Will you buy a car if the purchase tax is abolished? -Buy a car, purchase tax, vehicle purchase tax–Fast Technology (Media of Drive Home)–Technology changes the future

Let me ask you a question first, will you still buy a car in 2022?

Since May this year, a series of policies to promote car consumption, such as consumer coupons, car purchase subsidies, and purchase tax incentives, are stimulating every consumer who is holding money to wait and see – go buy a car!

In particular, on the preferential purchase tax, on May 23, the National Standing Committee proposed that the purchase tax of some passenger cars should be reduced by 60 billion yuan in stages. Immediately on May 31, the Ministry of Finance and the State Administration of Taxation issued a notice on the reduction of vehicle purchase tax for some passenger vehicles. 2.0 liters and below passenger cars with a displacement of not more than 300,000 yuan, excluding value-added tax), the vehicle purchase tax will be halved.

How much money can be saved after the 60 billion “big red envelopes” are distributed to each consumer? According to the policy of halving the vehicle purchase tax, if the fare is 100,000, 200,000, and 300,000 cars, it will save about 4,400 yuan, 8,800 yuan and 13,200 yuan respectively.

I don’t know if you have any interest in this reduction or exemption? But in the opinion of experts, the reduction can be even greater. On June 18, Yu Zhuoping, a professor at Tongji University and director of the National Intelligent New Energy Vehicle Collaborative Innovation Center, put forward a point of view: If it is a national car, there should be no vehicle purchase tax.

Yu Zhuoping believes that once the private car used by the family is positioned as a luxury, luxury goods have a special luxury tax. The vehicle purchase tax is analogous to the luxury tax. If it is a car that ordinary citizens can afford, it is an ordinary item, and there can be no more purchase tax.

High-end luxury goods tax is reasonable, but ordinary national cars should not be charged. If there is such a series of policies, I believe that the base of the national car will form a larger market.

Purchase tax relief, are you excited?

my country implements a one-time vehicle purchase tax of 10% of the taxable price for the purchase of taxable vehicles in the automobile consumption process. Temporary relief policy.

The new round of purchase tax reduction and exemption introduced at the end of May this year will expand the coverage of the preferential treatment again.

First of all, the division of displacement is very clear. 2.0 liters and below, whether it is a 2.0 naturally aspirated engine or a 2.0T turbocharged engine, are included in the scope of enjoying the reduction. Secondly, the purchase date is from June 1, 2022 to December 31, 2022, based on the date of issuance of the invoice.

The price of a bicycle (excluding value-added tax) does not exceed 300,000 yuan, which is a little bit of a loophole. The policy says that the price of a bicycle excluding VAT does not exceed 300,000 yuan. In other words, the price of the naked car after the negotiation is less than 339,000 yuan, and the price after deducting the purchase tax is less than 300,000 yuan.

The specific calculation method is as follows: car price excluding VAT = open fare / bare car price ÷ 1.13 (value-added tax) = 339000 ÷ 1.13 = 3000000.

To go further, even a luxury car of more than 400,000 yuan can catch up with this wave of “big red envelopes”, including the discounts of 4S stores.

Taking the current market situation as an example, the 2022 Audi Q5L 2022 40T luxury dynamic model equipped with a 2.0T engine has a guide price of 415,800 yuan (including VAT), and the in-store discount can reach about 80,000 yuan, and the price after the discount is 335,800 yuan (including VAT). Value-added tax), after deducting 13% value-added tax, the price is 292,100 yuan, and you can enjoy half of the purchase tax discount. After the half-cut purchase tax, you can save 14,600 yuan.

Historically, purchase tax incentives have been directly effective in stimulating consumption. Looking back at the last two adjustments, one is for small-displacement passenger cars. Two rounds of tax reduction were implemented from 2009 to 2010 and from 2015 to 2017. The tax rate was first reduced to 5% in each round. After the consumption growth of vehicle models reaches a certain scale, the tax rate will be raised to 7.5%. The other is for new energy vehicles, which have been exempted from vehicle purchase tax since September 1, 2014, on the basis of meeting certain technical requirements.

