Can Guangdong local subsidies bring new energy vehicles back to the era of land subsidies?

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After Foshan, another city began to subsidize "Save the City" On March 3, the Guangzhou Municipal People's Government issued a document stating that individual consumers who purchase new energy vehicles will be given a comprehensive subsidy of 10,000 yuan per vehicle. Automobile sales companies purchase "National 6" standard new cars and give them a subsidy of 3,000 yuan each. In 2020, a sudden new epidemic hit the automotive market. In order to alleviate the pressure on the auto market, during the epidemic, various ministries and commissions also made statements and encouraged local governments to take active measures. At present, Foshan and Guangzhou in Guangdong Province have responded successively. Why was the "rescue" policy first implemented in Guangdong? In addition, it is worth noting that this subsidy policy is targeted at new energy vehicles. After the subsidy decreased in the second half of last year, local subsidies have been cancelled. Does this measure again signal local subsidies? On March 3, the Guangzhou Municipal People's Government officially released "Several Measures for Resolutely Winning the New Crown Pneumonia Epidemic Prevention and Control Struggle to Achieve the Economic and Social Development Goals and Tasks of the Year" (hereinafter referred to as "Measures") Said that from March to the end of December 2020, Guangzhou will receive a subsidy of up to 10,000 yuan for new energy vehicles and a 3,000 yuan "National Six" new vehicle replacement subsidy to boost automobile consumption. The document also emphasizes that it will accelerate the implementation of the target quota of 100,000 additional small and medium-sized passenger cars stipulated in June 2019, and will study and introduce more targets as appropriate. It took only five days from the approval of the subsidy policy by the Measures on February 26 to the entry into force of the subsidy policy. "Measures" proposed to accelerate the implementation of unused quotas for small and medium-sized passenger cars last year, subsidize the replacement of used cars and purchase of new energy vehicles, and increase automobile consumption. Subsidizing the purchase of new energy vehicles and advanced vehicles meets national requirements for stable vehicle consumption, especially in Guangzhou and Guangdong provinces, which are highly dependent on the automotive industry. Data show that Guangzhou's auto production and sales in 2018 are second only to Shanghai. The output value of its automobile industry accounted for more than 30% of the total output value of Guangzhou in that year. Its total output value exceeds 540 billion yuan, and Guangdong is China's largest province, with 3.117 million vehicles in 2019, accounting for 12. 2%, ranking first. In terms of new energy vehicles, Guangzhou will sell 68,099 new energy passenger cars in 2019, ranking third in the country, behind Shanghai and Beijing. It is for this reason that Guangdong Province is the province with the highest enthusiasm for policies related to automobile consumption. Guangzhou Automobile Group, which has close ties with Guangzhou, also quickly introduced subsidy policies for manufacturers such as GAC, GAC Toyota, and GAC Honda. On the basis of government subsidies, manufacturers again provided subsidies and launched some preferential activities in an attempt to seize the market. Under the huge impact of the new crown pneumonia epidemic on the domestic auto market, the auto industry is in deep crisis. Data show that the auto dealers inventory warning index in February was 81.2%, a year-on-year increase of 27.7%, a record high. On this basis, manufacturers also continue to provide profit subsidies, which is also to ease the pressure on some distributors. Ren Wanfu, a senior automotive analyst, said in an interview: "This year's auto market trend is definitely from low to high. Except for Foshan and Guangzhou, the possibility of related policies in other regions is relatively high, especially in areas where OEMs are concentrated In addition, purchase tax reductions and loosening restrictions in permit-restricted cities are also possible policies. ”Guangdong, China ’s largest auto industry province, restarted local subsidies and orderedly lifted purchase restrictions, which were the province ’s first shots. How likely is it to return to the age of subsidies? It is worth noting that Guangzhou's "rescue" policy directly subsidized new energy vehicles by 10,000 yuan. This reminds many people of a wave of sales halving in June last year when subsidies fell sharply. From June 26, 2019, the national subsidy standard for new energy vehicles will be reduced by about 50%, and local subsidies will be cancelled. It is estimated that the total subsidy withdrawal rate in 2019 will reach 70%, which is obvious "This year's auto market trend is definitely from low to high. Except for Foshan and Guangzhou, the possibility of related policies in other regions is relatively high, especially in areas where OEMs are concentrated. In addition, purchase tax deductions and restrictions on permits It ’s also a possible policy for cities to relax restrictions. ”Guangdong ’s largest auto industry province, Guangdong ’s restart of local subsidies and the orderly lifting of procurement restrictions, is the province ’s first shot. How likely is it to return to the age of subsidies? It is worth noting that Guangzhou's "rescue" policy directly subsidized new energy vehicles by 10,000 yuan. This reminds many people of a wave of sales halving in June last year when subsidies fell sharply. From June 26, 2019, the national subsidy standard for new energy vehicles will be reduced by about 50%, and local subsidies will be cancelled. It is estimated that the total subsidy withdrawal rate in 2019 will reach 70%, which is obvious "This year's auto market trend is definitely from low to high. Except for Foshan and Guangzhou, the possibility of related policies in other regions is relatively high, especially in areas where OEMs are concentrated. In addition, purchase tax deductions and restrictions on permits It ’s also a possible policy for cities to relax restrictions. ”Guangdong ’s largest auto industry province, Guangdong ’s restart of local subsidies and the orderly lifting of procurement restrictions, is the province ’s first shot. How likely is it to return to the age of subsidies? It is worth noting that Guangzhou's "rescue" policy directly subsidized new energy vehicles by 10,000 yuan. This reminds many people of a wave of sales halving in June last year when subsidies fell sharply. From June 26, 2019, the national subsidy standard for new energy vehicles will be reduced by about 50%, and local subsidies will be cancelled. It is estimated that the total subsidy withdrawal rate in 2019 will reach 70%, which is obvious

This year is the last year of the new energy subsidy policy. According to this policy, subsidies for new energy vehicles have been implemented for 10 years and will be completely eliminated after 2020. Although at the 2020 Top 100 Electric Vehicles Committee held in January this year, the Minister of Industry and Information Technology Miao Wei mentioned that subsidies will not be further reduced after July 1, 2020, which has led the outside world to speculate on the direction of new subsidies. . Can the Guangzhou government's subsidy bill be a signal to restart new energy vehicle subsidies? Subsidies have become a requirement for many professionals. According to industry insiders, according to the trend at the beginning of this year, if the state subsidies are completely eliminated this year, it will definitely have an adverse impact on the sharply declining new energy vehicle market and will not be conducive to the recovery of new energy vehicle companies after the epidemic. However, Cui Dongshu, secretary general of GAC Group, believes that Guangzhou's subsidies for new energy vehicles are a special period of local "rescue", which does not mean that the entire industry will restart subsidies. In addition, he also suggested that Guangdong's subsidies should be innovative in the application of subsidies. "This is equivalent to giving away a large car gift bag worth 10,000 yuan. In this way, it can drive consumption of new cars, improve public infrastructure while reducing consumption costs, and effectively use consumption to promote the construction of social support systems. This not only It is of great significance to the development of industry and society. "So far, local subsidies have been gradually phased out in many parts of the country. After Guangzhou started subsidizing the purchase of new energy vehicles, it is worth noting whether other cities will follow suit. At least this year, Guangdong Province took the lead in setting an example. As first-tier cities, will Beijing and Shanghai launch similar rescue policies? let us wait and see.