From midnight on November 16, domestic gasoline and diesel prices were lowered by 310 yuan and 300 yuan respectively. Experts from the automotive industry believe that this marks the end of the year for the auto market.
Cui Dongshu, deputy secretary-general of the National Passenger Vehicles Association, said in an interview with reporters that at the end of the year there was a demand for car purchases, and confidence was the key. "The downward adjustment of oil prices will help boost consumer confidence."
Car dealers also showed optimism. A car dealer in Shanghai told reporters that consumer demand, purchasing power, and vehicle cost are the major determinants in the process of car purchase. The substantial reduction in oil prices will certainly boost consumer confidence in buying and selling, which is good for the auto market.
In terms of specific models, sales of self-owned brands are expected to benefit more from the policy dividend of lower oil prices, because many consumers prefer small-displacement, low-fuel consumption vehicles. "In the past two years, the self-owned brands have performed well in numerous new cars and model changers. Because they are more than 20% cheaper, they have won a number of markets." Rao Da, the secretary general of the National Association of Passenger Cars, believes that auto brands will pass through the market. Over the years of accumulation, the level of research and development has been greatly improved and the quality of technology has progressed rapidly.
This can be seen from the “blowout†sales of self-owned brands in the first two months. In September, the share of self-owned brands in the domestic passenger car market reached 42.7%, 3.1% higher than 39.6% in the same period of 2011; in October, the market share of self-owned brands maintained an upward trend in September, expanding to 45.1%. , 4.3% higher than the 40.8% in the same period in 2011, and almost equal to the same period in 2010.
In addition, people in the industry believe that the current reduction in oil prices will also directly benefit the high-fuel-consuming commercial vehicles, as well as road transport, logistics, and other industries. However, in the view of the automotive industry researchers of GF Securities, whether it is passenger cars or commercial vehicles, lowering the price of oil is more emotionally beneficial.
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