In the first quarter of this year, the sales revenue from trade-in and upgrade of consumer goods exceeded 430 billion yuan.

People’s Finance News, April 3. On April 3, a reporter from Securities Times learned from the Ministry of Commerce that from January to March this year, sales of consumer goods under the “trade-in for upgrades” program exceeded 433.17 billion yuan, benefiting 60.93M person-times. Specifically, sales of cars under the trade-in for upgrades program reached 228.69 billion yuan. From January to March, a total of 1.41M subsidy applications were received for the trade-in for upgrades of cars, driving new car sales of 228.69 billion yuan. Of these, 403k applications for scrappage and replacement subsidies were received, driving sales of 51.96 billion yuan; 1M applications for replacement and upgrade subsidies were received, driving sales of 176.73 billion yuan. Sales of home appliances under the trade-in for upgrades program, as well as purchases of digital and smart products, reached 204.48 billion yuan. From January to March, the six categories of home appliances under the trade-in for upgrades program and purchases of digital and smart products sold a total of 59.53M units, driving sales of 204.48 billion yuan. Among them, 23.21M units of home appliances under the trade-in for upgrades program were sold, driving sales of 95.43 billion yuan; 36.32M units of newly purchased digital and smart products were sold, driving sales of 109.05 billion yuan.