For a long time, China has implemented many "restricted" policies. The policy-oriented significance of the 6 billion yuan subsidy will be greater than boosting consumption.
A few days ago, the executive meeting of the State Council decided that during the "12th Five-Year Plan" period, 6 billion yuan will be allocated to support the promotion of 1.6-liter or lower displacement energy-saving vehicles. The Chongqing Municipality has started a subsidy policy for small-displacement vehicles. The rural population of the city purchases minivans with a displacement of 1.6 liters or less, and light and minivans with a carrying capacity of no more than 6 tons produced by the administrative jurisdiction. The 6% of the price will be subsidized, and the maximum will not exceed 3,000 yuan.
Since last year's auto purchase tax was halved, autos went to the countryside, old-fashioned replacements and other policies were withdrawn, the market share of small-displacement vehicles has been declining. The new policy for bailout can be described as “long drought and rainy days†for the small-displacement vehicle market in distress. Some people have questioned whether, in the current circumstances, do we need policies to rescue the market or guide structural adjustment?
In the first five months, sales of small-displacement vehicles fell by 0.7 percentage points. Low- and middle-income groups are more sensitive to vehicle costs. According to the latest statistics from the China Association of Automobile Manufacturers, from January to May, sales of cars with 1.6 liters and below were 3.0624 million, a year-on-year increase. The increase was 3.4%, the first positive increase since this year. At the same time, the proportion of sedan cars with 1.6 liters or less is 70.5% of the total number of cars, a decrease of 0.7 percentage points from the same period of last year. As domestic independent brands are mainly concentrated in the small-displacement automotive sector, the large fluctuations in the small-displacement automobile market will inevitably drag on the development of self-owned brands. In the first five months of this year, the self-owned brand of passenger cars sold a total of 2,652,400 units, a year-on-year decrease of 2.10%, accounting for 41.90% of the total passenger car sales, and the occupancy rate decreased by 3.25 percentage points year-on-year.
The small-displacement car market has always been the most sensitive market for policy and price changes. In 2011, after the relevant preferential policies such as purchase tax reduction and exemption were withdrawn, the sales of passenger cars with 1.6 liters and below were 9.8452 million, an increase of only 4.06% year-on-year, a decrease of 27.04 percentage points from the previous year. It is worth noting that the impact of the increase in energy-saving vehicle subsidy standards since October last year has had a significant impact on small-displacement vehicles. In the previous nine months, the monthly sales of passenger cars with 1.6 liters or less were higher than the total sales growth of passenger cars in the same period. From October onwards, the sales volume was lower for three consecutive months than in the same period of last year.
Dong Yang, executive vice president of the China Association of Automobile Manufacturers, said that due to the cancellation of preferential policies, the product structure has undergone adverse adjustments. Sales volume of 1.6-liter and lower emission vehicles have been not optimistic this year.
In this regard, Lang Fuhong, deputy general manager of EF International Consulting (Beijing) Co., Ltd., believes that the main consumers of the small-displacement vehicle market are low- and middle-income people. Their inflation pressures, rising oil prices, and parking fees, etc. The increase is more sensitive. Under the background of the deceleration of economic growth this year and the cancellation of preferential policies, low- and middle-income people are likely to be in a wait-and-see attitude of holding money for purchase. "In addition, China's auto market in the past two years of consumption upgrade is more obvious, more than half of the new car consumer groups is the second-time car buyers, most of these people will be aimed at the high-end car market." Lang Xuehong said.
The “Limited†policy makes the domestic small-displacement vehicle technology a far cry from foreign ones. The low profit of bicycles also makes auto companies unwilling to invest 6 billion yuan in energy-saving auto subsidy funds, providing funds for new energy-saving vehicle subsidy policies. From now on, the 6 billion yuan subsidy budget will be spent in the next two and a half years. If we continue to calculate the subsidy amount of 3,000 yuan for each energy-saving vehicle, the 6 billion yuan will only be enough to subsidize 2 million energy-saving vehicles. The industry generally believes that the guiding significance of the 6 billion yuan subsidy policy is more significant than boosting consumption.
For a long time, China has implemented many "restricted-small" policies. There is a big gap between domestic small-displacement car technologies and Europe and Japan. In addition, the profit of bicycles for small-displacement vehicles is too low to increase production and increase profitability. Automobile manufacturers are reluctant to invest too much money in the development of high-quality small-displacement vehicles. Taking October 1st last year as an example to increase the subsidy for China's energy-saving vehicles, the number of vehicles that meet the subsidy standard has been sharply reduced from 433 to 49, and 90% of the models have been eliminated. This also means that companies need to accelerate their innovation in energy-saving technologies. In addition, the psychological needs of the Chinese people for a long period of time are still in the mainstream, and small-displacement vehicles have long been “not to be seenâ€.
