China's auto market in 2003, looking ahead, is still booming. On the occasion of the 50th anniversary of the establishment of the Chinese automobile industry, the total number of cars in the world is expected to leap to the fourth place in the world. In particular, the rise and rapid growth of the car industry in the past two years have made the major varieties of Chinese cars have been approaching international standards in terms of performance and quality. The gap between car prices and the international market is gradually narrowing. The Chinese car market is in line with international standards. It may not be long-term.
However, in the overall rapid development of the automotive market, there are still too many discordant phenomena: despite the continuous cry, the increase in prices of tight auto dealers remains the same; Growth, but the full purchase of cars is still popular; top luxury car hot; home appliances, mobile phone manufacturers to enter the automotive industry; the end of inventory increases, manufacturers forced dealers to "eat the library."
Reduced inventory pressure for dealers
According to the data disclosed by the China Association of Automobile Manufacturers, from January to October, China produced 3.561 million automobiles, a year-on-year increase of 34.25%; sales of automobile were 3,478,800, an increase of 29.79% year-on-year, and the difference between production and sales reached more than 80,000 vehicles. The number of domestic key auto companies has exceeded 30,000. Close to the year, in order to ease the pressure on the inventory, auto makers have made every effort to solve their problems.
In addition to using the most common tricks of price-cutting promotions, automakers are shifting their inventory into distributors' inventory. A Shanghai-based dealer leader reluctantly stated: "The vendor requires me to receive an additional 100 vehicles, otherwise Next year, I will cancel my qualification as a franchiser.†According to him, like the 4S shop that was just built this year, by the end of the year, manufacturers will give rebates to the dealer’s 4S store construction costs based on the number of dealers selling cars. Said that the cost of building a 4S shop is 8 million yuan. If dealers can complete this year's sales tasks, manufacturers can "rebate" 95%, which is 7.6 million yuan. However, if you do not complete the task or "do not listen," there is no "rebate." Most dealers are subject to "rebate" deterrence, and the requirements of the manufacturers are almost unconditionally obedient.
If the dealer is unable to pay for the cost of the vendor's transfer of the inventory vehicle, the manufacturer will also guarantee its bank loan and subsidize the interest on the bank loan, and the dealer can only swallow his brains to consider how to sell the inventory transferred by the manufacturer. In front of car manufacturers, dealers do not have dignity.
Cash purchase
There have been reports that after Guangben Fit was listed on the market for 99,800 yuan, a consumer in Beijing would like to buy a car with a price of 150,000 yuan. In China, it is still quite common to carry lots of cash to buy cars. Ding Yi, a veteran industry professional who has worked in the automotive industry in North America for many years, said with a smile: In North America, most people think that buying cars with cash is a fool! The smart people are using the bank's money to buy cars. In North America, the number of people buying loans for cars accounts for more than 90% of the total number of cars purchased. The low interest rate subsidized by automakers for financial institutions has greatly promoted auto consumption. There are very few people who buy cars with cash, because the interest on car loans is very low. Many dealers also offer zero down payment to customers with good reputation. Even a rich man with 10 million assets must use a manufacturer’s loan to buy a car. This is because low interest rates and monthly payment can increase personal credibility, and monthly payments can also be included in the calculation of the company’s costs for tax deduction. .
Ding Yi said that in China, the purchase of cars by various types of loans has not yet commenced. The most important issue is the establishment of China's personal credit system. China's state-owned banks have just started their business with personal loans, and consumer awareness of car loans is not yet strong. However, the impact of foreign financial giants on the domestic market in recent years has brought new ideas and competitions. It is believed that various types of loans for car purchase will gradually be carried out in China in the future.
"Lady" hot money
"Layers" hot money has become a major feature of Chinese cars in 2003. BYD acquired Qinchuan Automobile, Xinfei Refrigerated Truck, Midea Group's "Yunnan Automobile Integration Project" and Greencool's restructuring of Yangzhou Yaxing. However, the outcome of layman’s repairs is still unknown, but the market outlook is not optimistic. According to statistics from the China Association of Automobile Manufacturers, the top 15 companies in China’s auto production have accounted for more than 90% of the country’s market share. Hundreds of auto manufacturers survive in less than 10% of the country's markets.
In the ranks of non-mainstream car manufacturers, the first entrants may gain development by entering the heavy truck or other market segments to avoid the brutal competition in the car market, but this situation is gradually becoming severe. Although the fierce competition in the domestic auto industry is mainly reflected in car products, the international auto giants will surely enrich their product lines in China after they have established a solid foothold in China. By then, the market competition for heavy trucks, pickup trucks, SUVs and MPVs will become more intense. Behind the prosperous Chinese auto market, how long can the "foreign" automakers persist?
New car prices
According to the convention of the international automobile market, the life cycle of a new car after listing is at least 3 years. However, in China, the new car will be cut in price promotion only six months after the listing. According to statistics, of the models that have announced price reductions this year, more than 70% of the models are less than a year old.
In the Chinese auto market, prices are still "killers." There are more than 50 kinds of models that are newly listed this year. Many auto manufacturers have increased their production capacity due to overestimation of the market's spending power. Inventories are the fundamental reason for price cuts. Coupled with a diversified market and consumers advocating more personalized models, the newly-listed models cannot maintain a long period of hot sales, and reducing prices in the short term can have an immediate effect. However, price reductions are also fatal for car brands. It can be seen that the performance of Chinese auto makers is too quick and immediate.
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