The United States Set off a Tide of "Double Counterattacks" in China
US time On June 12, 2015, the US Department of Commerce issued anti-dumping and anti-subsidy final rulings on China's passenger car and light truck tires , and determined that there are dumping and subsidies for Chinese tires exported to the United States.
Obama Announces Imposing Punitive Duties on China's Import of American Tires
The final anti-dumping rate of the US Department of Commerce (not deducted) was 14.35% to 87.99%, of which the mandatory responding companies Giticom and the races were taxed at rates of 29.97% and 14.35%, respectively, and the rate of dumping companies was 25.30%. The national tax rate is 87.99%; the countervailing duty rate (not deducted) is 20.73% to 100.77%, of which the compulsory responding companies Jiatong (Fujian) and Cooper (Kunshan) have obtained 37.20% and 20.73% respectively, and the national tax rate is 30.87%.
Shandong Yongsheng won 87.99% of the national tax rate in the anti-dumping investigation due to withdrawing from the survey, and obtained a punitive tax rate of 100.77% in the anti-subsidy investigation.
It is understood that a total of 85 companies applied for separate tax rates, 65 companies obtained separate tax rates, and 25 companies were refused separate tax rates.
The US Department of Commerce finalized the merger of anti-dumping and anti-subsidy margin rates, with 30.61% for the competition, 51.33% for Jiatong, and 28.91% for Cooper, with 38.79% for the tax rate, 107.07% for the national tax rate, and 176.83% for Shandong Yongsheng.
Refused to give 6 state-owned enterprises anti-dumping rates; also refused to give 4 companies that failed to prove that they were not controlled by the government to separate rates; refused to give 3 companies that did not ship during the investigation period to separate rates; refused to give 2 The tax rates of the companies are separately announced.
These companies received a national tax rate of 87.99% because their tax rate applications were rejected.
Domestic and foreign tire companies started to fall to low levels
In 2015, the tire market was difficult to operate. China's economic growth slowed down, official GDP data broke “7â€, and the global economic recovery was weak.
Against such a backdrop, the “double reverse†US passenger and light truck tyres survey in China that began in 2014 caused the Chinese semi-steel tyres US export window to close, completely highlighting the capacity caused by the blind expansion of the Chinese tire market. Question of excess.
From the second half of 2014 to the first half of 2015, domestic tire companies have adopted measures such as layoffs, salary cuts, price cuts, and reductions in start-ups to reduce costs, control inventories, and increase sales. The banking industry is also deeply impressed by the crisis in the tire market, which has reduced tire companies. With regard to loans, the conditions for examination and approval have become more stringent, and the time limit for repayment has become more compact. Internal and external problems have prompted some tire factories to be closed.
After a period of adjustment of about one year, tire companies have basically gone through the pre-construction phase. In the second half of 2015, although the start-up of tire companies was slightly adjusted with seasonal factors, it was basically at a low level and stable.
The overall tire market was difficult to reach 70% in the whole year, down by about 10% from last year, and tire companies were operating in tough conditions.
China National Chemical Group acquires Pirelli
On August 5th, China National Chemical Industry Group stated that Camfin (Pirelli's largest shareholder) and Pirelli deal will be completed on August 11. China National Chemical Corporation stated that the regulatory agency has approved Pirelli deal. China National Chemical Industry Group will bid for the remaining shares of Pirelli after the Camfin transaction is completed.
As early as March 23, 2015, China National Chemical Corporation has issued a statement that it will acquire 26.2% of Pirelli, the world’s fifth-largest tire maker, through China National Chemical Rubber Corporation, and the transaction amount will reach US$7.7 billion. China National Chemical Corporation will become Pirelli’s largest shareholder.
However, the attitude of the European Union’s anti-monopoly regulators was not yet clear. In July this year, the European Union’s anti-monopoly regulator announced that the European Union had approved China Chemical to enter into a deal with Italian tire manufacturer Pirelli for US$7.7 billion.
The strength of enterprises to build factories in Southeast Asia to become the first choice
Half of China's tires are sold domestically, half of them are exported, and one-third of them are exported to the United States. The US “double reverse†survey on Chinese passenger car and light truck tires has basically closed the window of semi-steel tires exported to the United States by domestic tire companies.
The obstruction of foreign sales will undoubtedly worsen the weak domestic market. In order to break the current stalemate, foreign construction has become a way to break international trade barriers.
