Source: Securities Times
On November 27, the State Council Information Office held a regular policy briefing of the State Council to introduce the situation on boosting major consumption and promoting the release of rural consumption potential. Vice Minister of Commerce Wang Bingnan stated that the Ministry of Commerce will stabilize and expand automobile consumption, organize activities for new energy vehicles to go to the countryside, and guide localities to increase vehicle license plate quotas, implement fuel vehicle purchase subsidies, and carry out trade-in vehicles.
Since this year, in order to boost the auto consumption market, the central and local governments have successively introduced auto consumption stimulus policies. With the help of multiple policies, with the recovery of domestic production and life, the previously suppressed demand was released, and the auto market accelerated its recovery. Statistics show that the total social retail consumption in October increased by 4.3% year-on-year, and the growth rate was 1 percentage point higher than the previous month, achieving positive growth for three consecutive months. In the same period, automobile retail sales achieved a year-on-year growth of 12%, and maintained double-digit growth for four consecutive months.
The executive meeting of the State Council held on November 18 specifically made arrangements for "stabilizing and expanding auto consumption", clearly encouraging localities to adjust and optimize purchase restrictions and increase the number of license plates. Carry out a new round of cars going to the countryside and trade-in for new ones, encourage 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 purchase new cars. subsidy. Strengthen the construction of parking lots, charging piles and other facilities.
Wang Bingnan said that the Ministry of Commerce, together with the National Development and Reform Commission and the Ministry of Industry and Information Technology, will introduce policies and measures to stabilize and expand automobile consumption such as speeding up the elimination of obsolete old diesel trucks and smoothing the circulation and trading of second-hand vehicles, and implement them. Issue the "Detailed Rules for the Implementation of the Measures for the Recycling of Scrapped Motor Vehicles" to improve the recycling system for scrapped motor vehicles. In conjunction with the Ministry of Industry and Information Technology and the Ministry of Agriculture and Rural Affairs, organize new energy vehicles to the countryside. Instruct all localities to adopt measures to increase the number of car license plates, implement subsidies for the purchase of fuel vehicles, and carry out trade-in-for-new measures. Give localities greater autonomy and give full play to their enthusiasm and initiative. Luo Junjie, Director of the Equipment Industry Division I of the Ministry of Industry and Information Technology, said that this year's automobile production was significantly better than expected at the beginning of the year and better than the global level for the same period. Rural areas have many advantages for the promotion of new energy vehicles. Starting in July this year, the Ministry of Industry and Information Technology, together with the Ministry of Agriculture and Rural Affairs and the Ministry of Commerce, organized new energy vehicles to the countryside. So far, special events in Qingdao, Jiangsu, Hainan, and Sichuan have been completed. According to preliminary statistics, the four-month sales volume of the rural model has been close to 100,000. At the same time, the Ministry of Industry and Information Technology also promotes the electrification of public vehicles.
Next, the Ministry of Industry and Information Technology will promote the dual upgrade of automobile consumption and industry. The first is to increase industrial innovation to generate new consumer demand. Coordinately promote the in-depth integration and development of the automobile and energy, transportation, information and communication industries, and do a series of key tasks such as research on intelligent networked vehicle technology, standard development, and application demonstration, and promote the construction and development of infrastructure such as 5G and LTE-V2X. Application, start the city pilot work of the coordinated development of smart city infrastructure and intelligent connected vehicles, and develop more functions suitable for consumers' leisure and entertainment, life services, autonomous driving, etc. through the mutual promotion and integrated development of electrification and intelligent network technology , To promote more consumer demand.
The second is to improve policies and measures to promote automobile consumption. Encourage local governments to introduce more preferential policies for real money. We will work with relevant departments to formulate a car-to-rural activity plan and further promote the consumption upgrade of rural cars. To declare, work with the Ministry of Finance and other relevant departments to study awards and supplementary support policies to effectively drive private consumption through electrification in the public sector. According to data from the Passenger Association, the cumulative retail sales of passenger vehicles in the first half of November increased by 17.2% year-on-year, and the wholesale sales increased by 11.4% year-on-year, continuing the recovery trend. The Industrial Securities Automotive team believes that passenger cars, as an important tool for stabilizing the economy and employment in addition to infrastructure investment, have been continuously supported by policies this year. It is expected that passenger car sales will continue to recover from November to December and achieve large single-digit Sales are growing.
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