Automobile dealers join the 鈥楽hanghai Summer鈥 frenzy
Print Edition
An auto shopping festival kicked off at Life Hub@Anting in suburban Jiading District on August 1 as the city鈥檚 latest consumption-driven strategy placed the focus on one of its major industries 鈥 the automobile business.
Auto dealers in districts such as Baoshan, Songjiang, Putuo and the Pudong New Area are offering combination packages that include local tourism attractions, museums and theaters. These packages are promoted through advertising campaigns that will continue until the end of October, as part of the ongoing 鈥淪hanghai Summer鈥 International Consumption Season.
During the launch ceremony, about 70 models, including SAIC Volkswagen, Jiyue and Nio, as well as vintage caravans, were on display at the Anting mall, while leisure activities and street bazaars were held to attract car purchasers.
According to the city鈥檚 latest auto consumption promotion plan, people trading in their vehicles for pure electric models can receive a 10,000 yuan (US$1,370) subsidy, in addition to the nationwide subsidy of up to 10,000 yuan.
Earlier forecasts showed that second-hand vehicle transactions in Shanghai will increase 50 percent to 900,000 units and used car exports double to 15,000 units in 2027 from 2023.
According to Shanghai Commerce Commission Deputy Director Liu Min, as vehicle consumption enters a new period of transformation and upgrade, the market environment should also be optimized with new product and service models.
The three-year action plan, which was unveiled in July, focuses on three primary areas: stimulating demand through incentives, innovating second-hand car circulation and upgrades, and optimizing the market environment.
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