Will the price of new energy vehicles increase |? The subsidy standard has dropped by 30%, and car companies have revealed countermeasures

Everyday Finance exclusive, quick attention

At the beginning of 2022, the new energy automobile industry ushered in challenges. According to the "2022 New Energy Vehicle Promotion Subsidy Plan" released a few days ago, the subsidy standard for new energy vehicles has been reduced by 30%, and the plan will be implemented from January 1, 2022.

A survey by a reporter from China Securities News found that new energy vehicles are passing the inflection point of marketization and gradually getting rid of the dependence on financial subsidies. The vast majority of car companies are not eager to raise prices, but put the maintenance of market share in a priority position.

Industry insiders pointed out that as the new energy vehicle market shifts from policy-driven to demand-driven, even if the subsequent car companies raise prices, the impact on sales is expected to be limited. The intensive listing of a large number of high-quality models is expected to drive the new energy vehicle market to continue to maintain rapid growth in 2022.

Most car companies wait and see

For the specific impact of the subsidy decline, Dongxing Securities calculated according to the subsidy plan that the subsidy for pure electric passenger cars that meet the "300 km ≤ mileage <400 km" in 2022 is reduced by 3900 yuan compared with 2021, the 2022 subsidy for pure electric passenger cars that meet the "cruising range ≥400 km" is reduced by 5400 yuan, and the subsidy for plug-in hybrid (including extended range) passenger cars is reduced by 2022 by 2000 yuan.

Industry insiders pointed out that since the subsidy is subsidized by the state to car companies, if the car companies do not increase prices, it will directly increase the cost of car companies.

Wang Yanyan, sales manager of Nezha Automobile, told the China Securities News reporter, "Our current guidance price has not changed, and the possibility of raising the price in the future is not ruled out." ”

Before New Year's Day, Tesla has taken the lead in announcing price increases. On December 31, 2021, Tesla's official website in China showed that the price of the Model 3 rear-wheel drive version was adjusted to 265,652 yuan, an increase of 10,000 yuan compared with the previous price; the price of the Model Y rear wheel drive version was adjusted to 301,840 yuan, an increase of 21,088 yuan compared with the previous price.

However, most car companies are in a wait-and-see state for whether to respond to the decline in subsidies through price increases. "Since 2021, the cost of chips, power batteries and other parts has been under great pressure, and now the subsidies are declining, and the cost pressure of car companies is even greater." The relevant person in charge of Great Wall Motor told the China Securities News reporter, "The new energy vehicle market is so hot, many car companies will give priority to ensuring market share and choose to wait and see." ”

China Securities News reporters visited a number of car companies 4S stores found that the terminal price of popular new energy vehicles such as Great Wall Euler and BYD has not been adjusted. "Before the lunar Chinese New Year's Eve (January 31), GAC will continue the new energy subsidy policy in 2021, and the follow-up company will adjust it according to the relevant policies." Zhang Li, sales manager of GAC Aean, told the China Securities News reporter.

In addition, the subsidy decline has little impact on many high-end models. "The proportion of subsidies to the price of Weilai's vehicles is very low, and it has no impact on Weilai's sales." Ma Lin, head of corporate communications at Weilai, told reporters, "We have a short-term insurance subsidy policy. Subsidies are declining every year, and we believe that the overall impact of subsidies on the market is no longer large. ”

New energy vehicles have great potential for price reduction in the future

It is worth noting that due to the fear of car companies raising prices after the subsidy declines, before New Year's Day, there was a wave of "snapping up" climax of new energy vehicles in the market.

"Judging from the communication with consumers, I feel that the difference of three or five thousand yuan does not constitute a priority option for whether to buy a car." Wang Ming (pseudonym), the head of a 4S store, told China Securities News, "From the perspective of the new energy vehicle market in the past two years, models like Wuling Hongguang MINI EV that do not enjoy new energy vehicle subsidies are also selling well." ”

The head of a car company told the China Securities News reporter, "I think the new energy vehicle market has entered the era of product-driven. In fact, after the pace of decline from 2020 is determined, car companies are competing with models. The reason why the new energy vehicle market in 2021 exceeded expectations, although subsidies are on the one hand, but more core is that with the large number of new models listed, the high-quality supply of the new energy vehicle market has greatly increased. ”

Although there is upward pressure on the short-term purchase cost of new energy vehicles, in the long run, price reduction is the trend of the times. Cui Dongshu, secretary general of the Association, pointed out that new energy vehicles have great potential for price reduction in the future. On the one hand, the continuous increase in battery production capacity can reduce the purchase price of batteries; on the other hand, new energy vehicles have a scenario-based travel direction, and can customize the existing structure of corresponding products according to different use scenarios, which is expected to reduce the cost of the vehicle.

In addition, the large number of high-quality models listed will continue to be the biggest driving force for the continuous upward movement of the new energy vehicle market.

CITIC Securities pointed out that with the stable landing of the subsidy policy in 2022 and the continuous launch of superimposed high-quality models, the industry's intelligent electric trend will continue to accelerate, promoting the electrification and intelligent prosperity. Domestically, it is expected that domestic new energy vehicle sales will reach 4.8 million units in 2022, an increase of 38% year-on-year.

Editor: Li Ruoyu Zheng Yashuo