On May 7, China Automobile Circulation Association released the latest auto consumption index: the auto consumption index in April was 80.4, achieving "double growth" year on year and month on month, hitting a new high this year.
On the eve of the release of auto production and sales data in April, the auto consumption index took the lead in delivering a satisfactory answer, which can not help but make people have greater confidence in the performance of the auto market in April.
Reviewing the changes of the automobile consumption index in the first quarter, the automobile consumption index has returned to the normal development track since January, when it was significantly lower. The automobile consumption index experienced a temporary fluctuation with the domestic automobile market warming up. Therefore, whether the second quarter can start with a good situation is widely concerned by the consumer market.
In fact, in order to create a good market environment for automobile consumption, in April, the Ministry of Commerce, the Ministry of Finance and other seven departments jointly issued the Detailed Rules for the Implementation of the Car Trade in Subsidy (hereinafter referred to as the Detailed Rules), which defined the scope and standard of the car trade in subsidy, and encouraged consumers to scrap old vehicles and purchase new cars that meet energy-saving requirements. In this regard, the China Automobile Circulation Association said that the release of the detailed rules will accelerate the upgrading of the automobile market and promote the growth of the new car consumer market.
In addition, during the 2024 Beijing International Auto Show, new cars of major auto companies will be released intensively and listed in succession, which has stimulated consumers' enthusiasm for buying cars; During the "May Day" period, large auto shows were held in many places, and manufacturers and dealers cooperated to carry out promotions. Consumers' pent up demand for cars is expected to release quickly.
According to incomplete statistics by the reporter, more than 30 cities, including Nanchang, Lanzhou, Shijiazhuang, Xi'an, Hohhot and Chongqing, held local auto shows. All major auto enterprises seized the opportunity of festival consumption to promote sales, laying a solid foundation for completing the business tasks in the second quarter and the first half of the year. Among them, 17 brands and 24 stores participated in the first Urumqi International Auto Show and the 12th "May Day" International Auto Show, covering luxury, joint venture, independent and newly built brands, to meet the needs of different consumers.
Lang Xuehong, deputy secretary-general of China Automobile Circulation Association, introduced to the reporter of China Consumer Daily that since March, the price of the automobile market has continued to decline, and the implementation rules of the old for new policy were issued at the end of April, and consumers had an obvious wait-and-see attitude in the early stage. At present, the Detailed Rules have been released. With the promotion activities of manufacturers and dealers during the "May Day" holiday, consumers' pent up demand will be gradually released. It is expected to continue to stimulate consumers' enthusiasm for buying cars, and the effect will be significant at the end of May and June.
From the sub index that constitutes the auto consumption index, the demand sub index in April was 75.6, an increase from the previous month. The introduction of the Detailed Rules will further promote the demand of consumers for replacement; New models will be released and listed in Beijing International Auto Show, which will also stimulate a new round of consumer demand for cars.
The store entry sub index in April was 85.6, up from the previous month. During the Beijing International Auto Show, a large number of new models were released and launched; During the "May Day" holiday, auto shows and promotional activities are carried out in a centralized manner. The model of holiday plus auto show will attract more consumers to look at cars in stores.
Lang Xuehong said that according to the current automobile consumption index, this month there will be quite a number of people waiting to buy cars. It is expected that the transaction volume of terminal cars in this month is expected to reach the level of about 1.9 million, with sales increasing compared with April. (China Consumer Daily reporter Wu Bofeng)
