Stimulate the car consumption policy "one -click three companies"

"China Economic Weekly" reporter Lu Jiangtao | Beijing report

On the last day of May, the Ministry of Finance and the State Administration of Taxation issued the "Announcement on Reducing Partial Vehicle Vehicle Purchase Tax"; the four departments of the Ministry of Industry and Information Technology issued the "Notice on Carrying out the 2022 New Energy Vehicle Going to the Countryside"; "Police policy and measures that stabilize the economy" pointed out that it has stabilized consumption such as automobiles and home appliances. New car purchase restriction measures may not be added in various regions.

This series of stimulating car consumption policies is unprecedented, and a strong heart agent has been given to the sluggish car market. Cui Dongshu, Secretary -General of the Passenger Car Market Information Joint Association, told the reporter of China Economic Weekly that the implementation of many new policies such as purchase tax discounts is expected to promote consumption efforts through 7 months to promote domestic passenger car retail to reach 2100 The scale of 10,000 vehicles is expected to increase by about 2 million vehicles. It is believed that driven by related policies, the passenger car market will quickly recover, which may show a wave of transactions in the second half of the year.

The inclusive policy "unprecedented stimulus"

Mr. Zhou of Beijing was optimistic about a Volvo S90 in May. At that time, I heard that the country may have recently introduced a policy to promote car consumption, so he has not placed an order after talking about the price. Recently, Mr. Zhou went to the 4S store to inquire again. After the purchase tax was reduced by half, it could save about 13,000 yuan. In addition, the car company launched a 5,000 yuan purchase tax subsidy. Only one purchase tax received a total of nearly 18,000 yuan For the discount, he decisively placed the order.

"China Economic Weekly" reporter recently learned from a number of car 4S shops and brand direct stores in Beijing that in order to encourage car consumption, many car companies have begun to deeply tap market demand. Beijing Automobile, Changan Automobile, GAC Trumpchi, SAIC Roewe, Great Wall Motor, Beijing Hyundai, FAW -Volkswagen, and FAW Toyota have issued preferential policies, of which at least 14 brands are based on the national purchase tax halving. A preferential activity of reducing or subsidizing the other half of the purchase tax was launched.

With the implementation of preferential policies, the passenger flow of the car purchase of the car has increased significantly, and the auto market has shown a gradual recovery trend.

In fact, the stimulus of taxation and exemption on sales has precedent. The preferential policies of vehicle purchase tax issued twice in 2009 and 2015 have played a role in driving sales. It is worth noting that the tax reduction policy implemented from June 1 this year has also expanded the scope of application. The price of bicycles (excluding value -added tax) can be enjoyed by 2.0 liters of 2.0 liters and below of no more than 300,000 yuan. The restrictions on the displacement of the first two tax and fees and exemption policies are 1.6 liters and below.

This intensive inclusive policy has made many people in the industry shout "unprecedented stimulation", and at the same time, it is optimistic about the sales of cars this year.

Cui Dongshu said that the policy will drive 2 million new sales. In mid -May, the Federation of Federation predicts that passenger car retail will reach 19 million this year, a year -on -year decrease of 5%. After the policy is introduced, it is expected to reach 21 million units, an increase of 4%year -on -year.

The forecast of the China Automobile Association is basically the same as the Passenger Federation. Chen Shihua, deputy secretary -general of the China Automobile Association, said that last year's 2.0L and below displacement models accounted for 96.8%of the sales. Even 350 billion yuan. The overall driving for car consumption is expected to exceed 500 billion yuan.

CITIC Securities also pointed out in the recent research report that purchase tax reduction is one of the most effective policies to drive car sales. The policy intensity exceeds market expectations. In the short term, it is expected to drive a new demand for passenger vehicles from 1 million to 2 million vehicles. Therefore, the worst time in the automotive industry has passed, and it is expected to continue to improve in the future. Combining the growth of the auto market, it drives the surrounding industries, such as the growth of insurance, decoration, maintenance and other services, and is optimistic about the overall recovery and long -term trend of the automotive industry.

Local subsidy tendency to new energy vehicles

Since the new energy vehicle has been exempted from purchasing taxes before, the reduction of this round of purchase tax is directly facilitating fuel vehicles, and the promotional fee policy for new energy vehicles mainly refers to the car to the countryside.

On May 31, the four departments including the General Office of the Ministry of Industry and Information Technology jointly issued the "Notice on Carrying out the 2022 New Energy Vehicle Going to the Countryside" (hereinafter referred to as the "Notice"), and deployed a new round of new energy vehicles to go to the countryside. 26 car companies including FAW Group, Dongfeng Automobile, Changan Automobile, and a total of 70 new energy models of their 70 new energy models participated in this round of going to the countryside.