The sales volume of small-displacement vehicles is also affected by the policy. From January 2006, China began to implement the “Opinions on Encouraging the Development of Energy-saving and Environment-friendly Small-displacement Vehicles†and cancelled 84 cities such as Beijing and Guangzhou to restrict the use of small-displacement vehicles. Since 2009, the government has introduced incentive packages such as the purchase tax of 1.6 liters and below and the package of subsidies for cars to the countryside and energy-saving cars. Under the stimulation of multiple preferential policies, China’s small-displacement cars have finally reached a rare spring. . Statistics from the China Association of Automobile Manufacturers show that in 2009, the sales of passenger cars with 1.6 liters or less in China were nearly 7.2 million, a year-on-year increase of more than 70%, and the proportion of passenger cars accounted for 8 percent more than in 2008. The preferential tax rate for purchase tax has been reduced since 2010, and the year-on-year growth rate of small-displacement vehicles has also slowed, but it is still at a high level.
With high oil prices and environmental deterioration, the development of small-displacement vehicles is imperative. More supportive policies should be introduced. From the perspective of the experience and status quo in Europe, Japan, and other developed countries, low fuel consumption and small-displacement small cars have become social consumption. The mainstream. In Europe, small displacement vehicles with a displacement of less than 1.0 liters account for about 35% of total vehicle sales. In Japan, the market share of small-displacement vehicles under 0.6 liters is more than 60%.
Although China's automobile industry has developed rapidly in recent years, the disadvantages of the unreasonable structure of the auto industry have gradually emerged. Under the premise that the current high oil prices and environmental protection problems are increasingly prominent, the popularization of new energy vehicles will take time, and the development of small-displacement, low-fuel consumption vehicles is imperative. "The government will not introduce a policy of stimulating auto consumption. Instead, it should introduce a policy to encourage self-development and support the development of small-displacement vehicles as early as possible," Dong Yang said.
Encouraging the purchase of small-displacement cars should be a long-term policy. A senior automotive analyst believes that the government must first develop a unified standard for small-displacement vehicles and encourage companies to increase their investment in technology research and development for small-displacement vehicles. Second, in the sales and use of links through the reduction of taxes and fees on small-displacement vehicles and other means to support, such as consumption tax, bridge tolls, parking fees, vehicle inspection fees and other aspects of the implementation of the policy of exemption of small-displacement vehicles. In addition, government bus purchases should also be tilted toward small-displacement vehicles.
Xu Changming, director of the Information Resources Development Department of the State Information Center, believes that it is not necessary for the government to fully initiate the consumption stimulus measures similar to the "Auto Industry Adjustment and Revitalization Plan" issued in 2009. Instead, it should introduce some structural incentives to support the development of small-displacement vehicles. .
A few days ago, the executive meeting of the State Council decided that during the "12th Five-Year Plan" period, 6 billion yuan will be allocated to support the promotion of 1.6-liter or lower displacement energy-saving vehicles. The Chongqing Municipality has started a subsidy policy for small-displacement vehicles. The rural population of the city purchases minivans with a displacement of 1.6 liters or less, and light and minivans with a carrying capacity of no more than 6 tons produced by the administrative jurisdiction. The 6% of the price will be subsidized, and the maximum will not exceed 3,000 yuan.
Since last year's auto purchase tax was halved, autos went to the countryside, old-fashioned replacements and other policies were withdrawn, the market share of small-displacement vehicles has been declining. The new policy for bailout can be described as “long drought and rainy days†for the small-displacement vehicle market in distress. Some people have questioned whether, in the current circumstances, do we need policies to rescue the market or guide structural adjustment?
In the first five months, sales of small-displacement vehicles fell by 0.7 percentage points. Low- and middle-income groups are more sensitive to vehicle costs. According to the latest statistics from the China Association of Automobile Manufacturers, from January to May, sales of cars with 1.6 liters and below were 3.0624 million, a year-on-year increase. The increase was 3.4%, the first positive increase since this year. At the same time, the proportion of sedan cars with 1.6 liters or less is 70.5% of the total number of cars, a decrease of 0.7 percentage points from the same period of last year. As domestic independent brands are mainly concentrated in the small-displacement automotive sector, the large fluctuations in the small-displacement automobile market will inevitably drag on the development of self-owned brands. In the first five months of this year, the self-owned brand of passenger cars sold a total of 2,652,400 units, a year-on-year decrease of 2.10%, accounting for 41.90% of the total passenger car sales, and the occupancy rate decreased by 3.25 percentage points year-on-year.
The small-displacement car market has always been the most sensitive market for policy and price changes. In 2011, after the relevant preferential policies such as purchase tax reduction and exemption were withdrawn, the sales of passenger cars with 1.6 liters and below were 9.8452 million, an increase of only 4.06% year-on-year, a decrease of 27.04 percentage points from the previous year. It is worth noting that the impact of the increase in energy-saving vehicle subsidy standards since October last year has had a significant impact on small-displacement vehicles. In the previous nine months, the monthly sales of passenger cars with 1.6 liters or less were higher than the total sales growth of passenger cars in the same period. From October onwards, the sales volume was lower for three consecutive months than in the same period of last year.
