AutoBeta(AutoBeta.net)03/24 Report--

Affected by the COVID-19 epidemic, China's auto market has suffered an unprecedented impact since the Spring Festival, so that auto production and sales fell sharply in February compared with the same period last year, and sales fell back to the 2005 level. In response to the impact of the sudden epidemic on the consumer market, the Ministry of Commerce issued an article earlier today on "Beijing is studying and formulating policies and measures to promote automobile consumption."

According to previous news released by the Ministry of Commerce, at 08:55 on the morning of March 24, the website of the Ministry of Commerce released a short message entitled "Beijing is studying measures to stimulate automobile consumption," which attracted public attention.

The news pointed out that automobile consumption accounts for the largest proportion of commodity consumption in Beijing. In 2019, the retail sales of automobile goods, which accounted for 13.8% of social zero sales, fell by 8.0% compared with the same period last year (the national growth rate was-0.8%). Pull down the city's social zero growth rate of 1.3 percentage points.

In order to deal with the impact of the sudden epidemic on the consumer market, Beijing is studying and formulating policies and measures to promote automobile consumption.

First, the policy of eliminating and updating high-emission old cars will be launched as soon as possible, releasing some indicators of the stock of old cars, and by setting subsidies and incentives and a time limit for car purchase, it will be converted into a contribution to the consumption of newly purchased cars during the year.

Second, for new energy vehicle demand families in this city who do not have cars and are waiting for them, no less than 100000 car purchase indicators will be released in the first half of the year to promote car purchase consumption by families with rigid demand, which is expected to be rapidly transformed into consumption increment within this year. The new social zero will be about 20 billion yuan.

The third is to study the introduction of special minibus license plates limited to the suburbs, which are not included in the regulation and control index of motor vehicle ownership in the city, effectively meet the suburban family car purchase and travel needs, and at the same time, orderly guide non-capital function relaxation and regional coordinated development.

As soon as the news came out, the stocks of the domestic and Chinese and Hong Kong stock auto industries soared across the board, including Great Wall Motor and BAIC Blue Valley in the A-share market, while nine enterprises rose by more than 5%. It can be seen that the news has a lot of good news for the automobile industry.

However, when some netizens searched the website of the Ministry of Commerce of the people's Republic of China again to inquire about this news, they could not find the relevant information. Some netizens even questioned that according to the screenshot of the previous news, the message was provided by the Office of the Commissioner of the Ministry of Commerce in Tianjin and should normally be sent by the Beijing Ministry.

However, as the news was posted on the official website of the Ministry of Commerce, the authenticity of the news is still very high. It is understood that the reason for withdrawing this article is that it is related to the index work of minibuses in Beijing, and it is also the focus of social attention, and the current policy is only in the research stage, so it should be issued by the Beijing transportation department in terms of procedure.

In fact, according to data released by the China Federation of passengers a few days ago, car sales fell 79.1% in February from a year earlier, with the auto market further expanding compared with January, with cumulative sales of 1.969 million vehicles from January to February, down 41% from a year earlier, a record low. This also means that since entering 2020, China's automobile industry has suffered a heavy setback, and the sudden COVID-19 epidemic has brought the automobile industry to a standstill immediately under the continuous downturn of the car market environment. Hoping to achieve economic recovery by stabilizing traditional bulk consumption such as cars is indeed a measure that the current government should do.

To this end, many places in China have previously issued relevant policies to stimulate automobile consumption, including Foshan, Guangzhou, Changsha and other cities. And lift the restrictions on the purchase of new energy vehicles, optimize and extend the new energy subsidy policy; include personal car purchase expenses in the special additional deduction of individual income tax; implement the "State III" emission vehicle purchase tax reduction and reduction; increase auto financial support; increase vehicle export value-added tax rebate rate, promote vehicle export; promote second-hand car circulation and consumption and other policies.

According to the latest forecast of the China Association of Automobile Manufacturers, if the epidemic is effectively controlled by the end of March, production and sales are expected to decline by about 45% in the first quarter and about 25% in the first half of the year.

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat