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Two years ago, in order to stimulate the development of domestic autos, the state introduced a series of favorable policies, vehicle purchase tax concessions, auto subsidy for the countryside, and trade-in for new products. In response to this wave of policy, in 2009, when the global auto market was affected by the financial crisis China's auto sales soared 46.15% year-on-year, ranking first in the world with 13.6448 million vehicles.
In 2010, the Chinese auto market continued to maintain a rapid development. The annual sales volume reached a record high, achieving an increase of more than 30%. Now, with the expiration of these policies, the three incentive policies that have contributed the most to car sales will be withdrawn from the stage of history.
Review: Policies used to be awesome
The financial crisis in 2008 hit the global automobile market by surprise, sales fell sharply, inventory suddenly increased, and auto giants fell down. The severe situation forced governments to move to save the auto market. China is no exception, so it is driven by strong policies. In 2009, China’s auto market took a reign and replaced the United States as the world’s largest auto market.
The task of the Chinese auto industry in responding to the financial crisis and stimulating economic growth is basically completed. In 2011, stimulus policies may tighten, and the auto consumption market is a clear policy city, and the high growth of auto sales will not continue. China has entered the automobile society. In the future, the automobile industry should pay more attention to energy conservation and emission reduction. In some cities where traffic is relatively congested, relevant restrictive policies may be introduced. The policy basically adds taxation to the auto industry. Under this background, car sales Growth will return to rationality. The Chinese auto industry should shift its emphasis on production and sales from the past to improving quality.
Comments: The impact of the exit of the three policies
Car trade-in subsidies
On December 31, 2010, the State Ministry of Finance announced that the implementation of the vehicle replacement policy for the countryside and the replacement of vehicles was completed on December 31, 2010. Except for Beijing, the deadline for other companies to apply for car trade-in subsidies is January 31, 2011. Local financial, commercial, environmental protection and other relevant departments shall promptly verify the payment of subsidy funds to ensure the normal operation of the service window and make full use of it.
Exit influence:
Since the implementation of the car replacement policy, it has played a positive role in stimulating and promoting automobile consumption, accelerating the elimination of high-emission, high-pollution yellow-label vehicles and old cars, and promoting energy conservation and emission reduction. According to statistics, between January and November of last year, nearly 347,000 vehicles were subsidized by vehicles for trade-in subsidies throughout the country, and 4.97 billion yuan was paid for subsidy funds, stimulating consumption of new cars by 38.2 billion yuan. With the withdrawal of this policy, old vehicles with the purpose of energy conservation and emission reduction may be affected in advance by scrapping, trade-in, and replacement.
Purchase tax benefits
On December 27, 2010, the Ministry of Finance issued a document concerning the policy of imposing a vehicle purchase tax reduction rate of 7.5% on passenger vehicles with a displacement of 1.6 liters or less and ceases to enforce after expiring on December 31, 2010, since 2011. From January 1st of the year, vehicle purchase tax will be levied at a rate of 10% for passenger cars with a displacement of 1.6 liters or less.
As the most powerful consumer stimulus policy in the auto market, purchase tax incentives have played an important role in the rapid growth of the auto market in the past two years. In particular, 1.6L and below models have become the main sales force of the auto market.
Exit influence:
With the withdrawal of the 1.6L and the following model purchase tax preferential policies, it is undoubtedly a bad news for the auto market in 2011. Many insiders believe that “signal meaning is greater than the actual meaningâ€, despite the actual calculation, one hundred thousand Around the yuan, the purchase tax required to pay in 2011 is only more than 2,000 yuan more than in 2010, but the psychological impact on consumers is relatively large, which will make the auto market sales pressure in 2011 soared.
Car subsidy to the countryside
According to the resolutions of the State Council's executive meeting, the Ministry of Finance, together with the relevant departments, began implementing the policy of "cars going to the countryside" starting from March 1, 2009, and farmers were buying miniature passenger cars, minivans, light trucks, and three-wheeled vehicles or low-speed vehicles. Trucks are scrapped and redeemed for minivans and light trucks to provide one-time financial subsidies. On December 31, 2010, the implementation of the policy expires.
According to the latest news released by the Ministry of Finance, the deadline for farmers who purchase products for cars to go to the countryside during the policy period is February 28, 2011. While strengthening policy publicity, local financial departments must coordinate and coordinate all aspects, and timely verify and administer the subsidy funds that have been purchased during the implementation period of the policy. This is to ensure the safety of funds and to make full use of them.
Exit influence:
Since its implementation, under the comprehensive drive of policies such as “automobile going to the countrysideâ€, the production and sales of automobiles have been booming, stimulating consumption and driving production, which has played an important role in stabilizing and recovering the country’s economy, and has achieved the desired goals. As the biggest benefit of the automobile-to-country policy, the micro-passenger market achieved sales of 2,279,600 units in the first 11 months of last year, an increase of 27.96% over the same period of the previous year. As the market growth is gratifying, major auto companies have poured into micro-enterprise. Fields, such as the South East car Xiwang. Forecast: How Big is the Power of Policy
Although the three incentive policies of the auto market in 2011 have already withdrawn from the stage of history, most dealers do not agree with the view that the 2011 auto market is badly beaten.
On the one hand, the automobile to the countryside and the old-for-new automobile policy are not suitable for the car market. The cancellation has no impact; on the other hand, the 25% reduction on purchase tax is 2,000 to 3,000 yuan, and the discount on many models has already risen to 10,000 yuan. Yuan above. In fact, as early as the end of 2010, some manufacturers have publicly announced that they are “paying taxes†for consumers. In the current environment, there will certainly be more manufacturers joining the tax camp. This is actually a disguised promotion.
As many high-end brands that did not enjoy policy care in the past two years, they are accustomed to the situation today. After two or three years of market training, most dealers have adapted. When there is no policy, sales are still high year after year, and they are optimistic about the market in 2011. Because high-end cars mainly look at the economic environment, the large economic environment is good, and our high-end cars have no problems.
Industry insiders believe that the exit of the three major stimulus policies will have a certain impact on the automotive industry. However, due to the huge rigid demand, the auto market is expected to achieve about 10% growth.
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