From the effect point of view, both markets have achieved certain results. The sales volume of new cars for small-displacement passenger cars increased by more than 50% annually during the first round of discounts (2009-2010), and the average annual growth rate during the second round of discounts (2015-2017) also reached 9% , significantly higher than the growth rate in years without discounts at the same stage. The sales volume of new energy vehicles has averaged an annual growth rate of about 86.4% since 2014, 27.6% higher than the growth rate from 2011 to 2013.

But this time the purchase tax concession is a bit awkward.

At 0:00 on June 15, after the tenth increase in the year, No. 95 gasoline in many places entered the “ten yuan era”, and No. 92 gasoline exceeded 9 yuan per liter in an all-round way. During the two-year period, the price of refined oil started from the floor price in 2020, and reached the 8 yuan node in early 2022. After six months of volatility and climbing, it finally reached an unprecedented high of 10 yuan with unquestionable steps.

In the short term, there are still many consumers who are making small calculations between purchase tax concessions and oil prices. You know, oil prices have risen by about 30% to 40% since the beginning of the year. For family passenger cars, the annual fuel cost will increase by 2000-3000 yuan/12,000 kilometers.

According to the latest data from the Passenger Federation, from June 1st to 5th, domestic retail sales of passenger vehicles were 168,000 units, a year-on-year decrease of 5% and an increase of only 6% from May. From this point of view, in the first week after the announcement of the purchase tax reduction policy, although car consumption has recovered compared to the previous month, the effect is not obvious.

After all, if oil prices continue to rise like this, the small 10,000 yuan saved from the purchase tax will be returned to “three barrels of oil” in less than a year.

To stimulate a new energy vehicle?

Different from the lukewarm consumption of fuel vehicles, new energy vehicles entered the “midsummer” earlier.

In May 2022, the retail sales of the passenger car market reached 1.354 million units, a year-on-year decrease of 16.9% and a month-on-month increase of 29.7%. The cumulative retail sales from January to May was 7.315 million units, a year-on-year decrease of 12.8% and a year-on-year decrease of 1.07 million units, of which the year-on-year decrease of 860,000 units from April to May had a greater impact.

Different from the slow growth of the overall passenger vehicle market, retail sales of new energy passenger vehicles reached 360,000 units in May, a year-on-year increase of 91.2% and a month-on-month increase of 26.9%. From January to May, a “W-shaped” trend was formed. From January to May, the domestic retail sales of new energy passenger vehicles was 1.712 million, a year-on-year increase of 119.5%.

However, the preferential vehicle purchase tax policy implemented on June 1, on the surface, seems to stimulate the consumption of fuel vehicles and suppress new energy vehicles. Indeed, the reduction of the purchase tax on fuel vehicles has increased the competitive pressure of new energy vehicles, but new energy still has policy advantages.

The current subsidy only accounts for 4.4% of the car price, and it is expected to mainly affect the sway between the price of 50,000-200,000 yuan between new energy and fuel vehicles, and wait-and-see customers. The sales volume in this price range accounts for about 5-60% of the total sales of new energy vehicles. Assuming that 10%-20% of customers who lose 10%-20% choose fuel vehicles, the actual impact on the total amount of new energy is about 5%-10%. For larger new energy brands, the impact will not be too obvious.

On the other hand, the new energy vehicle market is still a dumbbell-shaped structure – the low-end and high-end polarizations are serious.

In the market below 50,000 yuan: there are almost no benchmark fuel vehicles at present. The main new energy vehicles are A00-class models such as Wuling and Chery, as well as LUMIN, which will be launched by Changan this year. They are less likely to be affected.

In the market of more than 200,000 yuan: Tesla, new car manufacturers, BYD, etc. account for a higher proportion. The fuel vehicles below 1.6L in this range are mainly small and medium-sized models of luxury brands. The estimated sales volume in 2021 is 480,000 vehicles, including Audi A3. /Q3, Mercedes-Benz A-Class/C-Class/GLA/GLC, etc., but the market is relatively small, and it is not a similar competitor to new energy vehicles at this price. The subsidy advantage has little impact on new energy products, especially this year’s new energy vehicles. Powerful new products are further concentrated in this range.

