Auto dealers join the 'Shanghai Summer' frenzy

Shanghai's latest consumption-driven strategy focuses on one of its major industries, the automobile business, and aims to fully use leisure activities and street bazaars to attract car purchasers.

Auto dealers in the Baoshan, Songjiang, and Minhang districts are offering combination packages for local tourism attractions, museums, and theaters, with advertising campaigns running through October as part of the "Shanghai Summer" International Consumption Season.

During Thursday's Auto Shopping Festival in Jiading District, about 70 models, including SAIC Volkswagen, Jiyue, and Nio, as well as vintage caravans, were on display at the auto bazaar.

According to the city's auto consumption promotion plan, people who trade in for pure electric vehicles can receive a 10,000 yuan (US$1,370) subsidy, in addition to the nationwide subsidy of up to 10,000 yuan.

The program also anticipates that the number of second-hand vehicle transactions in Shanghai will reach 900,000 units by 2027, up 50 percent from 2023, and that the number of used car exports will double to 15,000 units in 2027 from 2023 levels.

According to Shanghai Commerce Commission Deputy Director Liu Min, as vehicle consumption enters a new period of transformation and upgrade, the market environment must also be optimized with new product and service models.

The three-year action plan, unveiled last month, focuses on three primary areas: stimulating demand through incentives, innovating second-hand car circulation and upgrades, and optimizing the market environment.