The Shanghai automobile giant has comprehensively reduced prices, smashed 37.5 billion yuan in subsidies to grab the market, and the maximum discount for bicycles is <>,<> yuan

Recently, a large-scale price reduction activity originated from Dongfeng Motor in Hubei Province has not only aroused the enthusiasm of local consumers and the attention of the whole country, but also set off a "butterfly effect".

China FAW launched the "Qihui Jilin - 1 million yuan time-limited subsidy" campaign, with a total subsidy of 5 million yuan, and the maximum amount of bicycle subsidy can reach 37000,<> yuan.

Many brand dealerships in Guangzhou are also "grabbing" consumers. Guangqi Honda Haoying and Accord will receive a discount of 2,3-16000,3 yuan, and FAW-Volkswagen can enjoy 16,3 yuan replacement support for any brand replacement patrol and territory. On March 15, the GAC Group's public account announced that consumers who place orders for GAC Trumpchi, GAC Honda, and GAC Toyota fuel models under GAC Group on March 31~<> can enjoy subsidies provided by manufacturers, and at the same time, complete the license within the agreed time, and have the opportunity to get the Guangdong A blue plate for free.

Now, another major automobile group, SAIC, can not sit still, not only launched special preferential activities covering Roewe, MG, Buick, Cadillac and other brands in Hubei, but also opened a nationwide subsidy activity for the entire Chevrolet series. Not long ago, SAIC Volkswagen employees bought SAIC Audi to enjoy a large discount also attracted attention.

At 3 p.m. on March 16, SAIC Volkswagen released a late night discount announcement, announcing a huge subsidy of 10.37 billion yuan, and a limited-time discount of up to 5,2023 yuan for bicycles, which will run from now until April 4, 30.

SAIC Volkswagen announced a subsidy of 37.<> billion yuan

Covers all models

On the evening of March 3, SAIC Volkswagen announced a subsidy of 16.37 billion yuan to follow up the "price reduction tide", and the limited-time discount for bicycles can be up to 5,4 yuan. SAIC Volkswagen said that the subsidy activity will last from now until April 30.

Specifically, Huian has a limited-time discount of 5,2023 yuan; Touron 2023, all-new Touron X, Weiran 3 and other models have a limited discount of 5,2023 yuan; Passat 2 model, Passat PHEV and other models have a discount of 5,1 yuan, and some models also enjoy discounts ranging from 2,2023~6,2023 yuan. In terms of new energy, the SAIC Volkswagen ID. family has also joined the price reduction tide, with the 4 ID.3X and 2023 ID.3X both discounted by 2,<> yuan; the <> ID.<> discount of <>,<> yuan.

"The subsidy policy covers all models under the SAIC Volkswagen brand, mainly in response to national policies and the consumption environment. This is also reflected in our rapid response to changes in the terminal market after the change of marketing. A SAIC Volkswagen insider told the "Daily Economic News" reporter.

With the addition of SAIC Volkswagen, the "subsidy war" in the car market triggered by the "Dongfeng system" has intensified. According to incomplete statistics, up to now, more than 30 automobile brands such as "BBA", Buick, and BYD have participated in it through manufacturer subsidies or dealer price reductions.

According to the Beijing News, SAIC Volkswagen told reporters that the reason why brands chose to reduce prices is on the one hand to actively respond to national policies and consumption environment; On the other hand, after the marketing change, SAIC Volkswagen directly touched the marketing terminal, responded quickly, and became more and more grounded.

"It can be simply understood that our front-line personnel received feedback from consumers and responded to price reductions," a person close to SAIC Volkswagen told reporters.

As of press time, SAIC Motor (600104) shares were quoted at 14.25 yuan, up 0.56%, with a total market value of 1665.<> billion yuan.

Eager to reverse the decline in sales

For SAIC, the rush to reverse the decline in sales is the key to its ability to follow the price cut.

According to the production and sales report released by SAIC Motor Co., Ltd. on March 3, in February, the group sold a total of 9 finished vehicles, down 2.301342% year-on-year, and the overall performance underperformed the market.

Among them, SAIC Volkswagen sold 73303,19 units, down 10.68157%; SAIC-GM sold 10,33 units, down 58499.9%; SAIC Motor Motor Passenger Vehicle sold 17,<> units, down <>.<>%. Several major sales pillars have fallen sharply, and SAIC's decline is self-evident.

In terms of new energy sales, SAIC Motor sold 4,5 units in February, up 38.5% month-on-month, but still down 1.4% year-on-year. Most of the reasons are related to the fact that the market share of Wuling Hongguang MINI EV, which has been dominating the list for a long time, has gradually been diluted by the small cars of major brands, and the terminal sales performance of its new energy high-end brands Feifan Automobile and Zhiji Automobile is relatively flat. The data shows that the sales of the SkyFan R7 continued to decline, with only 192 units sold in February, and Zhiji delivered less than 1251 units.

