automobile production and sales fell in august, and there are calls for relaxing purchase restrictions
2024-09-11
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on september 10, the china association of automobile manufacturers held a monthly press conference on the economic operation of the automobile industry. in august, automobile production and sales reached 2.492 million and 2.453 million respectively, up 9% and 8.5% month-on-month, and down 3.2% and 5% year-on-year respectively.
chen shihua, deputy secretary general of the china association of automobile manufacturers, said at the press conference that the year-on-year decline in automobile production and sales in august was due to the high base of the same period last year and the fact that the effect of the old-for-new policy would not be apparent very quickly. however, as more and more local governments introduce relevant policies, the vitality of the automobile market will be further stimulated.
chen shihua said that at present, my country's economic prosperity remains generally stable. affected by factors such as the recent high temperature and heavy rain, and the off-season for some industries, the production of manufacturing enterprises and market demand have slowed down. in terms of the performance of the automobile market, since the national development and reform commission and the ministry of finance issued the "several measures on strengthening support for large-scale equipment renewal and consumer goods trade-in", the intensity of automobile scrapping and renewal subsidies has been increased, and the average daily application volume of scrapping and renewal subsidies in august exceeded 10,000. some provinces and cities have also introduced replacement and renewal policies, and market consumption enthusiasm has been further stimulated, especially the strong performance and significant contribution of new energy vehicles, which has promoted the month-on-month growth of automobile production and sales.
new energy vehicles are growing strongly
data shows that from january to august, the cumulative production and sales of automobiles reached 18.674 million and 18.766 million, up 2.5% and 3% year-on-year respectively.
from january to august, the top ten companies (groups) in terms of automobile sales sold a total of 15.871 million vehicles, accounting for 84.6% of the total automobile sales. among the top ten companies in terms of automobile sales, compared with the same period last year, the sales of saic group, china faw group, gac group and baic group declined to varying degrees, while the sales of other companies increased to varying degrees, among which chery holdings had the most significant growth.
in terms of new energy vehicles, the production and sales of new energy vehicles in august reached 1.092 million and 1.1 million respectively, an increase of 10.9% and 11.1% month-on-month, and an increase of 29.6% and 30% year-on-year respectively. the sales of new energy vehicles reached 44.8% of the total new car sales.
from january to august, the cumulative production and sales of new energy vehicles reached 7.008 million and 7.037 million, up 29% and 30.9% year-on-year respectively, and the sales of new energy vehicles accounted for 37.5% of the total sales of new vehicles. among the main types of new energy vehicles, the production and sales of the three major types of new energy vehicles increased to varying degrees compared with the same period last year.
in terms of exports, 511,000 vehicles were exported in august, up 9% from the previous month and 25.4% from the previous year. by vehicle type, 438,000 passenger cars were exported, up 9.7% from the previous month and 25.6% from the previous year; 74,000 commercial vehicles were exported, up 4.7% from the previous month and 24.7% from the previous year. from january to august, 3.773 million vehicles were exported, up 28.3% from the previous year. by vehicle type, 3.176 million passenger cars were exported, up 29.4% from the previous year; 597,000 commercial vehicles were exported, up 22.8% from the previous year.
chen shihua said that as the central government's scrapping and renewal policy gradually shows results, coupled with the local replacement and renewal subsidy policies taking effect, it is expected to play a positive role in promoting the automobile market in the next four months. in addition, the automobile industry is about to usher in the traditional sales peak season of "golden september and silver october", many places will hold autumn auto shows, and major automakers are also continuously launching new products, which will help further release market consumption vitality.
car consumption promotion policies continue to increase
as a major consumer product, automobiles account for about 10% of the country's total retail sales of consumer goods and are a key area for boosting consumption this year.
since the beginning of this year, policies to promote automobile consumption have been continuously strengthened. after the state council issued the "action plan for promoting large-scale equipment renewal and consumer goods trade-in" in march this year, relevant departments immediately issued the "detailed rules for the implementation of subsidies for auto trade-in", which made overall policy arrangements for the implementation of auto trade-in. recently, the ministry of commerce and seven other departments issued the "notice on further improving the work of auto trade-in" (hereinafter referred to as the "notice"), which optimized and improved the auto trade-in policy.
