The State Council executive meeting held on November 18 clearly stated that it is necessary to stabilize and expand automobile consumption. Encourage localities to adjust and optimize purchase restrictions and increase the number of license plate indicators. Carry out a new round of cars going to the countryside and trade-in. How much consumption will be boosted by
this heavy move? How much benefit does it bring to consumers and the automotive industry? Become a hot spot in the market.
A new round of cars going to the countryside is here
The National Regular Meeting proposed to stabilize and expand car consumption.
encourage all localities to adjust and optimize purchase restrictions and increase the number of license plate indicators.
Carry out a new round of cars going to the countryside and trade-in, encouraging rural residents to purchase trucks of 3.5 tons or less and passenger cars with displacements of 1.6 liters or less, and for residents to eliminate vehicles with national emission standards and below and buy new cars. Give subsidies.
Strengthen the construction of parking lots, charging piles and other facilities. Z11z
This is also the first time in many years that the country has started to go to the countryside and trade in old cars again.
In 2009, my country's first round of preferential policies for autos to the countryside and purchase tax incentives have played a significant role. How effective was the policy at the time of
?
For example, in 2009, the State Council for the first time promulgated the preferential policy of "cars to the countryside". From March 1 to December 31 of that year, the purchase of minibuses with displacements of 1.3 liters and below, and three-wheeled vehicles or low-speed A one-off financial subsidy will be given to trucks that are scrapped in exchange for light trucks. In early 2010, the policy was extended for another year to the end of the year. In that year, with the help of the policy of autos to the countryside and halving the purchase tax, my country's auto market not only ended its five-month downward trend, but also achieved growth of 46.15% and 32.37% in the following two years. Why does
support auto consumption?
Fu Yifu, a senior researcher at Suning Financial Research Institute, said that automobiles are an important part of the total retail sales of domestic consumer goods. For ordinary people, cars are the largest consumer product after housing. In addition, the automobile industry is not only a pillar industry, but also a knowledge-intensive and technology-intensive high-value-added industry. It plays a leading role in promoting technological progress and industrial upgrading. It plays an important role in stimulating employment, increasing taxation, and facilitating trade. Zhao Ping, vice president of the China Council for the Promotion of International Trade Research Institute, said that in the recent past, my country's consumer market has continued to pick up rapidly, and the total retail sales of consumer goods have shown a positive growth trend for two consecutive months, and the growth rate is still increasing month by month. Among the total retail sales of consumer goods, automobile retail sales account for more than 25%. In recent months, the growth rate of automobile consumption has remained at double digits, which is very valuable for the automobile market that has been in a downturn in recent years. In this context, multiple measures to promote automobile consumption have been introduced in order to further consolidate the recovery trend of consumption and increase consumption growth.
brings three major benefits:
is good for one: it is expected to lead to a growth of about one percentage point in the total amount of zero
. Zhao Ping said that according to the driving effect of the past automobile consumption promotion policies on automobile retail sales, the implementation of relevant policies has an impact on automobile consumption in the year. Produce a driving effect of 30%-40% growth rate. And automobile consumption accounts for more than 25% of the total retail sales of consumer goods. If the implementation of the policy can produce the expected effect, based on past data, the automobile consumption promotion policy may drive the total retail sales of consumer goods to increase by about one percentage point. A single point of pulling will have a particularly obvious driving effect on the overall consumer market recovery and the recovery of the domestic demand market.
Two benefits: opening up a new space for the sinking of the auto market
National Passenger Vehicle Federation Secretary-General Cui Dongshu said that the National Standing Committee clearly proposed to launch a new round of autos to the countryside, mainly to encourage local governments to restart the promotion of autos to the countryside. It is expected to have a good pulling effect on the auto market this year. "We believe that this year's auto market will usher in relatively strong growth and open up more market space." Cui Dongshu said. Z1z
CITIC Securities pointed out that the auto consumption stimulus policy has exceeded expectations, which has helped the industry to accelerate its recovery. It is expected that the growth rate of passenger car sales in 2021 is expected to reach more than 15%, ushering in sectoral investment opportunities. Z1z
So where is the future growth point of the auto market? Fu Yifu believes that the market is sinking mainly in cities below the third tier and rural areas. His analysis pointed out that as of the end of 2019,There are 66 cities with more than one million vehicles, 30 of which have more than 2 million vehicles, while 11 cities including Beijing, Chengdu, Chongqing, Suzhou, Shanghai, Zhengzhou, Shenzhen, Xi’an, Wuhan, Dongguan, and Tianjin have more than 3 million vehicles. "The more low-tier cities, the lower the car ownership, and the gap also means that the potential to be tapped can be expected. There is reason to believe that the sinking of the market is likely to be the key to determining the future of China's auto market."
