The 2024 Shanghai Summer Auto Shopping Festival's launch ceremony features nearly 70 car models from brands like SAIC Volkswagen, BMW, and Mercedes-Benz, along with second-hand luxury cars and antique vehicles. [Photo/jiading.gov.cn]
As part of the inaugural Shanghai Summer International Consumption Season, the 2024 Shanghai Summer Auto Shopping Festival was launched at the Life Hub plaza in Jiading district, Shanghai, on Aug 1.
The festival, running until the end of October, aims to boost automotive consumption. During the launch of the festival, the Shanghai Municipal Commission of Commerce introduced new policies, including national and local subsidies for trading in old vehicles. Consumers can receive up to 10,000 yuan ($1,399.41) for purchasing new electric cars and up to 4,000 yuan for new gasoline cars, depending on the old vehicle's emission standards.
Jiading district also revealed its own incentives. From Aug 1 to 8, individual consumers buying passenger vehicles priced at 50,000 yuan or more can claim a 1,000 yuan subsidy, with a one-time limit per person. Additionally, buyers will enjoy a year of free parking at the Life Hub.