Following the introduction of relevant incentive policies such as purchase tax incentives and achievements, a financial subsidy policy that encourages the “replacement of old cars” has made the auto market once again a hot focus. This method of obtaining financial subsidies by redeeming the yellow car in advance and redeeming the new car has skillfully combined energy conservation and emission reduction with domestic demand, which has been widely acclaimed by the industry.

Experts believe that this policy, while stimulating domestic demand, effectively reflects the policy function of sustainable development and promotes the development of environmental protection.

$5 billion to encourage the trade-in

On May 19, the State Council executive meeting decided to adopt a financial subsidy approach to encourage home appliances and automobiles to “replace old ones.” On June 3, the State Council formally approved the National Development and Reform Commission and other departments to “promote the expansion of domestic demand and encourage the replacement of automobiles and home appliances”. Implementation Plan (referred to as "Implementation Plan").

The “Implementation Plan” proposes the specific subsidy scope, standards, and procedures for encouraging the “renewal of old cars”. In 2009, on the basis of arranging a subsidy for retiring old cars by updating the subsidy funds of one billion yuan, another four billion yuan will be allocated to medium-, light-, micro-duty trucks and some medium-sized passenger vehicles that meet certain service age requirements, as well as “yellow "Standard vehicles" will be scrapped in advance and replaced with new ones in a modest manner, giving a subsidy of not more than the purchase tax for a single vehicle of the same type. Specifically: 6,000 medium-sized trucks, 5,000 light-duty trucks, 4,000 micro-cargoes, 5,000 medium-sized passenger cars, 4,000 light passenger cars, micro-car 3,000 yuan, 6,000 yuan other models. According to the above subsidy standards, the central government implements subsidy funds for local governments. The local government can adjust the subsidy standards according to such factors as the model, number of years, and urban management of the “Yellow Label Vehicle”.

Li Jian, deputy director of the Environment Certification Center of the State Environmental Protection Administration, explained that in accordance with the relevant regulations, the qualified owners will sell the scrapped vehicles to qualified recycling vehicles for recycling and dismantling, and the recycling and dismantling enterprises The owner of the vehicle issued a certificate for the recovery of end-of-life vehicles. The owner of the vehicle obtained the subsidy funds on the basis of the certificates for the recovery of scrapped automobiles, certificates of cancellation, updated vehicle purchase invoices, and valid identification documents.

Commercial car players

The range of vehicle subsidies in the “Implementation Plan”: First, medium, light and micro-duty trucks and some medium-sized passenger vehicles that meet certain service life requirements. The second is the "yellow label car" that was scrapped in advance.

Yang Jinsong, head of sales of Dongfeng Commercial Vehicles, pointed out that compared with previous policies such as car-to-country and reduction of purchase tax of 1.6L or less, the "replacement of new products" has added medium-, medium-, and medium-size passenger cars to commercial vehicles. The increase in the number of new varieties is conducive to the recovery of commercial vehicles. He also said that the current incentive for car "renewal" program is undoubtedly a huge business opportunity for the commercial vehicle market. According to statistics, in Beijing last year a total of 350,000 yellow-labeled cars and old cars needed to be phased out, while Xi'an had about 840,000 vehicles, of which about 200,000 were old vehicles and the number of Guangzhou yellow-labeled cars was also 200,000.

According to the sales person in charge of Guangzhou Toyota's major customers, the trade-in for the new ones focuses on cross-border vehicles and commercial vehicles, which is reasonable. This is mainly due to the slower pace of car renewal in recent years. In 2008, this part of the market renewal began to recover. Now that this policy is just like rain, the pace of market renewal will certainly accelerate.

However, the car market is also a certain proportion of them, such as the old Carmen and other models, consumers will also consider taking this opportunity to replace. In contrast, the area of ​​cars is also within the scope of policy, but the number is relatively small.

The “Yellow Label Car” mostly uses Poussin and Xiali, which were on the market before 2000. Due to the relatively fast update frequency of cars, few vehicles in the central area of ​​a first-tier city like Beijing can be opened for more than 9 years, while the surrounding area will still maintain a certain number, and the replacement market between cars still has considerable potential.

First national implementation

The policy of replacing "yellow vehicles" with "green vehicles" has actually been implemented in Beijing since 2003. With the further restrictions on "yellow vehicles" in Beijing and other cities this year, the implementation of the "renewal of old" policy will be implemented. The "Yellow Label Car" will make a final farewell with us. Prior to this, Guangzhou, Hangzhou, and Beijing were the first to introduce yellow label car elimination encouragement policies or yellow label car limit policies, and achieved good results, but it was the first time that the nationwide implementation of the yellow label car and old car elimination subsidy program was still the first once.

The chief sales officer of Chery’s major customers believes that due to Beijing's prior measures on the “Yellow Label Vehicle” restriction line in the past two years, this “yellow label car” trade-in replacement measure has not caused the Beijing auto market to shake too much.

According to the data released by the Beijing Municipal Environmental Protection Bureau, as of May 11th, a total of 23,774 procedures for eliminating yellow-label vehicles have been handled in the window for the application of yellow-standard vehicle phase-out subsidies for all districts and counties in Beijing. Among them, 14,200 procedures have been eliminated, and 9470 for scrapping procedures. Pieces. This figure is still far from the latest estimate of 160,000.

At present, many European countries are implementing the "old vehicle scrapping subsidies." On January 14 this year, the German government announced that car buyers who scrapped more than 9 years of old cars could use up to 2,500 euros to purchase cars when buying a new car. By the beginning of April, the number of car buyers has reached 1.2 million, which is far higher than the 600,000 people originally expected. This policy has also achieved surprisingly good results. In March, German cars increased by 40%, setting the highest monthly sales record in 17 years. In April, sales continued to climb by 19%.

In addition, Italy, France, and the United Kingdom also successively introduced subsidies for the replacement of old cars, of which Italy’s maximum subsidy can reach 5,000 euros per vehicle. Both the United States and Japan are considering launching a similar plan, and Japan even considers subsidizing "hybrid hybrid cars and various electric models."