消费品以旧换新带动销售额1.1万亿元

Core Insights - The consumption upgrade policy has significantly boosted sales in various sectors, with a total sales increase of 1.1 trillion yuan driven by the replacement of old consumer goods [1] - The government has allocated 300 billion yuan in special bonds to support the consumption upgrade initiative, doubling the amount from the previous year [1] Group 1: Sales Data - As of May 31, 2025, the old-for-new replacement program has led to 4.12 million applications for automobile subsidies [1] - A total of 49.863 million consumers purchased 77.618 million units of 12 categories of household appliances [1] - Approximately 53.529 million consumers bought 5.6629 million digital products, including mobile phones [1] - The program has also seen 6.5 million electric bicycles replaced and 57.626 million home renovation orders [1] Group 2: Consumer Spending Trends - In the first four months of 2025, the total retail sales of consumer goods reached 16.18 trillion yuan, marking a year-on-year growth of 4.7% [1] - In April, the retail sales of goods increased by 5.1% year-on-year, with a 0.5 percentage point acceleration compared to the first quarter [1] - Retail sales from above-designated size enterprises grew by 6.6%, with an acceleration of 0.8 percentage points from the first quarter [1] Group 3: Sector Performance - Retail sales of household appliances, cultural office supplies, furniture, and communication equipment increased by 38.8%, 33.5%, 26.9%, and 19.9% year-on-year, respectively [2] - In April, the retail volume of passenger cars rose by 14.5% year-on-year, with new energy vehicles seeing a growth of 33.9% and a penetration rate of 51.5% [2] - Sales of tablets, energy-efficient air conditioners, massage chairs, and water purifiers increased by 25.8%, 25.2%, 15%, and 11.2% year-on-year, respectively [2]