Qingdao Shuangxing set up a plant in Kazakhstan and double money to build a plant in the United States. Southeast Asia has become a fragrant enterprise where many domestic companies set up factories overseas. The racing wheel Jinyu Group established a factory in Vietnam and Qingdao Sen Kirin built a factory in Thailand. The factory was established in Thailand. Shandong Ogori built a joint venture with the Oriental Group in Indonesia.
Investment in Southeast Asia is relatively small, with China's geographical proximity, cheap human resources, close to natural rubber production areas and other favorable factors to promote Southeast Asia to become the focus of Chinese tire companies to build overseas plants.
Composite rubber new standard implementation tire factory from panic to relief
On July 1, 2015, the new standard for compound rubber was formally implemented.
Before and after the implementation of the standard caused the tire factory panic. The tire industry has entered a downturn since 2014, and tire prices have fallen and fell again. Under such circumstances, the implementation of the new standard of compound rubber will undoubtedly increase the cost pressure on tires. Even large-scale rubber companies in Southeast Asia have rumors that they will not increase the production of Chinese-specific standards. Composite rubber, tire companies resist strong emotions.
After the implementation, after a period of transition, tire companies have demonstrated their powers. Some tire companies have set up factories abroad, some have used small quantities of natural rubber instead of composite rubber, and they have been following “a mixture of natural rubber and synthetic rubber (Tax Code 40028000)â€. In the circulation on the market, the problems brought about by the new standard of compound rubber are basically controlled, and the impact on tire companies is not as great as expected.
Car purchase tax halved in sales growth year-on-year
From October 1, 2015 to December 31, 2016, vehicle purchase tax will be levied at a reduced rate of 5% for purchase of passenger cars with a displacement of 1.6 liters or less.
In 2015, the Chinese auto market changed gradually from rapid increase to gradual decline. From April to July, it fell for the fourth consecutive month, even from January to September compared with last year. The “growth†seems to be a joke.
The stagnation of sales growth will inevitably bring about more intense competition. The company's price cuts and production cuts have become the most commonly used means of self-protection. Even joint-venture car companies that have always been prosperous have been unable to stand alone.
This year, China's economic slowdown has become more pronounced. The stock market has fluctuated sharply, and the real economy has been sluggish. In addition, the market conditions of the developed coastal cities in the recent years are high, and the slowdown in demand growth is inevitable. With the increasing number of models, increasingly cheaper prices, increasingly advanced technologies, and increasingly higher quality, consumer choice continues to increase. Correspondingly, the competition among car companies is also becoming increasingly fierce. This has caused the panic of the market to spread.
Against this background, "half the purchase tax of 1.6 or less displacement" has been given the task of holding up the Chinese auto market.
In October, China's auto sales volume was 2,221,600 units, an increase of 9.72% from the previous period and a year-on-year increase of 11.8%, which was the highest month-on-year increase during the year. From January to October, China’s cumulative sales of automobiles reached 19,279,100 units, a year-on-year increase of 1.5%.
The production and sales of new energy vehicles rapidly increase new growth points in the automotive industry
Accompanied by consumers' increasing awareness of new energy vehicles, the new energy automobile market has gradually warmed up, becoming a bright spot in the automotive market, which is gradually losing momentum.
According to statistics from China National Automobile Association, in October, new energy vehicles produced 36,494 units and sold 34,136 units, an increase of 4.2 times and 5 times year-on-year. The production and sales of pure electric vehicles completed 27,639 and 26,193 vehicles, respectively, an increase of 6.5 times and 9.2 times over the same period of last year; the production and sales of plug-in hybrid vehicles completed 8,855 vehicles and 8,123 vehicles, respectively, an increase of 1.7 times and 1.6 times year-on-year respectively. Pure electric vehicles sold more than three times as many as plug-in cars, accounting for 76% of the total sales of new energy vehicles.
From January to October, the cumulative production of new energy vehicles was 181,225, and sales of 171,145 were increased by 2.7 times and 2.9 times respectively. The cumulative production and sales of pure electric vehicles were 121,099 and 113,810, respectively, a year-on-year increase of 3.3 times and 3.9 times respectively; the cumulative production and sales of plug-in hybrid vehicles were 60,126 and 57,335, respectively, an increase of 1.9 times and 1.8 times year-on-year.
Volkswagen "Test Door" leads the auto industry scandal
On September 18, 2015, the U.S. Environmental Protection Agency accused some of the vehicles sold by Volkswagen AG of Germany in installing special software for tail gas emission detection to identify whether the car was in a detected state and then regulate the emissions.
