超20个地市已暂停或调整汽车国补

Core Viewpoint - The article discusses the impact of the government's subsidy program for vehicle trade-ins on the automotive market in China, highlighting adjustments in subsidy policies and their effects on consumer behavior and market dynamics [4][5]. Group 1: Subsidy Program Overview - The central government issued a total of 300 billion yuan in special bonds to support consumer goods trade-ins, including vehicle trade-ins and scrappage [4]. - The subsidy funds were distributed quarterly, with 81 billion yuan allocated in January, 81 billion yuan in April, 69 billion yuan in July, and 69 billion yuan in October [4]. Group 2: Market Impact - Over the first 11 months of the year, the trade-in program generated over 2.5 trillion yuan in sales, benefiting more than 360 million people, with over 11.2 million vehicles traded in [5]. - The trade-in vehicles accounted for over one-third of total vehicle sales, which were estimated to be nearly 30 million units during the same period [5]. - Adjustments in subsidy policies have led to a decrease in market momentum compared to the previous year, with many provinces experiencing varying degrees of policy tightening [5][6]. Group 3: Future Outlook - The continuation of the trade-in policy into 2026 remains uncertain, with some provinces raising the thresholds for scrappage and trade-in subsidies [6]. - Despite the tightening of policies, the overall outlook for the new energy vehicle sector remains positive due to expected adjustments in purchase tax and year-end promotions from automakers [6].