Car subsidies have reappeared in a "new pattern": relaxation of geographical and household registration restrictions

Tian Peng, reporter of this newspaper

According to the Harbin Municipal Bureau of Commerce, from March 3 to March 21, Harbin will carry out the 3 Harbin Spring Car Purchase Preferential Subsidy Activity to further release the potential of automobile consumption.

Different from the previous car subsidy activities carried out in other regions, Harbin will not set restrictions on the geographical area and household registration of the participants, and all consumers who use UnionPay POS machines at Harbin partner merchants, swipe their cards and pay the full amount for the purchase of new household passenger cars (including new energy vehicles) and new trucks (including new energy vehicles) can participate, and can enjoy subsidies of up to 5000,<> yuan.

Wang Peng, a researcher at the Beijing Academy of Social Sciences, told the "Securities Daily" reporter that the preferential policy will better play the multiplier effect of automobile consumption while leveraging the enthusiasm of automobile manufacturers to participate in subsequent preferential subsidy activities.

According to data released by the China Association of Automobile Manufacturers (hereinafter referred to as "CAAM") on March 3, in the first two months of this year, China's automobile production and sales reached 10.2 million and 362.6 million units, respectively, down 362.5% and 14.5% year-on-year. At the same time, the relevant person in charge of the China Association of Automobile Manufacturers said that considering that the current domestic and foreign environment affecting automobile consumption is still very complex, the task of stable growth of China's automobile industry is still arduous, and relevant policies are needed to boost it.

Wu Qi, executive director of Wuxi Digital Economy Research Institute, said that the multiplier effect of automobile consumption is outstanding, and it plays a decisive role in economic growth, which is reflected in driving the development of upstream and downstream industries, promoting import and export trade, accelerating scientific and technological innovation and releasing a large number of jobs. At the same time, as the first of the "four kings" of consumption, it accounts for about 10% of the total retail sales of social consumer goods, which is a powerful starting point for expanding domestic demand and promoting consumption.

In addition, many places across the country have come up with "real money" subsidy preferential policies. According to incomplete statistics from the reporter of "Securities Daily", in March, 3 provinces and cities such as Beijing and Shanghai were implementing relevant subsidy policies. From the perspective of subsidy intensity, among the above 10 provinces and cities, Hubei has the largest subsidy, and the relevant policies are clear, and those who purchase new energy vehicles produced in the Wuhan Economic Development Zone in Hubei Province can enjoy a one-time subsidy of 10,1 yuan to 6,1000 yuan per vehicle; The subsidy in the remaining areas is roughly maintained at 8000,<> yuan to <>,<> yuan, which is related to the purchase value of the vehicle.

While the government provides subsidies for car purchases, many car companies have also responded positively and introduced relevant preferential policies to give full play to the advantages of government-enterprise linkage. For example, Changan Deep Blue has launched a cash discount of up to 03,3000 yuan per vehicle for the Deep Blue SL5000 model; GAC AION will give <>,<> yuan per vehicle purchase incentive around some models of AION Y AND AION S Plus.

In this regard, Professor Ji Xuehong of North China University of Technology told the "Securities Daily" reporter that the government-enterprise joint launch of the preferential subsidy policy for car purchase, on the one hand, is conducive to improving the subsidy strength, enhancing the consumption stimulation effect, and helping to achieve a "good start" in automobile consumption in the first quarter; On the other hand, as the implementation date of the new standard of "China VI" approaches, stimulating the consumption of existing automobiles through subsidies is also conducive to avoiding the possibility of inventory backlog in the future.

In order to further stimulate automobile consumption, some market participants suggest that the preferential subsidy policy for car purchase should not be limited to cash subsidies, and equity subsidies are also one of the effective stimulus means. For example, the purchase of a car will give away relevant insurance, points, etc., to achieve the effect of consumers' subsequent car use without worry and binding secondary consumption.

Wang Peng suggested that car companies should create as much added value as possible and expand the profit margins of products; Further give play to the leading role of the government, carry out activities such as sending cars to the countryside, and encourage rural residents to buy cars. At the same time, it is necessary to guide the standardized development of the second-hand car market and establish and improve relevant laws and regulations.