This year's auto market price changes
In the first three quarters of this year, the prices of the national automotive market generally remained stable, with a declining rate of decline compared with the same period of last year. In the first and second quarters, the production and sales of the national automotive market maintained a steady increase, and the car prices have steadily declined. In the third quarter, the production and sales of automobiles slowed down. In July and August, the national automobile production and sales all declined. However, it still maintained a growth momentum compared with the same period of last year. The price of automobiles was generally maintained a moderate decline due to changes in market supply and demand, especially for passengers. The car price did not show the trend of accelerated decline in the same period of last year.
This year, the auto market price has not experienced significant fluctuations. Although a large number of new models have been listed in the first three quarters, the price game between old and new models is still fierce. Many new cars are under the market for less than three months, and they face price cuts, but the market does not In the past, the prices of one or a few models have been adjusted to a deeper level, causing many manufacturers to follow suit to reduce their prices significantly. The market has shown a steady downward trend. In addition, the first three quarters of domestic fuel prices have been driven by international oil price shocks, making the market demand for small cars with low-emission fuel consumption and economic growth, individual species prices have also risen slightly in the short term, but the price increase factor is only part of The price of the model has a certain impact, and it has little effect on the overall price change.
Later year's price trend forecast
It is expected that the automobile price in the latter period will be affected by seasonal factors and will continue to maintain its downward trend. In the fourth quarter, with the approaching year's end, old models will face upgrades and competition will become more intense. Manufacturers are pressured to clear inventory, return funds, and strengthen the mentality of consumers to buy their currencies, and they are bound to take measures to cut prices. Lead to car prices will continue to decline. Therefore, under the circumstance that China's macroeconomic environment continues to improve and that the auto market's production and sales maintain steady growth, it is expected that the annual automobile prices will be steadily declining, and the decline rate is expected to be controlled within 3%, which is lower than the decline of the same period of last year. This year, the main reasons for the steady decline in the prices of autos during the year are as follows: First, macroeconomic control policies have begun to show results and have played a positive role in maintaining the stability of the auto market price. In recent years, China's auto market has maintained a momentum of rapid growth, and the situation of oversupply has already emerged. In order to maintain the healthy and stable development of the automotive market, the government has adopted a control policy of blocking congestion since the beginning of the year. On the one hand, it moderately controls the scale of investment in automobiles, encourages competition in the industry, curbs excessive investment through market mechanisms, and on the other hand increases access to the automotive industry. The supervision of the system will improve the industry's access threshold, avoid the excess of auto products caused by low-level redundant construction, and achieve initial results.
The second is the acceleration of the frequency of new car listings, aggravating the price competition between new and old models, and driving the continuous decline in car prices. Since the beginning of this year, more than 80 new models or new configuration models have been launched. The market averages close to 10 new models per month, covering almost all high-, mid- to low-grade models, and new car pricing is gradually declining. Before the end of the year, there are still a large number of new cars that will be listed on the market successively. The alternation of new and old models is conducive to promoting the development of the market, but also provides consumers with diversified choice opportunities, but at the same time further exacerbating market competition and forcing Some old models with the same or similar grades make price reductions. Therefore, the frequent introduction of new cars at low prices has become an important factor in the decline in automobile prices this year. However, there has been no significant and wide-ranging price adjustment in the market. The main reason is that most of the mainstream products in the market since the beginning of this year have converged in terms of appearance, control power, and safety performance. The price is even tighter. Simple price competition has made it difficult to stimulate demand growth. Manufacturers are no longer tight. The market price is gradually shifting from a single price competition to a full range of high-level competition such as product performance, consumer credit, and after-sales service. The adjustment of the price of automotive products is becoming more and more rational, and the market price has remained stable to some extent.
There are many factors affecting the decline in car prices before the end of the year
Recently, the price of the means of production has fallen sharply, which will lead to a reduction in the cost of production of bicycles and drive down the price of vehicles. In the first quarter of this year, driven by the sharp increase in the prices of upstream production materials such as steel and rubber, the cost of automobile production increased and profits declined. The price of some automobile varieties also rose by a certain margin. However, the price of steel products continued to fall in the second quarter, in particular, the price of sheet metal used for automobile production dropped drastically, which directly led to the reduction of automobile production costs. Currently, the price of sheet metal is still running at a low level, and it is already lower than the level at the beginning of the year and is expected to be again during the year. It is unlikely that there will be a substantial increase.
At the same time, the increase in the scale of production capacity of automakers this year, as well as the continuous decline in operating costs and financial costs, has also contributed to the reduction of bicycle production costs to a certain extent, and has further promoted the decline in auto prices.
In the first three quarters, the domestic automobile credit consumption policy remained tight, and the market for car loans was relatively high, which gradually reduced loan purchases. At present, the proportion of loan purchases has dropped to 10%, slowing down and reducing the growth in car consumption demand.
At the same time, some consumers have postponed or canceled purchases due to the introduction of auto fuel tax, the increase in the cost of car repairs, insurance, etc., the increase in domestic fuel prices, and the difficulty in traveling and parking caused by unsound urban road transportation facilities. The plan also slowed the car consumption demand to a certain extent, and promoted the decline of car prices.