The downturn in the auto market and the constant wind of price cuts should be an eternal topic for the automotive industry this year. Following the big price cuts in June, the prices of mainstream models such as the Passat, Santana, and Excelle have recently fallen by several thousand dollars to 10,000 yuan; and Beijing Hyundai, which has been performing well in the market since its listing, announced that these two days have also been announced. The prices of its Sonata and Elantra have been lowered again, and the price cuts have reached about 10% -- and before that, the company had just lowered its price in the name of “Sales for Salesâ€. The question is: Can price cuts activate the sluggish auto market? Will the sluggish auto market lead to continued decline in vehicle prices? For automakers, this seems to be a difficult problem that cannot be solved. It is clear that by the end of August, the national car inventory has exceeded 400,000, and almost all models have been in oversupply. Supply exceeds demand, indicating that there has been a problem in the connection between production and consumption. Is excess capacity? In 2003, China’s car production reached a record 2,089,900; in 2004, relevant parties forecast that the car production could reach 2.4 million. However, China has a population of 1.3 billion. According to the internationally accepted calculation method, it can only be regarded as the beginning of the first year of popularization of cars when the penetration rate of cars reaches 20 vehicles/1,000 persons or more. Calculated according to this method, our production capacity is obviously still far behind. Since it is not overcapacity, there is a problem with consumer purchasing power. Under the buoyant desire of consumers to buy cars, they can't afford to buy them, or they can afford it but hope that the price of cars can be lower. This has become the main reason for some consumers to buy coins. The continued downturn in the auto market this year may indicate this point. Not long ago, the U.S. company's auto purchasing power index showed that American households can buy a new car with an average price of 27,000 U.S. dollars on average for 20.6 weeks (5 months). The Beijing urban family needs 2 years and 5 months (134 weeks) of net income to purchase a new car with an average price of 100,000 yuan, which is 6.5 times the time required by the United States. In this regard, the expert's opinion is that Beijing is already a high-income city, and if it is calculated at the national level, this difference in purchasing power will exceed 10 times. A more detailed algorithm is that the average annual household income of Beijing urban residents was 40,260 yuan last year. The current mainstream car prices in the Beijing market ranged from 50,000 yuan to 200,000 yuan, and the median value of 100,000 yuan was used to calculate if the Beijing residents did not eat at all. Drink without spending, it takes 2 years and 5 months to get enough money. Even if the gap between the labor forces of the two countries is left behind, it is an indisputable fact that China's auto market prices remain high. This has also become the most important factor constraining the release of consumer purchasing power. Now, the frequent price cuts of cars also indicate that the price of water is “filling waterâ€. "too much? If this is the case, the continuing wind of price cuts may continue to squeak until China's car prices stabilize at a more reasonable level. (wan new army)
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