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With the nearing decline of subsidies for new energy vehicles, a number of car companies have issued new policies to attract consumers. As a weather vane for the new energy vehicle industry, BYD issued a model price adjustment statement on November 23, announcing that it would adjust the official guidance prices of dynasty, ocean and momentum-related new energy models, ranging from 2000 yuan to 6000 yuan. The price adjustment notice for specific models will be issued separately. Customers who sign up with a deposit before January 1, 2023 will not be affected by this price adjustment. For the price increase, BYD said that the price increase of models is mainly affected by the termination of state subsidies for new energy vehicles and the sharp rise in the price of battery raw materials.

As the head of the new car-building force, NIO Motor released its "2022 car purchase subsidy Program" as early as November 2, saying that due to NIO's customized car purchase model, it would take a period of time from locking production to delivery. Users who buy ES8/ES6/EC6/ET7/ES7 can enjoy the 2022 state subsidy if they pay the deposit and lock up the production schedule before December 31, 2022. The premium channel for ET5 was closed at 0:00 on September 9, 2022. All previous ET5 deposit users can enjoy 2022 state subsidy as long as they pick up their cars before June 30, 2023 (inclusive). Starting from 0:00 on September 9, 2022, new ET5 fixed users (those who have not previously booked) will enjoy the amount of state subsidy based on the subsidy policy when picking up cars.

Xiaopeng also announced a time-limited price guarantee policy yesterday, saying that orders completed by 24:00 on December 31, 2022 will continue to enjoy the 2022 national new energy subsidy, regardless of the delivery time. The subsidy difference caused by the licensing time will be borne by Xiaopeng Motor.

On November 24th, AITO officially announced that it would provide an additional 10, 000 national subsidies for the purchase of new energy vehicles in 2022 in return for the kindness of users, and that the event would end on December 31st. At the same time, starting from November 24, 2022, if the top 10000 users who have paid the deposit without a refund fail to complete the license before December 31, 2022 because of AITO vehicles, AITO vehicles will provide differential subsidies in accordance with the 2022 national new energy vehicle purchase subsidy standard.

On November 27, Changan Deep Blue officials also issued a national subsidy program to abolish subsidies. According to the national new energy vehicle policy, the subsidy policy for the purchase of new energy vehicles in 2022 will end on December 31, 2022. In order to repay consumers' concern and love for the Changan Deep Blue brand, the official subsidy program can provide users with a subsidy of up to 13860 yuan.

On November 30th, Ean issued a note on the price adjustment of car models, raising the price by up to 8000 yuan. EIA officials said in the announcement that the price increase is mainly affected by the decline of national new energy subsidies and the continued sharp rise in the price of major raw materials for batteries. Customers who have paid the production scheduling deposit before January 1, 2023 will not be affected by this price adjustment.

Geely also announced today that: in order to thank the majority of cyclists for their support and love, Geely Automobile Group promises to complete the deposit payment by 24:00 on December 31, 2022, and will enjoy 2022 national new energy subsidies (models include Geometry G6, Geometry M6, Geometry A, Geometry C, Geometry E, Geely Xingyue L Hi ·P extended range Electric, Geely Dihao LHj P, Linke 01 EM-P, 05 PHEV, 06 PHEV).

Some car companies have announced that prices are about to rise, some have announced price insurance policies, and some have announced price cuts. Led by Tesla, it announced price cuts and preferential rights in October. Subsequently, Ford announced a reduction in the price of some Mustang Mach-E models, ranging from 20000 yuan to 28000 yuan. On November 15th, Mercedes-Benz announced that it would adjust the recommended retail prices of some Mercedes-EQ models from November 16, 2022, including pure electric EQE and EQS, with a maximum reduction of 200000.

It is understood that the extension of the current subsidy time for new energy vehicles is based on the "Circular on improving the Financial subsidy Policy for the Promotion and Application of New Energy vehicles" issued by the Ministry of Industry and Information Technology and the Ministry of Finance in 2020. According to the previous subsidy policy framework, the subsidy decline intensity and pace gradually slowed down, and the subsidy standards from 2020 to 2022 declined by 10%, 20%, and 30% respectively on the basis of the previous year. The subsidy standard for new energy vehicles in 2022 will decline by 30% on the basis of 2021, and the current new energy subsidies will be completely stopped after December 31, 2022. According to the contents of the subsidy program, it can be seen that in 2022, the subsidy amount for pure electric passenger vehicles with mileage of 300-400km is 9100 yuan, that for pure electric passenger vehicles with mileage not less than 400km is 12600 yuan, and that for plug-in hybrid (plus) passenger vehicles with mileage no less than 50km is 4800 yuan. However, with the end of the state subsidy, it also means that the purchase of these new energy vehicles will no longer enjoy the subsidy policy by 2023, and consumers will also pay more to buy vehicles.

As for the new energy vehicle subsidy policy that will be withdrawn at the end of this year, car companies also release policy information such as price increases and insurance and subsidies in advance to attract users to accumulate orders. Although the decline of subsidies for new energy vehicles will have a certain impact on the end market, but the overall impact is limited, growth is still a major trend. According to relevant data, domestic sales of new energy vehicles totaled 1.206 million in 2019 and 1.367 million in 2020, an increase of 10.9% over the same period last year. In 2021, 3.521 million new energy vehicles were sold in China, an increase of 1.6 times over the same period last year. From January to October 2022, the retail sales of new energy passenger vehicles totaled 4.432 million, an increase of 108 per cent over the same period last year. This time, manufacturers have launched new policies, and to a certain extent, they will overdraw the demand for new energy vehicles in the first quarter of 2023.

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