“Our store has been closed since November 23, and we have not yet notified when it will resume business.” A few days ago, an employee of a 4S store of a luxury brand in Beijing told the “Daily Economic News” reporter that he and his wife were in different brands of 4S stores. The store work is now unable to work normally.
The reporter learned that the above situation may not be an isolated case. In an auto trade park located in Shijingshan District, Beijing, most of the stores are still “closed”. Only two brand stores are on duty, but there are very few people in the store.
The reporter learned that the above situation may not be an isolated case. In an auto trade park located in Shijingshan District, Beijing, most of the stores are still “closed”. Only two brand stores are on duty, but there are very few people in the store.
The terminal chill is also backed up by the data. The latest VIA (Vehicle Inventory Alert Index) released by the China Automobile Dealers Association (hereinafter referred to as the Circulation Association) shows that 41.2% of the dealerships are closed, and most of them are closed. The time is more than two weeks; more than 73% of the dealers cannot complete the sales task, and 61.1% of the dealers have a task completion rate of less than 80%.
“Dealers’ plans to hit their annual sales targets at the end of the year were disrupted, the store’s passenger flow declined, and sales were lower than expected. The increase in inventory and the shortage of working capital caused some dealers to use some means to ease operating pressure.” The circulation association said. .
Photo source: Photo by Liu Guomei, Daily Economic News (data map)
In fact, as early as October this year, most car dealers have already felt the “coolness”. On the one hand, automobile consumption in October showed the characteristics of “not busy in the peak season”, and the demand in the automobile market weakened, resulting in a loss of sales to a certain extent; The concentrated release from June to September also has a certain overdraft for the effective market demand in October.
As the overall demand fell short of expectations, the operating pressure of auto dealers increased in October. According to the survey results of the China Automobile Dealers Association, only 19% of the dealers believe that the manufacturer’s sales tasks can be completed in October, 26.2% of the dealers believe that the completion rate is between 90% and 100%, and 54.8% of the dealers believe that the completion rate is insufficient 90%.
By November, the situation had not improved significantly. The results of the latest “China Auto Dealer Inventory Early Warning Index Survey” show that in November, my country’s auto market demand, average daily sales of dealer stores and other indexes declined. Among them, the market demand index fell by 7.8% month-on-month, and the average daily sales volume of stores also fell by 8.5 percentage points.
Image source: Circulation Association
As a key node of the impulse at the end of the year, the weak market demand further pushed up the inventory pressure of dealers. According to the survey data above, the inventory warning index of Chinese auto dealers in November was 65.3%, a year-on-year increase of 9.9 percentage points and a month-on-month increase of 6.3 percentage points. The inventory warning index was above the boom-bust line.
Image source: Circulation Association
As a “barometer” of demand in the automobile market, the level of the dealer inventory warning index reflects the circulation status of the Chinese auto market. The higher the inventory warning index means the lower the market demand, the greater the inventory pressure, and the greater the operating pressure and risk. .
Right now, most dealers have to face not only the momentum pressure at the end of the year, but also sales fluctuations caused by weakening market demand, which makes the operation of some dealers into difficulties. Data show that in November, my country’s dealer operating index fell by 8.1% month-on-month; the employee index fell by 6.5%.
“Most dealers are relatively pessimistic about the market in December, thinking that it is difficult for the auto market to reproduce the enthusiasm at the end of previous years, and the possibility of tailgating is low.” Lang Xuehong, deputy secretary-general of the China Automobile Dealers Association, said that due to the blockage of dealer operations, consumption Due to the weakening demand of consumers for car purchases, it is estimated that the sales volume of automobile terminals in November will be about 1.7 million.
However, there are also views that as the passenger car purchase tax subsidy and new energy subsidy policies are coming to an end, and next year’s Spring Festival will be brought forward to mid-January, consumer demand for car purchases at the end of the year may be released intensively, and the domestic auto market is expected to pick up in December.
In addition, Lang Xuehong said that most dealers hope that the purchase tax halving policy as of the end of this year can be continued, and the scope of benefits will be expanded to cover all passenger cars. At the same time, the Circulation Association hopes that local governments will continue to introduce promotional policies such as cash subsidies, rent reduction, and issuance of car purchase coupons, and calls on OEMs to moderately adjust dealers’ sales targets according to the actual situation of the epidemic, so as to reduce dealers’ inventory and financial pressure.
“If the policy (the policy of halving the purchase tax for passenger cars) is not continued next year, the domestic auto market will experience ‘tail hike’ growth in the fourth quarter of this year. Because consumers will seize the tail of this policy bonus to speed up car purchases, while enterprises will It will also speed up the supply.” Chen Shihua, deputy secretary-general of the China Association of Automobile Manufacturers, analyzed that in this way, due to the policy-driven consumption in advance, the domestic auto market sales will decline significantly in the first year of next year, and may even experience a cliff-like decline.
This article is from the WeChat public account “NBD Auto” (ID: NBD-AUTO) , author: Dong Tianyi, 36 Krypton is authorized to publish.
media reports
36Kr Sina Sina
related events
- The latest survey by the China Automobile Dealers Association: Nearly half of the auto dealership stores are closed, and more than 70% cannot complete the sales task2022-12-02
- The halving of passenger car purchase tax has not yet finalized the industry’s controversial stimulus effect2018-10-30
- Reuters: China Automobile Dealers Association proposes to halve purchase tax for 2.0L and below2018-10-12
- New energy vehicle purchase tax exemption policy extended to 20202017-12-27
This article is transferred from: https://readhub.cn/topic/8loy7vIBsDt
This site is only for collection, and the copyright belongs to the original author.