China Vehicle Trade-ins Hit 18.3M in 2024-2025, NEVs Near 60%

From 2024 to 2025, a total of 17.673 million end-of-life vehicles were recycled nationwide, with an average annual growth rate of 45.8%.

On January 6, the State Council Information Office of China held a press conference to provide updates on the progress of promoting green consumption.

Vice Minister of Commerce Sheng Qiuping stated that from 2024 to 2025, China facilitated the replacement of 18.3 million old vehicles with new ones through the old-for-new vehicle replacement subsidy program, with new energy vehicles accounting for nearly 60% of these replacements.

During the same period, approximately 17.673 million end-of-life vehicles were recycled nationwide, with an average annual growth rate of 45.8%. Second-hand car transactions reached 39.686 million units. About 53 million used home appliances and mobile phones underwent standardized dismantling, with an average annual growth rate of around 12%.

Officials stated that the old-for-new replacement program drove consumer goods sales totaling 3.92 trillion yuan, benefiting 494 million consumer visits.

According to data released by the Ministry of Commerce in October 2025, for the year 2025 alone, the number of applications for the automotive old-for-new replacement subsidy had exceeded 10 million by October 22. This included over 3.4 million applications for vehicle scrapping/replacement and over 6.6 million applications for trade-in replacement.

The policy’s effectiveness in promoting green transformation is evident. Data shows that it directly contributed to a 24.4% year-on-year increase in retail sales of new energy passenger vehicles from January to September, achieving a market penetration rate of 52.1%. Notably, the market penetration rate in September reached 57.8%, marking the seventh consecutive month of growth.

Referring to data from the first three quarters of 2025, the volume of recycled end-of-life vehicles was 7.345 million, representing a year-on-year increase of 47.9%. According to estimates from relevant institutions, the cumulative recyclable materials include approximately 7.1 million tons of steel, 920,000 tons of aluminum, and 930,000 tons of plastic, contributing to carbon emission reduction of over 21 million tons.