Shanghai, December 7 (Pu Fan) According to the "Notice on Improving the Financial Subsidy Policy for the Promotion and Application of New Energy Vehicles" issued by the Ministry of Finance and four other departments, China's new energy vehicle purchase subsidy policy will end on December 31, 2022. This policy subsidy, which has been implemented in 2010, will eventually come to an end after several cancellations and extensions.
According to the current 2022 China New Energy Vehicle Subsidy Policy, each plug-in hybrid vehicle is subsidized by 4,800 yuan (RMB, the same below), and each pure electric vehicle is subsidized by 12,600 yuan. The selling prices announced by automobile manufacturers are also subsidized. Once the price is "refunded", the selling price of new energy vehicle will definitely be affected. "Refund and subsidy" is about to end, and car companies are also trying to impact sales or guarantee orders. At present, the market mainly includes three types of car companies: "price increase", "price guarantee" and "price reduction".
A certain brand of car announced that it would raise official guidance prices ranging from thousands of yuan to its different models, and stated that customers who pay deposits before January 1, 2023 will not be affected by this price adjustment. Car companies such as Wenjie, Geely , Great Wall, Ora , etc. also announced in a tactful way that prices will change and introduced price insurance policies. Since the time for adding cards to the new energy vehicle subsidy node is the basis, and the time from paying the deposit to registering is affected by various factors, the insured policy can to a certain extent dispel customers' concerns about "not keeping up with subsidies".
In addition to the "price increase player" and "price guarantee player", companies such as Lantu directly choose to reduce prices. In the view of Zhang Xiang, an analyst at in the automotive industry, and Zhang Xiang, visiting professor at in in in in the Yellow River Science and Technology College, "refunding and subsidy" is only a secondary factor for the price adjustment of car companies, and it is mainly adjusted based on the market supply and demand relationship of car companies. "Subsidies have lasted for more than ten years, and withdrawing should be a good thing at present." Cui Dongshu, Secretary-General of the National Passenger Car Market Information Joint Conference (hereinafter referred to as: Passenger Car Association), said in an interview with the China News Service reporter that the current role of "national subsidies" in the development of new energy vehicles is greatly reduced, and the subsidies for most models are less than 10%. The termination of subsidies has opened up the market development space for new energy vehicles and promoted the market-oriented competitive environment of the industry. Are China's new energy vehicles ready to face the market-oriented "big test"? Cui Dongshu pointed out that in recent years, the growth rate of China's new energy passenger cars has been stronger than the average growth rate of the world's , and China's share of the world's new energy has remained 52% of the whole year in 2021. From January to October 2022, China accounted for 63% of the world's new energy share, of which 67% were accounted for from July to October. From January to October, China's automobile market accounted for 33% of the world's cumulative share.
It is worth mentioning that new energy vehicles are also the core growth point of China's automobile exports. According to data from the China Passenger Car Association, China exported 223,000 new energy vehicles in 2020 and 588,000 new energy vehicles in 2021. From January to October 2022, a total of 850,000 new energy vehicles were exported, and 144,000 vehicles were exported in October, and increased by 470% year-on-year. He Songsong, partner of Rees Strategic Positioning Consulting in China, told China News Service: "After more than ten years of policy guidance and market education, the characteristics and advantages of the new energy vehicle category have been recognized and accepted by more and more consumers today. The termination of the 'national subsidy' only brings a little price disadvantage, which is not enough to fight against this era's general trend." At present, the penetration rate of new energy vehicles in China's new energy vehicle has reached 23%, exceeding the goal of "the penetration rate of new energy vehicles by 2025" three years ahead of schedule. Zhang Xiang also believes that the "reduction in subsidies" may slow down the growth rate of China's new energy vehicles, but the general trend of gradual replacement of fuel vehicles by new energy vehicles will not change.