Dong Yang, executive vice president of the China Association of Automobile Manufacturers, said that due to the cancellation of preferential policies, the product structure has undergone adverse adjustments. Sales volume of 1.6-liter and lower emission vehicles have been not optimistic this year.
In this regard, Lang Fuhong, deputy general manager of EF International Consulting (Beijing) Co., Ltd., believes that the main consumers of the small-displacement vehicle market are low- and middle-income people. Their inflation pressures, rising oil prices, and parking fees, etc. The increase is more sensitive. Under the background of the deceleration of economic growth this year and the cancellation of preferential policies, low- and middle-income people are likely to be in a wait-and-see attitude of holding money for purchase. "In addition, China's auto market in the past two years of consumption upgrade is more obvious, more than half of the new car consumer groups is the second-time car buyers, most of these people will be aimed at the high-end car market." Lang Xuehong said.
The “Limited†policy makes the domestic small-displacement vehicle technology a far cry from foreign ones. The low profit of bicycles also makes auto companies unwilling to invest 6 billion yuan in energy-saving auto subsidy funds, providing funds for new energy-saving vehicle subsidy policies. From now on, the 6 billion yuan subsidy budget will be spent in the next two and a half years. If we continue to calculate the subsidy amount of 3,000 yuan for each energy-saving vehicle, the 6 billion yuan will only be enough to subsidize 2 million energy-saving vehicles. The industry generally believes that the guiding significance of the 6 billion yuan subsidy policy is more significant than boosting consumption.
For a long time, China has implemented many "restricted-small" policies. There is a big gap between domestic small-displacement car technologies and Europe and Japan. In addition, the profit of bicycles for small-displacement vehicles is too low to increase production and increase profitability. Automobile manufacturers are reluctant to invest too much money in the development of high-quality small-displacement vehicles. Taking October 1st last year as an example to increase the subsidy for China's energy-saving vehicles, the number of vehicles that meet the subsidy standard has been sharply reduced from 433 to 49, and 90% of the models have been eliminated. This also means that companies need to accelerate their innovation in energy-saving technologies. In addition, the psychological needs of the Chinese people for a long period of time are still in the mainstream, and small-displacement vehicles have long been “not to be seenâ€.
The sales volume of small-displacement vehicles is also affected by the policy. From January 2006, China began to implement the “Opinions on Encouraging the Development of Energy-saving and Environment-friendly Small-displacement Vehicles†and cancelled 84 cities such as Beijing and Guangzhou to restrict the use of small-displacement vehicles. Since 2009, the government has introduced incentive packages such as the purchase tax of 1.6 liters and below and the package of subsidies for cars to the countryside and energy-saving cars. Under the stimulation of multiple preferential policies, China’s small-displacement cars have finally reached a rare spring. . Statistics from the China Association of Automobile Manufacturers show that in 2009, the sales of passenger cars with 1.6 liters or less in China were nearly 7.2 million, a year-on-year increase of more than 70%, and the proportion of passenger cars accounted for 8 percent more than in 2008. The preferential tax rate for purchase tax has been reduced since 2010, and the year-on-year growth rate of small-displacement vehicles has also slowed, but it is still at a high level.
With high oil prices and environmental deterioration, the development of small-displacement vehicles is imperative. More supportive policies should be introduced. From the perspective of the experience and status quo in Europe, Japan, and other developed countries, low fuel consumption and small-displacement small cars have become social consumption. The mainstream. In Europe, small displacement vehicles with a displacement of less than 1.0 liters account for about 35% of total vehicle sales. In Japan, the market share of small-displacement vehicles under 0.6 liters is more than 60%.
Although China's automobile industry has developed rapidly in recent years, the disadvantages of the unreasonable structure of the auto industry have gradually emerged. Under the premise that the current high oil prices and environmental protection problems are increasingly prominent, the popularization of new energy vehicles will take time, and the development of small-displacement, low-fuel consumption vehicles is imperative. "The government will not introduce a policy of stimulating auto consumption. Instead, it should introduce a policy to encourage self-development and support the development of small-displacement vehicles as early as possible," Dong Yang said.
Encouraging the purchase of small-displacement cars should be a long-term policy. A senior automotive analyst believes that the government must first develop a unified standard for small-displacement vehicles and encourage companies to increase their investment in technology research and development for small-displacement vehicles. Second, in the sales and use of links through the reduction of taxes and fees on small-displacement vehicles and other means to support, such as consumption tax, bridge tolls, parking fees, vehicle inspection fees and other aspects of the implementation of the policy of exemption of small-displacement vehicles. In addition, government bus purchases should also be tilted toward small-displacement vehicles.
Xu Changming, director of the Information Resources Development Department of the State Information Center, believes that it is not necessary for the government to fully initiate the consumption stimulus measures similar to the "Auto Industry Adjustment and Revitalization Plan" issued in 2009. Instead, it should introduce some structural incentives to support the development of small-displacement vehicles. .
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