feng xuming, a researcher at the institute of quantitative and technical economics of the chinese academy of social sciences, said that the most important change in the "notice" is that the subsidy standard for car trade-ins has been greatly increased. according to the provisions of the "notice", for individual consumers who scrap their old cars and buy new cars in accordance with the provisions of the "detailed rules for the implementation of car trade-ins subsidies", the subsidy standard will be increased from 10,000 yuan for the purchase of new energy passenger cars and 7,000 yuan for the purchase of fuel passenger cars to 20,000 yuan and 15,000 yuan respectively. the doubling of the subsidy standard will significantly enhance the incentive and leverage effect of the old-for-new policy, steadily expand automobile consumption, and drive the gradual upgrading of the automobile stock.
detailed measures to promote the replacement of old cars with new ones are also being implemented intensively in various places. for example, the "implementation plan for guangzhou to use ultra-long-term special treasury bond funds to support the replacement of old cars with new cars" which came into effect on september 1st not only increased the subsidy intensity and expanded the scope of subsidies, but also further increased support for the renewal of new energy buses and power batteries.
on september 9, the shanghai development and reform commission and other departments issued the "notice on implementing the decision-making and deployment of promoting the trade-in of consumer goods and further supporting the trade-in of new energy vehicles in shanghai". according to the requirements, from the date of issuance of the "notice" to december 31, 2024, individual users who meet the relevant requirements of article 4 of the "implementation measures for encouraging the purchase and use of new energy vehicles in shanghai" can apply for the quota of special license plates for new energy vehicles. this move aims to phase out the policy measures for the quota of special license plates for new energy vehicles in shanghai and support the trade-in needs of individual users.
data released by the ministry of commerce at a press conference on august 22 showed that the ministry of commerce's automobile trade-in information platform has received more than 680,000 applications for automobile scrapping and renewal subsidies, with approximately 340,000 new subsidy applications in the past month.
feng xuming believes that the implementation of the car trade-in policy will benefit the present and the long term, and will help achieve multiple goals. the car trade-in policy is both an automotive industry policy and a macro-control policy. as the inventory of automobiles, home appliances, computers, mobile phones and other products continues to accumulate, and the iteration cycle of technology and products accelerates, the old-for-new policy may become an increasingly common consumption format in the future. as part of the circular economy, it will help achieve the intensive use of social resources.
in addition, with the vigorous development of new energy vehicles and the increase in residents' demand for cars, there are constant calls to relax purchase restrictions. since the beginning of this year, relevant departments have repeatedly suggested in documents that local governments should relax purchase restrictions according to their actual conditions.
in march this year, the state council issued the "action plan to promote large-scale equipment updates and trade-in of consumer goods", which proposed "optimizing automobile purchase restrictions in accordance with local conditions"; in may, the state council issued the "2024-2025 energy conservation and carbon reduction action plan", which proposed "gradually canceling restrictions on the purchase of new energy vehicles in various places"; in june, the national development and reform commission and other departments jointly issued the "measures on creating new consumption scenarios and cultivating new consumption growth points", proposing to expand new scenarios for automobile consumption, encourage cities with purchase restrictions to relax vehicle purchase restrictions, and increase car purchase quotas.
local governments have also responded positively. on july 19, the beijing municipal transportation commission stated that in order to gradually meet the car needs of car-free families, the beijing municipal transportation commission, together with the beijing municipal development and reform commission, the public security bureau traffic management, the ecological environment and other departments, conducted research and, with the approval of the municipal government, will issue 20,000 new energy passenger car quotas to eligible car-free families in 2024.
cui dongshu, secretary general of the passenger car market information joint branch of the china automobile dealers association, believes that the policy of relaxing car purchase restrictions reflects the increasing efforts to promote automobile consumption and the determination to accelerate the exploration of market potential. it is expected that the relaxation of quota restrictions will become a major trend in the second half of this year.
(this article comes from china business network)