: Bringing three major dividends to consumers
For the consumer side, Zhao Ping believes that it will bring three major dividends:
First, the National Standing Committee clearly proposed "encourage local adjustment and optimization of purchase restriction measures and increase the number of license plate indicators." For consumers in cities with limited car purchases, the possibility of obtaining license plates has increased;
Second, the implementation of the car trade-in policy will have a very strong incentive effect on the demand for car consumption upgrades. Large displacement cars, well-known domestic and international And joint venture brands are expected to usher in greater demand;
Third, for rural car consumers, buying some trucks and small displacement cars will also get more concessions.
Encourage car consumption a big wave of good news
Since this year, the good news to encourage car consumption hit intensively.
As early as January 29, the National Development and Reform Commission, together with the Ministry of Industry and Information Technology, the Ministry of Commerce and other ten ministries and commissions, jointly issued the "Implementation Plan for Further Optimizing Supply and Promoting the Stable Growth of Consumption and Promoting the Formation of a Strong Domestic Market (2019)". Take measures to promote automobile consumption and better meet residents' travel needs" is listed first. The plan specifically mentions "promoting rural automobile replacement." Where conditions are clarified, rural residents can scrap three-wheeled vehicles and purchase trucks of 3.5 tons or less or passenger cars with displacements of 1.6 liters or less, and provide appropriate subsidies to drive rural automobile consumption.
On March 13, 23 departments including the National Development and Reform Commission and the Ministry of Commerce jointly issued the "Implementation Opinions on Promoting Expansion and Quality of Consumption and Accelerating the Formation of a Strong Domestic Market", proposing to promote the shift from restricted automobile purchases to guiding the use of policies, and encourage the appropriate increase of automobile purchase restrictions. Car license plate quota. Xin Guobin, deputy minister of the Ministry of Industry and Information Technology of
, previously stated that in the second half of the year, efforts will be made to expand effective demand. Efforts will be made to stabilize traditional bulk consumption such as automobiles, and on the basis of extending the subsidy policy for the purchase of new energy vehicles, accelerate the replacement of new energy vehicles in public areas such as urban public transport, logistics and distribution, and launch new energy vehicles to the countryside. In July this year, in accordance with the requirements of the Ministry of Industry and Information Technology, the Ministry of Agriculture and Rural Affairs, and the Ministry of Commerce, the three ministries and commissions jointly issued the "Notice on Launching New Energy Vehicles to the Countryside Activities", and the China Automobile Association organized the new energy vehicles to the countryside. Z1z
Locally, Guangdong, Beijing, Zhejiang, Shanghai and other provinces and cities have successively introduced policies related to the replacement of old cars, and plans to speed up the replacement of old cars through subsidies. With the favorable policies of the
series, auto consumption has accelerated into a recovery channel. Data show that in October, the retail sales of automobile commodities of units above designated size increased by 12.0% year-on-year, and the growth rate was 0.8 percentage points higher than that in September, maintaining double-digit growth for four consecutive months. Zhang Min, a statistician from the Department of Trade and Foreign Economic Affairs of the National Bureau of Statistics, explained that with the continuous and stable recovery of the national economy, residents' consumer confidence has increased, and demand for auto replacement has continued to be released. In particular, driven by policies to promote auto consumption, auto market sales have rebounded significantly. From the perspective of the industry, in recent years, the per capita disposable income of rural residents in China has continued to increase, and the trend of consumption upgrading has become more obvious. Carrying out a new round of cars going to the countryside and old-for-new will encourage more rural residents to buy or upgrade cars, which will help to release rural consumption potential to a greater extent. It is worth noting that in addition to car purchase subsidies, consumption of furniture and home appliances will also receive subsidies. The regular meeting also proposed to promote the consumption of home appliances and furniture. Encourage qualified areas to subsidize the elimination of old home appliances and furniture and purchase of green smart home appliances and environmentally friendly furniture. Reporter: Wang Wenbo, Sun Shaohua, Ban Juanjuan Report from Beijing
Producer: Chen Dong
Editor: Wei Wei
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