How Automobile and Parts Industry Cope with the Financial Crisis
In the context of the global financial crisis, the macro background and external environment of the development of the auto industry are still not optimistic. First, the international financial crisis is still developing in depth. The international economic situation can hardly be improved in the short term. Second, China has become the main battlefield for global auto industry competition. In the next year and afterwards, market competition will be extremely fierce and independent brand enterprises will face more. Big competition pressure; third is the rise of trade protectionism, which is detrimental to China's auto and parts exports. In this situation, favorable policies and measures should be introduced as soon as possible to promote the healthy development of the automobile industry. (I) To maintain the rapid and steady growth of the automobile industry as a priority for maintaining growth and ensuring employment The automobile industry has become the pillar industry of our national economy. In 2007, the auto industry achieved an added value of 411.4 billion yuan, accounting for 1.66% of GDP; direct and indirect employment of the auto industry reached 2.65 million and 30 million; four taxes such as auto consumption tax accounted for more than 4% of the national tax revenue. According to the input-output relationship, the backward pulling coefficient of the auto industry on GDP is 2.74. In 2007, the auto industry and its driven industries (excluding service industry) accounted for 4.51% of GDP and accounted for 10% of industrial added value. For .57%, the contribution to industrial growth of 13.5% was 1.79 percentage points. If we assume that the contribution of autos to industrial growth is roughly the same as in 2007, we should maintain a 10% increase in industrial added value in 2009 (in order to maintain GDP growth of 8%), and the auto industry needs to maintain a growth rate of around 13%. (B) Stabilizing the automotive consumer market by stimulating market and fiscal policies Since the outbreak of the financial crisis, the major auto-government governments have extended policy assistance to their auto industry. One of the important means is to stabilize and expand domestic consumption through fiscal and tax incentives. From our country's situation, the incentive policies that the government can consider are: The first is to extend the time limit for vehicle purchase tax. At present, the national purchase tax levied on the purchase tax will be continued until December 31, 2009. According to the current severe market situation, the purchase tax may be extended for another two years. At the same time, the purchase tax on new energy vehicles is also Halve or exempt. The second is to cancel the consumption tax on small-displacement vehicles. It is proposed to abolish the consumption tax on small-displacement vehicles with a current consumption tax rate of 1%. When conditions are ripe, consider combining consumption tax and purchase tax into one tax type, and set different tax rates based on engine displacement or fuel economy. The third is to implement and improve the financial subsidies for new energy vehicles. The state has provided financial subsidies for the purchase of new energy vehicles in the taxi, bus, and official industries in 13 pilot cities. The next phase of the work focuses on: effectively implementing the aforementioned subsidy policies, especially for government procurement of new energy vehicles of its own brand. Tilt; improve the financial subsidy program as soon as possible and promote it in related industries across the country; timely expand the scope of financial subsidies for new energy vehicles to the private car sector. The fourth is to implement the "automobile to the countryside" financial subsidy policy. First, it is necessary to simplifiably simplify the procedures, shorten the return period of financial subsidies, ensure that the financial subsidies actually fall into the hands of qualified farmers, and secondly, strictly regulate the market and prevent the inflow of unqualified products with quality defects or high fuel consumption and pollution. The third is to improve the after-sales service network and service personnel training in the rural market so as to prevent farmers from appearing “can afford to repair cars without repairâ€. The fifth is to provide financial subsidies for the early retirement of vehicles. For those consumers who fail to meet the statutory retirement standards and implement vehicle scrapping in advance, the state can provide certain financial subsidies. Sixth, improve the auto finance policy, expand the auto financial market, and promote auto consumption. In 2008, only one private auto finance company was established. At present, the total number of auto finance companies is only 10, and it mainly serves the product credit of its affiliated auto companies. In terms of long-term development, the auto financial market needs to be further expanded. It is possible to consider allowing existing auto finance companies to expand their business scope into the insurance sector; to encourage the development of comprehensive auto financial service companies and to expand their service targets from single car manufacturers to multiple autos. manufacturer. (III) Increase the support for independent innovation and increase the added value and competitiveness of products Increasing investment in R&D is currently a top priority in improving independent innovation capabilities. The gap between China’s auto industry and foreign auto companies in terms of R&D investment and independent innovation is still significant. First, the proportion of R&D investment and sales revenue is still at a relatively low level. In 2007, China’s auto industry’s R&D investment was 30.88 billion yuan. Yuan, accounting for 1.8% of sales revenue, while the proportion of developed countries in the automotive industry is generally about 4.2%; Second, R & D personnel account for a relatively low proportion of all employees, in 2007 China's share is still less than 5% , And foreign big car company is about 10%; Third, the proportion of independent brands is relatively low, in 2007 the production and sales of self-owned brand cars accounted for only 26% of the total production and sales of cars. Fenghua Jade Motor Co., Ltd. , http://www.chinaencoder.com