As a result, these vehicles can pass “high environmental protection standards†during vehicle inspections, but they emit large amounts of pollutants in normal use, up to 40 times the US legal standard.
According to U.S. law, the maximum amount of fines the public may theoretically face is 18 billion U.S. dollars. In 2014, Volkswagen’s global profit was only 11.4 billion U.S. dollars.
On September 21, Volkswagen’s share price plummeted by more than 20%, creating the largest single-day decline, with a market value loss of approximately 15 billion euros (about 16.9 billion US dollars).
On September 22, Volkswagen stated that it will accrue 6.5 billion euros in the third quarter of this year. Around 11 million Volkswagen cars worldwide will be affected by informal software. This year's earnings will be lower than expected, and the company is currently working hard to solve the problem. . After the statement was announced, Volkswagen's share price fell by 20% after falling 18% on the 21st.
On September 23, Volkswagen's CEO Winter Cohen announced that he had resigned in response to a popular public "detection door" incident.
The German, American, and Japanese systems have always been the leaders of the global automotive market. The competition between them is fierce. The public "detection door" incident and "Made in Germany" suffered an unprecedented crisis of confidence. The German automobile sales situation is bound to After being severely hit, "How many people" has been unable to describe the mood of German cars.
As a competitor, the American and Japanese cars are "how much happy", and the loss of the German car market will surely cause a division of the market cake, which is aggravated by the precarious automobile market.
Hujiao fell to 10,000 points since the beginning of 2009
In 2015, the trend of Hujiao declining all the way from 2011 has not been shaken off. Although there was a wave of rebound in April-May, some market participants believe that Hujiao will bottom out, but the subsequent June began to fall sharply. , And to late mid-November, has fallen to close to 10,000 points, creating a seven-year low since 2009.
The declining trend of Hujiao is, on the one hand, hampered by the sluggish domestic and international environment, a series of macroeconomic problems such as poor economic data, and the weaker downstream market demand.
While the supply volume is still increasing steadily, the demand is far behind the supply rate, causing a sharp contradiction between supply and demand, which in turn leads to a bearish suppression of the natural rubber trend.
Tianjin Automobile Industry Losses RMB 3 Billion on August 12 Event
At 23:30 on August 12th, the dangerous goods warehouse of Ruihai Company in Tianjin Binhai New Area exploded, causing heavy casualties, and the loss of imported automobiles was also rather heavy.
Tianjin Port is an important vehicle import port in China. In 2014, the total vehicle throughput was 1.035 million, and the annual auto imports accounted for more than 55% of the country's total.
Suddenly, this explosion occurred. About 400 meters from the explosion center was the imported car parking lot. Nearly 6,000 new cars were parked in this nearly six football field parking lot, and one-sixth of them were completely burned. The car park turned into a car cemetery overnight.
The vehicles damaged by the explosion involved vehicles imported by the public, Renault, Toyota, Honda, and Mitsubishi.
It is reported that Volkswagen lost 391 Beetles, 690 Motors, UP 84, Golf Travel Edition 114, Magotan 28, Sports Van 39, Tiguan 257, Touareg 1065, estimated to burn 2,748. It is estimated that the cumulative loss of all branded cars will exceed 3 billion yuan.
The loss of large quantities of imported cars will cause manufacturers to adjust future production plans and look for ports that will take over from Tianjin Port in the future. Although thousands of imported cars account for a small part of the monthly imports of around 100,000 vehicles, they do not Booking customers will not be able to pick up cars on time, and may cause some models to increase sales due to shortage of supplies.
GDP dropped below "7" for the first time in six years
China's economic growth rate in the third quarter fell to the lowest level since the financial crisis, and fell below "7" for the first time in six years.
According to data released by the Statistics Bureau, China's GDP in the third quarter increased by 6.9% year-on-year, the lowest level in the first quarter of 2009.
From a quarterly perspective, the first quarter increased by 7.0% year-on-year, the second quarter by 7.0%, and the third quarter by 6.9%.
In terms of sub-industries, the primary industry added value was 3.9195 trillion yuan, an increase of 3.8% year-on-year; the secondary industry added value was 1977.99 billion yuan, an increase of 6.0%; the tertiary industry added value was 2507.7 billion yuan, an increase of 8.4%.
From a quarter-on-quarter perspective, GDP growth in the third quarter was 1.8%.
From the perspective of reasons, the recovery of the world economy is less than expected. China is still at a critical stage of structural adjustment. Traditional industries not only destock, but also actually go to capacity.
In the short term, downward pressure on industry is the result of both domestic and foreign factors.
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