多地暂停汽车国补

Core Viewpoint - The recent suspension of the "old-for-new" vehicle subsidy across multiple regions in China is a strategic adjustment by local governments to manage the annual subsidy budget effectively, rather than a reduction in support for the automotive industry [1][2][7]. Group 1: Policy Changes - Various regions, including Jiangsu and Zhejiang, have announced the suspension of their vehicle "replacement and update" subsidies, with specific deadlines set for different areas [2][3]. - The Guangzhou government has also adjusted its vehicle "replacement and update" policy, with a deadline for subsidy applications set for September 30, 2025 [3]. Group 2: Financial Support - The National Development and Reform Commission (NDRC) has allocated a total of 300 billion yuan in special bonds to support the "old-for-new" vehicle program, with the latest batch of 69 billion yuan recently distributed to local governments [4][7]. - The total number of applications for the "old-for-new" vehicle program reached 8.3 million as of September 10, 2025, indicating strong consumer interest [7]. Group 3: Market Impact - Automotive dealers express concerns that the suspension of subsidies may negatively impact sales, particularly for certain models that consumers are currently considering [8]. - The suspension of the subsidy may lead to a decline in sales, as some sales may have been anticipated based on the availability of these subsidies [8].