vouchers for trading in old vehicles for new ones has been replaced by a centralized distribution in four batches. The final batch of these vouchers was issued on December 5th, and each batch will remain valid until all are claimed.

Data from the Ministry of Commerce reveals that in the first 11 months of this year, more than 11.2 million vehicles were traded in for new ones, representing over one - third of the total sales volume. The China Passenger Car Association projects that the auto market will maintain stability in December. However, the China Automobile Dealers Association holds a different view. It believes that due to the combined impact of the policy's expiration and the year - end peak season, terminal retail sales in the auto market are likely to witness a substantial month - on - month increase.