In 2022, the subsidy for the purchase of new energy vehicles will decline by 30% Some car companies have pushed the "limited-time insurance price" measure

The financial subsidy policy for new energy vehicles in 2022 was officially implemented on the eve of New Year's Day.

The Ministry of Finance and other four departments issued the "Notice on the Promotion and Application of Financial Subsidy Policies for New Energy Vehicles in 2022" (hereinafter referred to as the "Notice"), pointing out that in 2022, the subsidy standard for new energy vehicles will decline by 30% on the basis of 2021; the subsidy standard will be reduced by 20% on the basis of 2021 for urban buses, road passenger transport, taxi (including online car-hailing), sanitation, urban logistics distribution, postal express, civil aviation airports and vehicles in the official field of party and government organs. At the same time, in 2022, the framework and threshold requirements of the current purchase subsidy technical indicator system will remain unchanged.

For example, the subsidy for pure electric vehicles with a range of 300km (inclusive) to 400km is reduced to 9100 yuan; the subsidy for vehicles with a range of 400km (inclusive) or more is reduced to 12600 yuan; plug-in hybrid passenger cars (including range extenders), and the NEDC pure electric mileage of more than 50km (inclusive) is reduced to 4800 yuan.

It is worth noting that the Notice also clarifies that the subsidy policy for the purchase of new energy vehicles in 2022 will be terminated on December 31, 2022, and vehicles licensed after December 31, 2022 will no longer be subsidized.

This means that the era of financial subsidies for new energy vehicles in China is coming to an end.

The historical mission of the financial subsidy policy for new energy vehicles has also been completed. Zhang Xiang, a researcher at the Automotive Industry Innovation Research Center of North China University of Technology, said that in 2021, China's new energy vehicle sales and the proportion of new energy vehicles in new vehicles far exceeded the previously expected target, and sales in 2022 will be expected to reach 5 million, with the volume of new energy vehicles in 2022, the relevant promotion subsidy policies can be "assured" to achieve a complete withdrawal of subsidies.

According to data from the China Association of Automobile Manufacturers, in the first 11 months of 2021, China's new energy vehicle sales have reached 2.99 million, and the market penetration rate has increased from 9.4% in the first half of 2021 to 12.7%. Recently, BYD, Weilai, Xiaopeng, Ideal and other new energy vehicle companies announced the 2021 report card, and sales have achieved substantial growth.

In recent years, with the help of the central financial subsidy policy, China's new energy market has grown beyond expectations, sales volume and penetration rate have increased rapidly, and products, technologies and other aspects have achieved great development.

Lang Xuehong, deputy secretary-general of the China Automobile Dealers Association, said in an interview with the China Business Daily reporter that from the participation of traditional independent brands, to the participation of joint venture brands, and then to the new forces of car manufacturing in recent years, China's new energy market has shown a pattern of a hundred flowers, the number of products, the matrix is unprecedentedly rich, and the overall product strength has been significantly improved.

"In recent years, car companies have changed the past idea of oil to electricity through platform planning, developed pure electric platforms from scratch, carried out research and development of new models on this basis, and then integrated differentiated technologies such as intelligence, which constitutes the basic common technology of electrification and is an important prerequisite for the overall improvement of the competitiveness of domestic new energy vehicle products." Deloitte Greater China Automotive Industry Leader Zhou Lingkun analyzed from a technical perspective.

At present, China's new energy vehicle market has entered a new stage of explosive growth and has become the consensus of the industry, and the market trend in 2022 is also expected to remain high. The China Association of Automobile Manufacturers predicts that in 2022, China's automobile sales will increase by 5.4% to 27.5 million units. Among them, the sales of new energy vehicles are expected to increase by 47% to 5 million units.

With the adjustment of the financial subsidy policy, some car companies have introduced the "limited time insurance" measure, and many people are worried that the cost of consumer car purchase may increase.

FAW-Volkswagen's official Weibo shows that the purchase of FAW-Volkswagen ID.CROZZ before February 28, 2022 can still enjoy the new energy national supplement in 2021. NIO released the 2022 car purchase subsidy plan, indicating that users who pay a deposit to purchase ES8, ES6 and EC6 before December 31, 2021 (inclusive), and who pre-market on March 31, 2022, can still enjoy subsidies in accordance with the 2021 national subsidy standards, and the difference will be borne by NIO. Xiaopeng also said that from January 1 to 10, customers who completed the deposit payment of orders are invited to enjoy the comprehensive subsidy after the proposed retail price will remain unchanged from 2021. Tesla directly raised the price of the rear-wheel drive upgraded version of the Model 3 and Model Y models, up 10,000 yuan and 21,000 yuan respectively. GAC E-An, Nezha Automobile, Feifan Automobile, etc. also proposed to adjust the prices of some models.

The industry generally believes that in the short term, policy adjustments may have a certain impact on bicycle prices. "However, in the long run, China's new energy vehicle market has shifted from subsidy-driven to market demand-driven, and the decline in costs such as batteries, carbon credit trading revenue, software and other emerging revenues will be enough to make up for the negative impact of subsidy withdrawal on corporate profitability." Zhou Lingkun pointed out.

The relevant person in charge of a new car-making force told reporters: "Based on the decline of new energy subsidies and the trend of sales growth over the years, it can be seen that the impact of subsidies on the new energy vehicle market is short-lived, and the growth of market sales is still a major trend." ”

Lang Xuehong also believes that after the withdrawal of financial subsidies, the overall price of the new energy vehicle market may be affected by temporary price fluctuations, but it will quickly return to normal. At the same time, after the cancellation of the central financial subsidies, the non-financial subsidy policy is expected to increase and continue to promote the rapid development of the new energy vehicle market.

(Editor: Zhang Shuo Proofreader: Yan Jingning)