Insufficient Positive Points Supply Of New Energy Vehicles: Price Rise Helps New Energy Vehicle Enterprises

Affected by the new crown pneumonia, the development rhythm of China's new energy vehicle industry has been disrupted, and the new energy vehicle integral trading market has also changed.

From the original "supply exceeds demand" and "integral transaction price is too low", to this year's "supply is less than demand" and "price rises significantly", as the "double points" policy to promote the development of new energy vehicle industry after the decline of financial subsidies, is playing a more active policy role.

"In view of the problem of insufficient positive integral supply of new energy vehicles in 2020 caused by the epidemic, we are strengthening the research and making some policy adjustments in the next step."

On September 5, Chen Kelong, deputy director of the first Department of equipment industry of the Ministry of industry and information technology, said at the 16th China automobile industry development (TEDA) International Forum.

In July this year, the Ministry of industry and information technology and other departments jointly released the average fuel consumption of China's passenger car enterprises and new energy vehicle points in 2019, and started the work of "double points" trading and negative point compensation of passenger car enterprises in 2019 from July 13.

21st century economic reporter learned from many insiders of automobile enterprises and automobile industry that the price of positive points of new energy vehicles this year has increased significantly compared with that of last year.

Some industry insiders told the 21st century economic reporter that the rise of integral trading price is caused by multiple factors. On the one hand, according to the new deal issued in June this year, the "double points" policy is becoming more stringent.

In 2019, the "double points" policy requires all passenger car enterprises to implement the requirement of 10% new energy vehicle points for the first time. Therefore, for the automobile enterprises with insufficient production of new energy vehicles, the new energy vehicle points are negative, and they need to notify the transaction to compensate for the negative points; on the other hand, the new energy vehicle market has declined significantly this year, which has a certain impact on the supply-demand relationship of integral Trading in the short term.

"The shortage of positive points of new energy supply is short-term. Affected by the epidemic this year, the government's strategy has been adjusted to help some enterprises in the short-term. Due to the epidemic situation, the pace of new energy products of many joint venture automobile enterprises has slowed down. With the development of joint venture brands, the supply-demand relationship of the whole integral trading market will tend to be stable. "

On September 7, Cui Dongshu, Secretary General of the all China Riding Association, said in an interview with the reporter of the 21st century economic report.

The price rise is still in short supply

The double point policy was launched in 2017. In the practice of the previous two years, the supply of new energy points exceeded demand and the price was low.

However, with the new policy of "double points" introduced in June this year, the assessment proportion of new energy vehicles will be further increased, and the single vehicle points will be reduced. The oversupply of points market will be significantly improved. The price of integral trading is likely to rise, and the transaction price will fully reflect the market value.

"The price of new energy points in 2018 is very low, and the transaction price of many enterprises is within 500 yuan / min. However, the price of this year's double point trade almost doubled compared with last year On September 6, a person familiar with double point trading told the reporter of the 21st century economic report.

In August of this year, Li Bin, chairman of Weilai automobile, disclosed at the telephone conference of Weilai automobile's second quarter financial report that the new energy vehicle's points have gained a good price increase this year.

"According to the integral algorithm, we generated 100000 points last year. So far, according to this year's price, we can generate about 120 million yuan of income. Last year, we sold 20000 cars, and basically each car generated 6000 yuan of income. " Li Bin said.

According to Li Bin, the value of a positive score of new energy vehicles is about 1200 yuan. "The price of about 1000 yuan is expected, which is quite normal. The price used to be too low. " Cui Dongshu told reporters of the 21st century economic report.

In many people's view, the integral trading price in the future period of time, there is still some room for growth.

"This year Weilai will generate about 200000 points, which will be sold next year. We expect that the integral price will rise further, and the specific amount depends on the relationship between supply and demand. In China, the market of points has already made sense, and the direction of the government is also to encourage people to produce electric vehicles through points to replace the role of subsidies. " Li Bin said.

To a certain extent, this year's decline in China's new energy vehicle market has led to a decline in the performance of some new energy vehicle enterprises. The rise in the integral price will ease some pressure on them, and Tesla and the growing new forces of China's car making will also benefit from this.

Many industry insiders told reporters of the 21st century economic report that the role of double points will gradually highlight, forcing more traditional automobile enterprises to accelerate the pace of strategic transformation of electrification. If the market product line is more abundant, the new energy vehicle market as a whole has reached a certain scale, and with the timely and appropriate adjustment of policies by relevant departments, the transaction price of points will tend to be stable.

New energy situation of joint venture automobile enterprises is grim

"In the first half of this year, due to the impact of the epidemic, the R & D cooperation of new energy vehicles and the supply chain system of joint venture automobile enterprises have been impacted. Enterprises themselves are also facing great business pressure in the world, so the original new energy product plan has been delayed. However, with the rapid recovery of China's market since June, some foreign enterprises have actively promoted their new energy strategy in China. " Some insiders told reporters.

In the past few years, some foreign auto companies have been more cautious about the prospect of new energy vehicles, and the pace is slower than that of Chinese domestic auto companies. However, the pressure of the new deal is even more severe.

From the perspective of double points in 2019, the top auto companies with positive points are mainly BYD, BAIC new energy and other independent brands. This is mainly because the independent brands in the field of new energy layout earlier, get more dividends.

In 2019, the top ten passenger vehicle enterprises with the highest negative new energy points are all joint venture brands, and they are some of the top enterprises with high production and sales volume. The top five are FAW Volkswagen, SAIC Volkswagen, GAC Honda, Beijing Benz and Beijing Hyundai. This is because, when the production of new energy vehicles is small and the fuel consumption cannot meet the standard, the more cars are sold, the more negative points will be.

From a certain point of view, it is convenient for the affiliated enterprises in large groups to conduct double integral transactions. For example, Beijing Benz and Beijing Hyundai can trade points with BAIC new energy. However, if there are large loopholes in the enterprises of large state-owned automobile groups, there may be insufficient funds from other automobile enterprises.

However, according to the "New Deal" of double points, the negative points of new energy vehicles generated by passenger car enterprises in 2019 can be compensated with the positive points of new energy vehicles generated in 2020, and the positive points of new energy vehicles generated in 2021 are used to compensate the negative points of new energy vehicles generated in 2020.

This provides a certain buffer period for automobile enterprises to get out of the epidemic situation and accelerate the promotion of new energy vehicle products. There is no doubt that the double integral trading market is playing an increasingly important role, and the time for joint venture automobile enterprises to promote new energy vehicle products is becoming more and more urgent.

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