This is why most new energy vehicle companies gradually avoid the price range of 50,000-200,000 yuan to launch new cars, and rush into the market of more than 300,000 yuan. Everyone knows that in the low-end and mid-end market, to compete with fuel vehicles, there is no strong cost control ability and strong price/performance ratio. If the purchase tax policy changes, the price advantage of trams will be lost.

So another question this year is, after the new energy purchase tax subsidy expires, should we continue to subsidize it?

Yu Zhuoping, a professor at Tongji University and director of the National Intelligent New Energy Vehicle Collaborative Innovation Center, said: “A very important thing in the current subsidy policy is that the purchase tax for new energy vehicles is cancelled, and the purchase tax is cancelled during the subsidy period. But with the With the withdrawal of subsidies, the purchase tax will come back.”

On September 1, 2014, my country began to exempt new energy vehicles from vehicle purchase tax, and relevant departments have extended it to December 31, 2022 in 2017 and 2020. At the end of this year, new energy vehicles will be exempted from tax. The acquisition tax policy will expire.

Three years after another, the state has saved a lot of purchase tax for countless new car buyers. According to the Ministry of Industry and Information Technology, in just 5 years from 2016 to 2020, the amount of subsidies given by the state to new energy vehicles every year has increased from 860 million yuan to 10.54 billion yuan, and the total amount of subsidies is as high as 32.9 billion yuan. After making up so much money, it is a question whether to continue to make up.

Xin Guobin, vice minister of the Ministry of Industry and Information Technology, pointed out that my country’s new energy vehicle industry still has some shortcomings and deficiencies in some key technologies and support capabilities. He said: “In the next step, we will study and solve it as soon as possible. For example, we will study and clarify the policy of extending the purchase tax preference for new energy vehicles as soon as possible. This policy will end at the end of this year. Now we are working with relevant departments to study whether to continue this policy.”

Regarding the subsidy, the UK’s approach is that if you can’t bear it, you can’t resist. On June 14, the United Kingdom announced the cancellation of the policy of 1,500 pounds of subsidies for electric vehicles. This means the UK’s electric vehicle subsidy scheme, which began in 2011, is officially over. Previously, the United Kingdom has gradually withdrawn the subsidy. From £2,500 to £1,500, the top selling price for subsidised models has also dropped from £35,000 to £32,000.

Zhu Yulong, a senior automotive engineer, analyzed that the entire European auto market has shown weak demand growth. Stimulated by subsidies, European new energy vehicles have achieved great growth in the past few years, but at this point in time, the stuck link has been It’s not a matter of purchase subsidies. Mainly, high energy prices and inflation as a whole have had an impact on Europe’s consumption power.

write at the end

Unlike blind subsidies on the consumer side, the UK may return subsidies to the electric vehicle industry in another form.

“The government has always made it clear that the subsidies for electric vehicles are only temporary, and have previously been confirmed to last until the 2022-2023 fiscal year. The continuous reduction in the size of the subsidies and the range of models covered will have little impact on the fast-growing electric vehicle sales.”

The UK government said: “In light of this, the government will now refocus funding on the main issues of the EV transition, including expanding the EV charging network, and supporting the electrification of other vehicles, the transition to EVs that needs to be further driven. .”

This also has certain reference significance for the adjustment of the direction of subsidies in our country.

Because compared to directly giving preferential treatment to consumers who buy electric vehicles, the improvement of charging infrastructure and the improvement of overall product capabilities are the keys to promoting the transformation of new energy vehicles from policy-oriented to market-oriented. Therefore, the actual amount of the subsidy may be reduced, but the strength of the subsidy will not shrink, so it may be more expensive to buy a tram in the short term, but in the long run, it will be more and more worthwhile to buy a tram.

As for the purchase tax subsidy policy for fuel vehicles, it is very likely that this village will be missed and this store will not be available.

Hashtags: purchase tax, car purchase, vehicle purchase tax