The "Notice" pointed out that the four departments encouraged the new energy automobile industry related enterprises to participate in the countryside activities to actively participate in the "Shuangpin Online Shopping Festival" and various online promotion activities organized by each platform to support cooperation with e -commerce and Internet platforms. Live or online car purchase activities attract more consumers to buy through online promotion and other methods.

According to a reporter from China Economic Weekly, this year is the third year of new energy vehicles to go to the countryside. Earlier, in July 2020, the three departments of the Ministry of Industry and Information Technology, the Ministry of Agriculture and Rural Ministry and the Ministry of Commerce jointly issued the "Notice on Carrying out New Energy Vehicles to the Countryside". The rural department, the Ministry of Commerce, and the National Energy Administration issued a notice, and deployed a new round of new energy vehicles to go to the countryside.

According to data from the China Automobile Industry Association, in 2021, the new energy vehicle models have completed a total of 1.068 million vehicles, an increase of 169.2%year -on -year, which is about 10%higher than the overall growth rate of the new energy vehicle market. It is worth noting that compared with previous years, the number of car companies participating in the event this year has increased. In 2021, 18 companies and 52 new energy models participated in the event, while this year increased to 26 companies and 70 new energy models.

In addition, the "Notice" also clearly encourages more localities to introduce more new energy vehicles to the countryside support policies, improve the environment of new energy vehicles, and promote the construction of rural charging and replacement infrastructure. Encourage participating companies in the countryside to develop more reliable, reliable, advanced and applicable models, increase discounts on activities, and strengthen the guarantee of after -sales operation and maintenance services.

At present, some provinces and cities have successively introduced preferential policies for new energy vehicles. For example, Guangdong Province gives a comprehensive subsidy of 8,000 yuan/vehicle for consumer consumers who meet the conditions; the individual consumers who are new energy vehicles that meet the conditions for new purchases and licenses in Shenzhen will be given a maximum of not more than 1 10,000 yuan/vehicle subsidy; Shanghai is a personal consumer subsidy of 10,000 yuan/vehicle replacement of pure electric passenger cars; before the end of 2022, the maximum of giving the highest grant to the purchase of new energy vehicles in accordance with the conditions is not exceeded. 10,000 yuan/vehicle subsidy.

Looking forward to further relaxation of purchase restriction policies

"I really want to buy a car. Even if there is no preferential policy, I want to buy it, but for the Beijing area, there is no license plate number." Ms. Liu, who lives in the suburbs of Beijing The trouble is not to shake the number. Her most hoped to stimulate the car consumption policy is to further relax the purchase restriction.

In this regard, the "A Policy and Measures for the Economy" issued by the State Council is also involved.

This performance and measures include: new automotive purchase restriction measures may be added in various regions, and areas that have been implemented in restricted purchase restrictions have gradually increased the number of vehicle incremental indicators, the qualifications of car purchasers are enacted, and the implementation of urban and suburban indicators differentiation policies are encouraged. Accelerate the introduction of policy documents that promote the transformation of vehicles from purchasing management to the use of management.

In this regard, first -tier cities such as Shanghai and Shenzhen have also given relevant measures. Shanghai proposes that the number of non -business bus licenses will be added during the year; Shenzhen will add 20,000 ordinary car incremental indicators to relax the application conditions for mixed power car indexes.

Recently, as the central and local governments actively introduced the car market stimulus policy and landed one after another, the domestic auto market is showing accelerated recovery trends. According to the latest data from the Federation of Federation, from the third week of May, the domestic narrow passenger car market retail volume of 42,000 units, an increase of 47%month -on -month; from May 1st to May 22nd, the national passenger car market The retail volume was 780,000 units, a year -on -year decrease of 16%, but the decline was narrowed by 22 percentage points from the previous month, an increase of 34%from the previous month.

However, it is worth noting that in the exchanges with a number of consumers who have recently consulted the car, the reporter of China Economic Weekly also found that with the introduction of preferential policies such as the purchase tax reduction, many brands of 4S stores have quietly quietly have quietly quietly. Narch terminal discount amplitude. In a screenshot of the WeChat group in the internal WeChat group that was exposed, the head of the brand store even issued a group notice of "the price of all models, how much it would be added to the purchase tax".

At present, there are many car brands that have been exposed to narrowing terminal discounts. Most of them are joint venture brand models, such as Honda, Toyota, BMW, Mercedes -Benz and some hot -selling brands. Some distributors have similar problems.

However, this is just a few 4S stores, and it does not mean the entire industry. There are still many dealers in response to national policies. After the tax cut, not only did not reduce the discount, but also launched activities including replacement subsidies, manufacturers' discounts, dot coupons, refueling cards, and time -limited delivery.

(This article was published in "China Economic Weekly", No. 12, 2022)

The cover of "China Economic Weekly" in the 12th issue of 2022

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