As a booming market for the Chinese auto market, sales in the past three months have caused many dealers to feel the pressure. The auto market that was originally expected to emerge until 2006 reshuffled the market, and in the first half of 2004, the country’s monetary policy was “moderately tight†and it was quietly approaching the auto market that had been hot for almost three years. The price reduction effect is no longer apparent. According to statistics from Xiangmihu Automobile World, Sungang Motor City, and Dongyi Huapeng Automobile Market, since the end of last year, the sales volume of the Shenzhen automobile market has shrunk by nearly 30%. After the car-buying upsurge triggered by the reform of the large-scale unit vehicle system in April of this year, many car dealers in Shenzhen found that, although new cars are available every day and prices drop every day, the market response is very cold. On May 17th, Shanghai General Motors took the lead in reducing the Buick series significantly, triggering a general downgrade of mid-range models. However, judging from the response from the Shenzhen market, the hot selling brought about by price cuts was only a short-lived phenomenon. The most affected mid-range model reporter learned during the interview that many car dealers attributed this unusual situation to the "brakes" of bank car loans. The relative increase in car loans and auto insurance thresholds has made quite a number of consumers ready to return to “cash-for-preferred†status with the help of a round of “car dreamsâ€. In order to avoid risks as much as possible, some banks that still run auto loans have raised the down payment to 40% of the net car price. In Shenzhen, without a bank loan, the purchaser of a vehicle with a price of less than 100,000 yuan also survived. However, the purchase of 10-20 million vehicles is not so easy. Car loan insurance raises the threshold for new terms. On April 1, the new terms of the auto loan performance insurance issued by China Insurance Regulatory Commission were introduced. However, to this day, there is still no insurance company in Shenzhen starting a new business in this insurance. In the new clause, there are many mandatory regulations that are favorable to insurance companies, but one of the “absolute deductible rates for setting the amount of compensation not less than 10%†makes banks feel that their funds are safe. Not guaranteed. In the afternoon of June 7, the reporter interviewed several distributors. The complaints of car dealers confirmed the above statement: “Without risk protection, big banks are not willing to take risks anyway; even if some small banks continue this business, they drastically raise the threshold for car loans.†In fact, the reporter learned from several banks. Even if you apply for a 30% percentage of the first payment car loan, consumers still need to provide a full set of relevant proofs, are indispensable. In the second half of the year or the “turning point†of the auto market on June 7, the reporter learned from the consulting of many banks in Shenzhen as a car buyer. Because of the above two reasons, there will be no major changes in car loans in the short term. On the morning of June 5th, when the reporter discussed matters concerning the purchase of cars with distributors in the Xiangmihu Automobile World, what he heard most in the market was complaints about the market prospects this year. If there is no major change in terms of loans, models that have already gone through several rounds of price reduction will completely lose their advantage in shipments, either stop production or develop new products. More dealers believe that the auto market may appear in the second half of the year, especially the "inflection point" of low-end models, but this change is the change from price fighting to product differentiation. The long-term trend of the auto market should not change.
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