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Ministry of Commerce: In the first quarter of 2026, sales from the replacement of old consumer goods exceeded 430 billion yuan
According to the Ministry of Commerce, from January to March this year, sales from the replacement of old consumer goods exceeded 433.17 billion yuan, benefiting 60.93 million people. Specifically, the sales from old-to-new car exchanges reached 228.69 billion yuan. From January to March, a total of 1.41M subsidy applications for car exchanges were received, driving new car sales of 228.69 billion yuan. Among them, 403k scrap replacement subsidy applications generated 51.96 billion yuan in sales; 403k replacement subsidy applications drove 176.73 billion yuan in sales. Sales of old-to-new home appliances, digital, and smart products reached 204.48 billion yuan. From January to March, a total of 1M units of six categories of home appliances, digital, and smart products were sold through exchanges, generating 204.48 billion yuan in sales. Among them, 59.53M units of home appliances were sold through exchanges, driving 95.43 billion yuan in sales; 36.32 million units of digital and smart products were sold, generating 109.05 billion yuan in sales. (Securities Times)