On January 1, the Ministry of Finance and other four departments jointly issued the Notice on the Financial Subsidy Policy for the Promotion and Application of New Energy Vehicles in 2022 (hereinafter referred to as the Notice). According to the Notice, in 2022, the subsidy standard for new energy vehicles will be reduced by 30% on the basis of 2021.
The increased cost of car purchase after the decline of the "national supplement" will be borne by consumers themselves, and some car companies have announced price increases.
Image according to IC photo
However, this does not affect the strong growth momentum of new energy vehicles. Major domestic new energy vehicle companies have recently released sales in December 2021 and sales in 2021, and Xiaopeng Automobile (09868.HK/XPEV.US) has become the annual sales champion of "new car-making forces".
It is worth mentioning that although most of the new car-making forces have not yet achieved profitability, the annual "double points" test has come, and although the new car-making forces cannot make money by selling cars, they can make a lot of money from the new energy points transaction.
Subsidies for new energy vehicles will decline by 30% in 2022
On January 1, the Ministry of Finance, the Ministry of Industry and Information Technology, the Ministry of Science and Technology and the Development and Reform Commission and other four departments jointly issued the "Notice", which clarified that in principle, the annual subsidy scale is capped at about 2 million vehicles, and the subsidy scale should be smoothed out, and the subsidy standards for 2020-2022 will be reduced by 10%, 20% and 30% respectively on the basis of the previous year, that is, the subsidy standard for new energy vehicles in 2022 will be 30% on the basis of 2021.
In 2021, pure trams with a range of 300km-400km can enjoy a subsidy of 13,000 yuan; in 2022, the slope will be reduced by 30%, that is, a reduction of 3,900 yuan subsidies;
In 2021, pure trams with a range greater than 400km and a price of less than 300,000 yuan can enjoy a subsidy of 18,000 yuan; after a 30% decline in 2022, the subsidy will be reduced by 5,400 yuan;
Hybrid models with pure electric endurance NEDC working conditions greater than 50km, or WLTC working conditions greater than or equal to 43km, and the price is less than 300,000 yuan, enjoy 6800 yuan subsidies in 2021; after 30% decline in 2022, reduce the 2040 yuan subsidy.
In particular, the Notice points out that "the implementation period of the financial subsidy policy for the promotion and application of new energy vehicles will be extended to the end of 2022 based on factors such as technological progress and scale effect". That is to say, the national subsidy policy in 2022 will continue for one year, and new energy vehicles licensed after December 31, 2022 will not be able to enjoy the subsidy policy.
In addition, in 2022, the subsidy standard for urban buses, road passenger transport, taxis (including online car-hailing), sanitation, urban logistics and distribution, postal express, civil aviation airports and new energy vehicles in the field of party and government organs that meet the requirements will be reduced by 20% on the basis of 2021.
Some new energy brands announced price increases
The "national supplement" of new energy vehicles has declined by 30%, and some new energy vehicle brands have proposed a limited-time price insurance strategy and announced that they will increase the price of products after entering 2022.
The 2022 car purchase subsidy plan released by NIO (NIO.US) on December 31 shows that users who pay a deposit before December 31, 2021 (inclusive) and successfully pick up their car before March 31, 2022, can enjoy subsidies in accordance with the 2021 national subsidy standards, and the difference is borne by NIO.
Xiaopeng Automobile announced that users who paid the deposit from January 1 to 10, 2022 can enjoy the same subsidy policy as in 2021, and the subsidy difference will be borne by Xiaopeng Automobile.
That is to say, Weilai and Xiaopeng users who pay a deposit or successfully pick up the car after a limited time need to bear the increased cost of car purchase by subsidizing the decline.
The ideal car (02015.HK/LI.US) in "Wei Xiaoli" currently has only one ideal ONE model, and it will not enjoy the national supplement in 2021, and this time it will not be affected by the decline.
Affected by the decline in subsidies for new energy vehicles, Tesla (TSLA) recently announced that the price of the rear-wheel drive versions of model 3 and Model Y will be raised by 10,000 yuan and 21,000 yuan respectively.
Volkswagen's ID.6 CROZZ and ID.4 CROZZ, two pure electric models, will rise by 5,400 yuan overall from January 1, 2022.
GAC AEan said that from January 1, 2022, E-An LX will increase its price by 4,000 yuan, starting at 230,000 yuan.
Nezha Automobile and Feifan Automobile have also said that they will adjust their prices after January 1.
The additional benefits of new energy vehicle companies under the "double integral" examination
Major domestic new energy vehicle companies have recently released sales in December 2021 and sales in the whole year of 2021.
In December 2021, Xiaopeng Automobile delivered a total of 16,000 new cars, which is the highest-selling new car-making force; in 2021, a total of 98,155 new cars were delivered, winning the annual sales championship;
NIO delivered 10,489 vehicles in December, with a total of 91,429 vehicles delivered throughout the year;
Ideal Car delivered 14,087 units in December, with a total of 90,491 deliveries throughout the year, ideal ONE is currently the highest selling single product among domestic new forces;
Nezha Automobile delivered 10,127 vehicles in December, with a total of 69,674 vehicles delivered throughout the year;
Zero-run vehicles delivered 7,807 units in December, with a cumulative delivery of 43,121 vehicles in the whole year.
Although sales have increased steadily, the new car-making forces are not profitable at present. Taking Xiaopeng Automobile as an example, according to CCTV Finance, Xiaopeng Automobile lost about 62,000 yuan for every car sold.
However, the new car-making forces can earn a large amount of additional income by selling points, and even achieve a turnaround.
Tesla is a typical example of "selling a car without earning points". In 2020, Tesla earned $1.58 billion through the sale of carbon credits, compared to Tesla's net profit for the year of $721 million.
The annual "double points" test has arrived. According to the Notice on Matters Related to the Accounting of Double Integrals in 2021 issued by the Ministry of Industry and Information Technology, December 31 is the deadline for filling in the values of various parameters of double integrals. If the double points do not meet the standard, car companies will face penalties such as suspending the declaration and production of high-fuel consumption products.
One way to solve the negative points is to transfer affiliates, such as GAC Aeon, which also belongs to the GAC Group, to GAC Honda; the other is the points transaction, the sellers are mainly Tesla, BYD (002594. SZ), "Wei Xiaoli" and other new car-making forces. At present, the trading market price of points exceeds 3,000 yuan / cent.
In the past two years, some auto groups have tried to pull new energy positive integration by launching A00 and A0 class pure electric models. Wuling Hongguang MINIEV, Changan made Benben E-Star, Chery Little Ant and other models with low-price strategy to obtain amazing sales, the corresponding positive points of new energy hedged the negative fuel points in the group; Volkswagen ID series sales increased steadily, sales exceeded 70,000 in December, but in the face of SAIC Volkswagen and FAW-Volkswagen's huge fuel vehicle sales, the new energy positive points that can be written off can only be regarded as a cup of water.
Increasing the number of hybrids is also a path to reduce the negative integration of fuel consumption, such as this year's Changan Automobile Blue Whale iDD Hybrid, BYD DM-i Super Hybrid, Great Wall Lemon Hybrid DHT, Chery Kunpeng Hybrid DHT...
Red Star News reporter Wu Danruo
Responsible editor Ren Zhijiang
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