Passenger Association: the retail trend of the passenger car market in June is stable.

The retail trend of passenger car market is stable in June.

Retail sales in the passenger car market were weak in the first week of June, with an average daily retail sales of 25700 vehicles in the first week, down 10 per cent from a year earlier. Judging from the month-on-month caliber, the month-on-month decline in the first week of June was 20%, with a slight downward trend.

Retail sales in the passenger car market remained relatively weak in the second week of June (August-14), with an average daily retail sales of 36600 vehicles in the second week, down 17% from a year earlier. Due to the inventory pressure before the implementation of the sixth year in June 19, the volume of goods sold at the beginning of June last year was on the high side, forming a high base. Judging from the month-on-month caliber, the second week of June increased by 1% over the second week of May, and the trend was relatively stable.

Retail sales in the passenger car market picked up slightly in the third week of June, with an average daily retail sales of 43900 vehicles in the third week, down 11% from a year earlier. Due to the inventory pressure before the implementation of June 19, the pace of selling goods is tight at the front and loose at the back, so the pressure is gradually decreasing this year. From a month-on-month perspective, the third week of June increased by 9% over the third week of May, with a relatively stable trend.

Retail progress in the first three weeks of June this year is relatively low. Assuming that sales in May are the same as in June, the current progress is estimated to be 47%, which is about 6 percentage points lower than the normal level of 56% of the average progress from January to 21 in previous years.

With the release of demand from March to May and previously pent-up demand, coupled with the rapid rise in temperatures in June, the car market has entered the traditional light quarter, and retail sales will fall seasonally in June. In June, the vast majority of domestic students have returned to school and resumed classes, the demand power of urban families to buy cars has weakened, and the driving force of month-on-month growth in the car market has weakened. However, the festive atmosphere of last week's "618" Shopping Festival is also very good, and the Chongqing auto show and local promotion policies still have a good effect. 2. The wholesale performance of the passenger car market was strong in June.

6月第一周（1-7日）的乘用车市场批发表现很强，第一周日均零售3.37万辆，同比增速增长60%。从环比5月口径看，6月第一周的环比5月同期增长19%，走势较强，这也是6月第一周工作日多的体现。

In the second week of June, factory sales averaged 39700 vehicles a day, up 16% from a year earlier and 11% from the same period in May.

In the third week of June, factory sales reached an average of 49600 vehicles a day, an increase of 7% over the same period last year, and a month-on-month growth rate of 9% over the same period in May. The overall progress is good, reflecting the relatively reasonable inventory in the car market and the normal purchase rhythm of dealers.

The wholesale trend in the first week of June this year is relatively strong, mainly due to the great impact of the inventory of the State Wuqing in the first week of last year, the great loss caused by dealers in the sale of used cars, and the inactive purchase of new cars, so the sharp rise in early June this year is a normal repair phenomenon. The wholesale volume in the second week increased by 11% compared with May, which is also a reasonable reflection of the channel inventory, the channel purchase is smooth, and the industry runs at a good pace.

The wholesale operation in June still needs to be based on a reasonable retail pull. Therefore, although the retail increment effect brought by "618" is not outstanding, it is also conducive to wholesale growth.

3. The effect of "June 18" on the car market-it is important to promote first-purchase consumption.

The retail performance of the car market is relatively stable this week, although it is greatly affected by the high base in June 2019, but the promotion effect of the "618" shopping festival and local auto show is still reflected. Especially at present, local auto shows and local activities to promote consumption still have a good effect on the car market. Although some policies to promote consumption will lead to early consumption in the car market, such overdraft factors are still very small. In the long run, the sustainable pull effect of early consumption will be very good. In particular, the policy of promoting consumption in the car market should promote first-purchase consumption, not trade-in consumption. This is because the early purchase of cars for the first time brings consumers into the life of owning a car early. In the world, only China can realize that more than 90% of households own houses under high house prices, and the penetration rate of family vehicles should not lag far behind the world. Therefore, as long as we promote first-purchase consumption, the effect of car life driving comprehensive consumption will be reflected, and it will better promote the positive cycle of making money and better consumption. The first-purchase users enter the car-changing cycle as soon as they enter the car-owning life, and the pulling effect of their car-buying consumption in the future will certainly be reflected. The consumption rhythm of buying cars early and changing cars in an orderly way is also the inevitable guarantee for us to achieve a well-off life in an all-round way.

4.2021-2023 double points policy to bail out enterprises

Recently, the Ministry of Industry and Information Technology issued an amendment to the "measures for parallel Management of average fuel consumption of passenger car Enterprises and points of New Energy vehicles". It feels that this policy will guide enterprises to further improve the energy saving level of traditional energy passenger vehicles, provide enterprises with relief under the epidemic, and give enterprises more opportunities for compliance and flexibility. This policy improves the traditional energy passenger vehicle fuel consumption guidance measures and new energy vehicle integral flexibility measures, the policy designated ideas are very targeted and innovative, the effect will be relatively good. The policy of double points for new energy and traditional cars further guides enterprises to develop new energy continuously, raises the transaction price of new energy points, and encourages enterprises to make their own efforts. Therefore, it is expected that new energy vehicles will have sustainable and high growth development opportunities in the second half of the year and next year.

5. The most important thing is to do well the existing products.

With the development of new energy vehicles entering a new stage, the important value of traditional vehicles is fully reflected. Without the cash flow of traditional vehicles, the development of new energy vehicles is very difficult. In the early stage, more consideration should be given to accelerating the industrial layout in the field of new energy and intelligent network connection, in an attempt to seize a new round of commanding heights. However, after the epidemic and other tests, the traditional power is still the basis for the survival of car companies, many car companies fall down not because of the lack of new energy transformation, but because the foundation of traditional cars is still insufficient. The foundation of the traditional car is insufficient, which reflects the lack of comprehensive R & D and other system capabilities. After the recent impact of the new energy layout of international car companies, the solid foundation of independent car companies is also fully reflected. The performance of the three strong private enterprises is very good, and the core independent resources of large state-owned enterprise groups are super-strong, which stabilizes the independent camp.

6. The differentiation of car-building by new forces

Recently, Sailin, Boxun and Baiteng have been seen in the media one after another, which shows their respective difficulties. These phenomena are mainly due to the great changes in the investment environment, and at present it is not Tesla that pierced the bubble of China's new energy vehicles. Because the emergence of Tesla did not lead to a sharp decline in sales of related direct competition, but made this high-end market relatively. For example, the performance of Lulai car, Weimar car, Xiaopeng car, ideal car and so on is still good. At present, the problems in Sailin, Boxun, Baiteng and other enterprises are mainly due to the cooling of investment in this new energy market caused by the economic downturn and the downturn of social investment boom. If these enterprises do not have money, it will be difficult to sustain, so the story can not go on, leading to the concentrated outbreak of these problems. The media is very keen, with the increasing number of negative news from these new forces, which further leads to the outbreak of this kind of financing problem is more serious, so there is a vicious circle. The capital market is also looking for new power head enterprises with better market performance, and the industry is seriously divided.