Every reporter: Huang Xinxu Every editor: Sun Lei
In March and April this year, the epidemic affected automobile production and consumption in some areas. Under this circumstance, at the end of May this year, after the Ministry of Finance and the State Administration of Taxation launched a "gift package" of 60 billion yuan in car purchase tax discounts, local governments responded actively and successively introduced automobile consumption policies to promote automobile consumption, allowing the automobile industry in some areas to resume work and production in the short term.
In June 2022, Nanjing, Jiangsu, the local new energy and smart car exhibition was held to promote automobile consumption and attracted attention Visual China Figure
Overall, "increasing support for new energy vehicles " and "increasing car purchase indicators in purchase-restricted cities" are the two major features of policies issued by various places to promote automobile consumption.
Specifically, Beijing issued the "Implementation Plan for Coordinating Epidemic Prevention and Control and Stabilizing Economic Growth in Beijing" in June, proposing to vigorously promote the bulk consumption of automobiles and other products. By the end of 2022, eligible "old-for-new" purchases of new energy passenger cars will be given a subsidy of up to 10,000 yuan per vehicle. Prior to this, Beijing’s 70,000 new energy passenger vehicles in 2022 have been fully deployed.
The "Shanghai Action Plan to Accelerate Economic Recovery and Revitalization" issued by Shanghai proposes that before December 31, 2022, individual consumers who scrap or transfer passenger cars that are registered in Shanghai and meet relevant standards and purchase pure electric vehicles will be given a financial subsidy of 10,000 yuan per vehicle. It is worth noting that in addition to the replacement subsidy for launched by Shanghai, Shanghai Jiading District has also increased car purchase subsidies: a subsidy of 10,000 yuan for cars with a price below 150,000 yuan, and a subsidy of 20,000 yuan for cars with a price above 150,000 yuan.
Shenzhen promulgated the "Several Measures of Shenzhen City to Promote the Sustained Recovery of Consumption", proposing to provide individual consumers with newly purchased new energy vehicles with a subsidy of up to 10,000 yuan per vehicle. Jiangxi uses the car lottery method to stimulate car consumption. The total prize is 46 million yuan, and an individual can win up to 50,000 yuan. In addition, Qingdao City, Changchun City and many other places have issued consumer coupons and launched special promotional activities for the automobile market, and their policies are mostly in favor of new energy vehicles.
Regarding the policy of issuing additional car purchase quotas, many cities with car purchase restrictions such as Shanghai and Guangzhou have announced the increase of car purchase quotas. Among them, the "Shanghai Action Plan to Accelerate Economic Recovery and Revitalization" stated that Shanghai will add 40,000 new non-commercial passenger car licenses within the year, and in accordance with national policy requirements, it will reduce part of the passenger car purchase tax in phases; Guangzhou will increase the number of car purchases by 30,000 on the original basis Shenzhen will directly add 20,000 incremental indicators for ordinary cars; Hangzhou will allocate 40,000 small passenger car indicators at one time...
However, the new indicators provided by cities with car purchase restrictions are configured differently for different groups of people. For example, Shenzhen and Hangzhou stated that they will use special lottery methods to allocate new indicators at one time to people who have accumulated more than a certain number of lottery draws. Tianjin’s rules are to allocate the incremental indicators of additional investments on average from June to mid-December 2022, with the additional allocation number being 5,000 per month.
After various local governments introduced policies to stimulate automobile consumption, industry insiders believe that the boosting effect of these policies on the automobile industry will significantly exceed the downward impact caused by the epidemic in April and May.
The sales terminals of the automobile market are indeed heating up under the stimulation of favorable policies in various places. According to data from the Passenger Car Association, in June, the output and wholesale sales of domestic automobile manufacturers were 2.200 million and 2.189 million vehicles respectively. The year-on-year growth of and were 45.6% and 42.3% respectively, and the month-on-month growth of and were 31.7% and 37.6% respectively. In April this year, the production and wholesale sales of domestic automobile manufacturers were only 969,000 and 946,000 respectively. dropped 41.1% and 43% respectively compared with last year, and dropped 46.8% and 47.8% respectively compared with .
At the 2022 China Automobile Distribution Industry Annual Meeting and Summit Forum held recently, Song Yingjie, Automobile Distribution Division of the Department of Consumer Promotion of the Ministry of Commerce, summarized this year’s auto market policies and said: “From June to October (this year), new car sales increased year-on-year. The growth rate exceeded 20%, and the retail sales of automobile products increased by more than 10% year-on-year, boosting the growth rate of total retail sales by more than 1% during the same period, playing a positive role in stabilizing the domestic economy market "
Daily Economic News
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