According to the data released by the passenger Federation on the 29th, the retail sales of passenger cars in the first four weeks of April (from January to 25th) generally recovered relatively quickly. The average retail sales of 35300 vehicles in the first four Sundays decreased by 1.6% year-on-year. April recovered significantly, with a year-on-year decrease of 42% in the first four weeks of March.
Specifically, the retail performance of passenger car market in the first week of April (1-6) was weak, with an average retail sales of 21900 vehicles on the first Sunday, a year-on-year growth rate of 35%.
In the second week of April (7-12), retail sales of passenger car market rebounded relatively strongly. On the second Sunday, the average retail sales of 33500 vehicles increased by 14% year-on-year. The overall recovery of sales volume in the second week was obvious. The overall recovery of sales volume in the second week was faster, but it should not be too optimistic. The sales volume in the first week was affected by the Qingming holiday of the same period from May to 7th. There were four working days in the same period in the first week of last year and three working days in the first week of April this year. Therefore, the growth rate of the first week was very poor, and the second week was very good, forming a certain difference.
In the third week of April (13-19), the recovery of retail sales of passenger car market was relatively stable. On the third Sunday, the average retail sales of 36900 vehicles decreased by 0.5% year-on-year. In the third week, the overall sales volume recovered smoothly, and some automobile factories in Hubei resumed production quickly, which contributed a lot to the promotion of vehicle market sales.
In the fourth week of April (20-25), the retail sales of passenger car market rebounded relatively smoothly. On the fourth Sunday, the average retail sales of 48700 vehicles increased by 12% year-on-year.
The SFC said that the rebound in the market in April reflected the steady improvement in the retail market from the impact of the epidemic. From the perspective of recovery progress, the phenomenon of explosive growth in demand is gradually reflected. If the growth rate of the first week and the second week is flattened, the current year-on-year performance of the rapidly increasing sales volume every week is relatively strong. Although the government has drawn up a car market stimulus policy and some urban policies have actually come into effect, the effect of the policy in the start-up period is generally not very prominent, and the effect of the last bus before the policy withdrawal is obvious.
With the spread and long-term trend of foreign epidemic situation, consumers’ response to the epidemic normalization measures has further strengthened the demand for private cars, and the demand for car purchase is relatively good in the near future, according to the travel Federation.
In April, the wholesale market of passenger cars gradually strengthened
According to the data of the Travel Association, the average daily wholesale of 37200 vehicles in the first four weeks of April, with a year-on-year growth rate of 0.8%, is stronger than the growth rate of 56% in the same period of last month.
According to the analysis of the travel union, the frequency of dealers’ purchase has gradually returned to normal due to the comprehensive resumption of assessment and reward by manufacturers in April. From the first to the fourth week of April, the daily average of wholesale vehicles reached 37200 units, but the retail sales reached 35300 units. The trend of wholesale and retail sales returned to the normal situation that wholesale was larger than retail sales, which is a good thing.
The association pointed out that the recent retail recovery is slightly better than expected. Compared with the gradual recovery of retail inventory in the current period, the problem of insufficient inventory is doubly prominent. The restoration of normal sales promotion mode by dealers will also boost sales volume.
The first appearance of V-type inversion after the epidemic in China’s auto market
The association said that the year-on-year growth rate of retail sales in the first four weeks of April rebounded to – 2%. At present, the year-on-year growth rate of retail sales in April is – 6%, which is a good performance of market recovery. Considering that before the outbreak of the epidemic, the growth rate of retail sales in January was – 20%, that in February was – 80%, and that in March was – 40%. The retail sales in April should reflect the V-shaped reversal trend of China’s automobile market.
According to the analysis of the Travel Association, the main reason for the V-shaped reversal in April was the rapid recovery of production and sales. Under the strong promotion of the resumption of production and work by the state, the main automobile enterprises outside the core areas of the epidemic situation had basically resumed work in early March. At the end of March, Hubei automobile enterprises resumed work rapidly, which played a good role in promoting the recovery of automobile market production in April and the supply keeping up with the pace of retail sales.
Secondly, retail sales recovered relatively well. Under the concern of the long tail effect of the epidemic, the demand for rigid car purchase gradually broke out due to more people’s consideration of travel safety after the epidemic;
Third, because some demand groups pay more attention to the quality of travel after the epidemic, the demand for car change is also accelerating;
Fourth, the introduction and implementation of policies to promote consumption by the state and some local governments promoted the release of the demand for car purchase of the waiting-and-see consumer groups in the early stage.
The threshold of 300000 subsidy is reasonable
The passenger Federation pointed out that the notice on improving the financial subsidy policy for the promotion and application of new energy vehicles clearly stipulates that the selling price of new energy passenger vehicles should be less than 300000 yuan (including 300000 yuan), which is a good guiding policy. The first is to improve the efficiency of subsidies, subsidize mainstream products, and reduce subsidies for luxury and high premium products. At the same time, it is conducive to enhance the price competitiveness of new energy vehicles and realize the integration with traditional vehicle price system. Finally, the replacement speed of new energy vehicles for traditional fuel vehicles will be improved, and the penetration rate of new energy vehicles will be increased.
According to the Federation of passenger cars, the price of new energy passenger vehicles should be less than 300000 yuan before subsidy, which is a good forward-looking policy and has a good role in promoting the development of new energy vehicles. The subsidy ceiling of 2 million vehicles can provide greater support for mainstream products.