In response to a related issue concerning the replacement of vehicles in the "Turning-in-used Exchange Implementation Measures" recently issued by the Ministry of Finance and the Ministry of Commerce, relevant responsible persons of the Ministry of Finance and the Ministry of Commerce interviewed said that the same vehicle can enjoy "multiple subsidies."
No longer enjoy 1.6L tax reduction
The "Implementation Measures" will determine the implementation time of the replacement of vehicles from June 1, 2009 to May 31, 2010. During this period, old automobiles and "yellow-marked vehicles" that meet relevant conditions will be sold to the designated scrapped automobile recycling and dismantling enterprises that have been established in accordance with the law, and owners of the new cars will be entitled to subsidies.
According to the "Implementation Measures," the subsidy standards for scrapping old cars and repurchasing new ones are to scrap medium, light, and minivans, each subsidizing 6,000 yuan, 5,000 yuan, and 4,000 yuan respectively; scrapped medium-sized passenger cars, with 5,000 yuan each. . The subsidy standards for the scrapping of “yellow vehicles†and redemption of new vehicles are scrapped medium and heavy-duty, light-duty, and micro-duty trucks. Each vehicle is subsidized with 6000 yuan, 5,000 yuan, and 4,000 yuan respectively, and scrapped large, medium, small and minivans, each Subsidize 6,000 yuan, 5,000 yuan, 4,000 yuan, and 3,000 yuan respectively, scrapped cars and special operating vehicles, and each subsidizes 6,000 yuan.
In this regard, the responsible officials of the Ministry of Finance and the Ministry of Commerce stated that the owners of scrapped vehicles and new cars must be the same unit or individual; vehicles that are scrapped and redeemed do not include three-wheeled vehicles and low-speed trucks; the type, model, and brand of the new cars are redeemed. No restrictions. However, if the "yellow mark" vehicle is scrapped in advance and a new car is replaced, the new car will have enjoyed a half-empty vehicle purchase tax policy of 1.6 liters or less and will no longer enjoy the trade-in replacement policy.
Regarding whether the same vehicle can enjoy the “multiple subsidy†problem, the responsible persons of the Ministry of Finance and the Ministry of Commerce all stated that the scrapped vehicles meet the “Implementation Measures†and multiple subsidy conditions as stipulated by the Ministry of Finance and the Ministry of Commerce in 2009 No. 20 of 2009. Can only enjoy one kind of subsidy. In view of the fact that some large and medium-sized cities in China currently have certain subsidies for the retirement of “yellow vehiclesâ€, such as the central subsidy policy and local subsidy policies, the effect will be more obvious. Therefore, in order to encourage local governments to formulate relevant supporting policies based on actual conditions, Measures to guide the old cars and "yellow cars" to be scrapped in advance, and to clarify that the relevant policies introduced in various places should be implemented together with the car trade-in policy.
Relatively benefit from light commercial vehicles
Regarding the issuance of the "Implementation Measures," professional organizations said that the purpose of the subsidy is to stimulate automobile consumption and promote energy conservation and emission reduction. However, since the subsidy standard is not higher than the vehicle purchase tax in principle, it will be difficult to stimulate automobile consumption effectively.
Analysts pointed out that as the models benefiting from the subsidy are mainly used in the passenger and freight markets, the overall situation is currently in a period of recovery. The owners will scrap old vehicles in advance to obtain a subsidy of RMB 3,000 to RMB 6,000, and their willingness to spend tens of thousands of yuan to purchase new cars is very high. Weak, this policy is difficult to stimulate the early retirement of the car. Of course, consumers who intend to scrap cars will benefit to a certain extent, but this part of the demand for cars belongs to normal car demand. At present, the number of scrapped auto recycling companies in China is relatively small. It is inconvenient for car owners to scrap cars; scrapped cars have less income. From the perspective of economic returns, car owners are not willing to scrap cars.
The research report of China Merchants Securities pointed out that from the point of view of the "subsidy scope and standards" of the capital market, there is no over-expectation aspect. They believe that the formal announcement of the "Measures" has a limited effect on the overall sales of car sales and stimulates the stock price of relevant companies. Shorter sex. According to the comparison between the subsidy amount and the proportion of different types of vehicle prices, light commercial vehicles are relatively beneficial. The main listed companies are Jiangling Motors and Jianghuai Automobile.