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After Dongfeng and FAW, did Great Wall Motors follow up?

Publish Date: 2023.03.11

From the main target of this year's development of "GDP growth of about 5%; urban employment of about 12 million" to "focus on expanding domestic demand, stabilizing mass consumption, and promoting the recovery of life service consumption" and other work priorities, the government's determination to "stabilize growth and employment" was conveyed during the "two sessions" this year. As an important pillar industry of the national economy, automobile plays a role of "ballast" and "stabilizer", and plays an important role in promoting high-quality economic development and driving labor employment.


  Since this year, with the withdrawal of subsidies for the purchase of new energy vehicles for 13 years, the end of the policy of halving the purchase tax on fuel vehicles implemented in the second half of last year, and the overdraft factors brought about by the Spring Festival and policy switching, China's automobile industry has been under pressure as a whole. According to the data of the passenger transport association, in January-February, China's total retail sales of cars were 2.679 million, down 19.8% year on year.




  Great Wall Motors February Production and Sales Express


  In this context, the market performance of automobile enterprises is also difficult to be optimistic. Take Great Wall Motors for example, official data show that in February this year, Great Wall Motors sold 68200 vehicles, down 3.65% year on year; In the first two months of this year, the cumulative sales volume was 129700, down 28.94% year on year.


  "In 2023, the automobile industry is in an important period of transformation and development, and the external environment is difficult, and the operation of the automobile industry has more complex characteristics." Cui Dongshu, the secretary general of the Federation of Passenger Transport, said, "At the moment of great changes in the industry, there is an urgent need for policy guidance and support from relevant ministries and commissions."


  In fact, since January this year, a number of national ministries and commissions, including the Ministry of Commerce and the Ministry of Industry and Information Technology, have successively introduced measures to invigorate the circulation of automobiles and expand automobile consumption, and local governments have actively followed up. According to incomplete statistics by the reporter of China Economic Network, more than ten provinces and cities, including Beijing, Shanghai, Guangzhou, Tianjin, Chongqing, Heilongjiang, Jilin, Liaoning, Hainan, Fujian, Shanxi and Hubei, have successively issued policies to boost consumption and boost the prosperity of the moped market.


  In addition to the policy, the local government has also used "real gold and silver" to give benefits to enterprises and consumers by issuing consumption vouchers for the Spring Festival, carrying out charging subsidies for new energy vehicles, and implementing automobile consumption subsidy policies, and set off wave after wave of "sales promotion".


  Recently, a total of 58 models of seven brands of Dongfeng Motor Group have also launched a car purchase subsidy limited to Hubei Province, with subsidies ranging from 5000 yuan to 90000 yuan. Once launched, this activity not only quickly ignited the local auto consumption market, but also made French cars "out of the circle". Some netizens laughed that "go to Hubei to collect wool".




  Following that, FAW launched the "Banner Benefit Jilin - 100 million yuan time-limited benefit subsidy" campaign for consumers in Jilin Province. This subsidy covers all independent and joint-venture brand passenger cars and light trucks under FAW, with a total subsidy of 150 million yuan and a maximum subsidy of 37000 yuan per vehicle.


  It is not difficult to see from the above cases that local financial support plays a huge role in promoting the development of automobile enterprises, and the practice of Hubei Province has gradually triggered other provinces and cities to follow. As a leading enterprise in Hebei Province, Great Wall Motors, which is in the transition to new energy, also needs support from all parties. It is worth mentioning that at the end of last year, Baoding, Hebei Province, issued a special financial subsidy of 20 million yuan for the purchase of cars. For users who purchase all models (including non-operating pickups, that is, pickups purchased by individuals) of vehicles with less than 7 seats (including non-operating pickups) produced and paid taxes in Baoding City, the maximum subsidy for new cars was 5000 yuan.


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