However, it is worth noting that whether it is for SAIC Motor or other car companies participating in this round of price reduction, it can indeed usher in a sharp increase in sales and achieve inventory digestion. However, whether such a large promotion will interfere with the normal market system, and even the future potential of overdraft enterprises is still unknown.

According to data from the Passenger Association, in 2022, SAIC Volkswagen's annual sales will be 127.3 million units, a year-on-year increase of 7.3%, but it is still inferior to FAW-Volkswagen. In terms of the transformation and upgrading of high-end and electrification, SAIC Volkswagen made efforts on SAIC Audi and ID series respectively, but the performance was not as expected. Among them, ID. series pure electric models will only sell 2022,74858 units in 2022, which is still far from the new forces of car manufacturing; SAIC Audi is even more unfavorable, selling only 6280,63 units in 56, while FAW Audi sold <>,<> units in the same period, a huge gap.

However, SAIC's performance in overseas markets is still on the rise. According to surging news, data shows that in February, SAIC's overall sales in overseas markets reached 2,8 units, an increase of 4.9% month-on-month and 3.49% year-on-year. According to official release information, MG's monthly sales in the European market have doubled year-on-year.

Last year, SAIC's annual sales in overseas markets hit a record high, and Europe became SAIC's first "20,22-unit-class" overseas regional market. MG ranks among the top 80 single brands in nearly <> countries including Australia, New Zealand, Mexico, Thailand, Chile, etc. SAIC Maxus' overseas sales exceeded <>,<> units, accounting for more than <>% of sales in developed countries such as Australia, New Zealand, and the United Kingdom.

Chengdu launches automobile consumption activities The cumulative subsidy for bicycles is up to 15,<> yuan

In addition to the subsidies of enterprises themselves, more and more local governments have also launched limited-time "gift packages" in order to stimulate automobile consumption.

According to the news released by Chengdu, from March 3, the "production and marketing linkage" automobile consumption activity in Longquanyi District of Chengdu was officially launched, with a total subsidy amount of up to 17 million yuan and a cumulative subsidy of up to 1,15 yuan for bicycles, which will become the largest preferential range in the history of automobile promotional activities in Chengdu, the largest number of locally made new energy brand models, and the longest duration of a car purchase activity benefiting the people.

As an important automobile industry base in China, Chengdu Economic Development Zone (Longquanyi District) has gathered 10 vehicle enterprises such as FAW-Volkswagen, FAW Toyota, Dongfeng Shenlong, Volvo, Geely, etc., and more than 500 parts enterprises, with a vehicle output of 2022,98 units and an output value of 1541.4 billion yuan in the automobile industry in 36, including 5008,60 new energy vehicles, a year-on-year increase of <>%. Sagitar, Jetta series, Toyota Asian Dragon, Peugeot <>, Volvo XC<> and other popular models in the market are produced at its manufacturing plant in Longquanyi District.

According to Red Star News, this consumption event will last until June 2023, 6, and the participating brand models cover pure electric, hybrid and plug-in. The subsidy methods of this event are divided into two ways: one-time car purchase subsidy and car consumption coupon deduction. Individual or legal person consumers who purchase designated models of FAW-Volkswagen, FAW Toyota, Volvo, Peugeot-Citroen Automobile, Dayun Automobile, Lynk & Co, Hongqi and other enterprises at automobile dealers operating in Chengdu will receive a one-time subsidy ranging from 30,15000-150000,<> yuan per vehicle to be listed within the specified period, and superimposed on the preferential subsidies matched by the enterprises.

According to Beijing Youth Daily, on March 3, Beijing's Miyun District will launch a car consumption coupon distribution activity - issuing 18 million yuan of car consumption coupons. During the event, consumers can enter the "Consumption Map - Miyun District" WeChat mini program to collect car consumption coupons, and use them when purchasing cars at participating car 100S shops.

It is reported that if the amount of consumers purchasing cars is 10,20-4000,20 yuan (excluded), each car can enjoy a subsidy of 30,6000 yuan; If the sales volume of the car is 30,8000-<>,<> yuan (excluded), each vehicle can enjoy a subsidy of <>,<> yuan; If the sales volume of the car is more than <>,<> yuan, each car can enjoy a subsidy of <>,<> yuan. Car consumption vouchers are on a "first-served, first-served" basis until the quota is exhausted, and unused coupons will automatically expire.

On March 3, Beijing Shijingshan District fully launched the "Vitality Shijingshan Tesco Car Life" theme activity, issued 16 million yuan "car consumption coupons", and simultaneously sent 1000,8000 digital yuan consumption incentives to automobile consumers.

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