Old vehicles to be upgraded as mainland China moves to boost domestic consumption

The nation’s new incentive program to boost vehicle replacement demand could have a multifaceted impact on the aftermarket segment.

Mainland China has launched an extensive trade-in scheme to upgrade the stock of automobiles on its roads. The scheme, aimed at urging consumers to replace their old vehicles with new ones, is part of the nation’s efforts to boost investment and consumption and reduce energy consumption and emissions.