On January 30th, reports emerged that the Shanghai Municipal Development and Reform Commission, in collaboration with the Finance Bureau, had issued a joint notice outlining the implementation strategies for the 2026 large-scale equipment upgrade and consumer goods trade-in initiative. Central to this policy is the encouragement of vehicle replacement and upgrade. Individual consumers who transfer ownership of passenger vehicles registered under their names and subsequently purchase new energy passenger vehicles listed in the 'Catalog of New Energy Vehicle Models Eligible for Vehicle Purchase Tax Reduction and Exemption,' or alternatively, opt for gasoline-powered passenger vehicles with an engine displacement of 2.0 liters or less, will qualify for replacement subsidies. Specifically, those purchasing new energy passenger vehicles will receive a subsidy equivalent to 8% of the vehicle's price, capped at a maximum of 15,000 yuan. Meanwhile, buyers of gasoline-powered passenger vehicles with a displacement of 2.0 liters or less will be eligible for a 6% subsidy of the vehicle's price, with the maximum subsidy amount not exceeding 13,000 yuan.