2018 new energy automotive industry is now the five variables alternately coexist

The New Year’s new policy, the automotive industry in 2018 is no exception, but this year’s major new policies are more important than in previous years. From a good point of view, new energy vehicles, used cars will be the country's key development targets in 2018, and set a separate preferential tax-free purchase tax policy, increase the proportion of loans; bad, the purchase of small-displacement car purchase tax preferential cancellation, double-point policy Immediately after the implementation, they are pressing harder and harder for the car companies to transform and upgrade.

The destiny of 2018 will also be an extraordinary year. The game between traditional car manufacturers and new car builders, the alternation of traditional fuel vehicles and new energy vehicles will intensify, and all these changes will indicate the Chinese car market. Rapid change. The new policy environment and market environment will also bring new challenges to car companies.

Recovery of small-displacement vehicle purchase tax to 10%

As early as September 29, 2015, the State Council issued a notice: from October 1, 2015 to December 31, 2016, the purchase of vehicle purchasers with a displacement of 1.6L and below will be levied by half. Tax incentives (that is, from the original 10% tax rate reduction to 5% tax rate). Afterwards, in order to continue promoting the development of new energy vehicles and small-displacement vehicles, on December 13, 2016, the state adjusted its purchase tax for passenger cars with a displacement of 1.6L and below again. It was announced as of January 1, 2017. From December to December 31, the purchase tax rate for purchases of passenger cars with a displacement of 1.6 liters or less was changed from the previous 5% to 7.5%, which is still lower than the original basic tax rate of 10%. Today, such preferential policies will be completely over.

Interpretation: The introduction of this policy will, to a certain extent, suppress the market heat of small-displacement passenger cars. Taking a vehicle with an invoice price of 100,000 yuan and 1.6L or less as an example, the purchase tax to be paid on this vehicle from October 1, 2015 to December 31, 2016 is 4,273 yuan. The purchase tax to be paid during the period from January 1, 2017 to December 31, 2017 is 6,410 yuan. With the cancellation of this year's purchase tax preferential policy, the purchase tax to be paid will be 8,547 yuan.

New energy vehicles exempt from purchase tax

On December 26, 2017, the Ministry of Finance, the State Administration of Taxation, the Ministry of Industry and Information Technology, and the Ministry of Science and Technology jointly issued the “Announcement on Exemption from the Purchase of New Energy Vehicles”, which is exempted from the purchase of new energy vehicles. The vehicle purchase tax will be effective from January 1, 2018 until December 31, 2020.

New energy vehicles that enjoy this policy must meet the following conditions: Acquire pure electric vehicles, plug-in (including extension) hybrid vehicles, and fuel cell vehicles that are licensed for sale in China; meet the technical requirements for new energy vehicles; pass the new Special test of energy vehicles to meet the special inspection standards for new energy vehicles; new energy vehicle manufacturers or imported new energy vehicle dealers meet relevant requirements in product quality assurance, product consistency, after-sales service, safety monitoring, power battery recycling, and other aspects .

Interpretation: The introduction of this policy means that new energy vehicles will be exempted from vehicle purchase tax for six consecutive years. It is not difficult to see the country’s determination to promote new energy vehicles. For car companies suffering from the news that the subsidies for new energy vehicles in 2018 will decline ahead of schedule, the introduction of this policy will undoubtedly be a booster. . China Automobile Association expects that the total sales of new energy vehicles in China will exceed 1 million in 2018.

Loan down payment as low as 15%

In order to further promote automobile consumption and regulate the management of auto loan business, on November 8, 2017, the People's Bank of China and the China Banking Regulatory Commission jointly promulgated the newly revised "Administrative Measures for Auto Loans" stipulated on January 1, 2018. Since then, the proportion of auto loans for traditional fuel vehicles has remained unchanged, which is still 80%; the maximum loan ratio for new energy vehicles is 85%; the loan ratio for used cars has increased from 50% to 70%.

Interpretation: With the penetration of consumer finance into daily life, installment payments and credit loans have become one of the most important consumption methods. For consumers who want to purchase new energy cars and used cars, the difficulty of making loans in the past has made buying second-hand cars more expensive than new cars.

Dual-point implementation

On September 28, 2017, the Ministry of Industry and Information Technology formally reviewed and approved the “Measures for the Concurrent Management of the Average Fuel Consumption of New Energy Vehicles and New Energy Vehicles by the Passenger Vehicle Company.” This approach proposes to target companies that sell passenger cars in China (including importation of passenger vehicles). The company's average fuel consumption (CAFC) and new energy passenger vehicle production (NEV points) will be scored and assessed. Enterprises that have not paid for the new energy vehicles will be suspended from production of high fuel consumption models. The quantity of conventional energy passenger vehicles produced in the next fiscal year will be no less than the number of uncompensated negative credits. This policy will be formally implemented on April 1, 2018.

Interpretation: For car companies, this means that if the new energy score is negative in the previous year, the corresponding number of conventional energy car production will be suspended in the second year. Faced with this change, car companies can use all the stops.

New energy subsidy policy or change

Prior to this, the Ministry of Finance convened four ministries and commissions, experts in associations, and representatives of major companies to discuss the direction of subsidy adjustment for new energy vehicles in 2018. It is intended that the 2019 subsidy standard be adjusted to be implemented in 2018. Judging from the information currently exposed, the subsidy program for new energy vehicles will be further refined in 2018, and the cruising range and battery energy density of the vehicles will be further divided in detail, and the corresponding subsidy amount will be set.

Interpretation: Although the official policy has not yet been announced at this stage, no matter what changes will be made to the subsidy program for new energy vehicles in 2018, the importance of the battery density and cruising range of the pure electric vehicle has become prominent. In order to cope with the decline in subsidies, many auto companies have focused on vehicle cost control to achieve profitability without relying on subsidies for new energy vehicles.