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Involving 50 models! Dongfeng pushes tens of billions of replacement subsidies

2024-04-13 Update From: AutoBeta NAV: AutoBeta > News >

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AutoBeta(AutoBeta.net)03/11 Report--

Dongfeng Motor's brand models launched a trade-in campaign on March 9, covering more than 50 models of independent brands, joint venture brands and commercial vehicles, giving back nearly 60 million users and estimated replacement subsidies of more than 10 billion yuan.

It is understood that this trade-in campaign covers a number of brands, including independent brands such as Dongfeng Lantu, Dongfeng Fengshen, Dongfeng Yipai, Dongfeng Nano, Dongfeng Hong and other independent brands. Dongfeng Nissan, Dongfeng Honda, Dongfeng Peugeot, Dongfeng Citroen, Qichen, Infiniti and other joint venture brands, as well as Dongfeng commercial vehicle, Chenglong, Zhengzhou Nissan and other commercial vehicle brands. Among them, the Lantu replacement subsidy policy covers the new Lantu FREE, the New Lantu dreamer and the Lantu Juguang all-line models, and the maximum cash discount for car purchase is 50000 yuan; the maximum subsidy for Dongfeng Fengshen Haohan is 20000 yuan, and the maximum for Dongfeng Fengshenhao is 40000 yuan; the maximum for Dongfeng popular models is 60000 yuan; the maximum for Dongfeng Nissan models is 14000 yuan; and the maximum for Dongfeng Honda models is 11000 yuan.

It is understood that at present, Shanghai, Shandong, Chongqing and other places give priority to the introduction of relevant policies, and nearly 30 car companies have also actively responded to the introduction of trade-in subsidy policies. On March 11, according to a message released by the people's Government of Hefei City, from March 16 to March 20, automobile sales enterprises in the joint jurisdiction of Yaohai District, Hefei City, Anhui Province jointly carried out promotional activities. A total of 26 automobile sales enterprises, including BYD, Geely, Mercedes-Benz, Audi, Volvo, Volkswagen, Honda and other brands, held car promotion activities through the issuance of government subsidies + enterprise matching forms of combined consumption vouchers. Car buyers can enjoy up to 16000 yuan in subsidies. However, those who participate in this promotion to purchase new energy vehicles to replace old cars, submit examination materials and pass the examination can enjoy a cash subsidy of 1000 yuan per person per car at the same time, and the maximum subsidy for bicycles is 16000 yuan.

On the same day, Dalian announced that 50 million yuan worth of car coupons would be issued from March 12 to March 31. This 50 million yuan car consumption coupon will take the way of buying a car and giving it away. When purchasing a new car, a subsidy of 4000 yuan will be issued if the purchase cost of a bike is 100000 yuan (including)-200000 yuan; if the purchase cost of a bike is more than 200000 yuan (inclusive), a subsidy of 5000 yuan will be issued. When purchasing a second-hand car, if the bicycle purchase cost is 50, 000 yuan to 100000 yuan, 1000 yuan consumption voucher will be issued; if the bicycle purchase cost is more than 100000 yuan (inclusive), 2000 yuan consumption voucher subsidy will be issued.

With regard to the subsidy policy of trade-in in the automobile market, the China Automobile Circulation Association pointed out: "this policy is of great benefit to the car market, and China's automobile market will continue to strengthen this year with the support of the policy. Consumption promotion policies such as trade-in and scrap renewal are expected to boost the growth of about 1.5 million passenger cars."

The replacement subsidy launched by Dongfeng Motor is also in the form of trade-in. According to the official website, Dongfeng Automobile Group Co., Ltd. is a super-large automobile enterprise under the direct management of the central government, the predecessor of which was founded in the second automobile factory in 1969. In September 1992, it changed its name to Dongfeng Motor Company. In September 2003, the headquarters moved from Shiyan, Hubei to Wuhan. In November 2017, it changed its name to Dongfeng Automobile Group Co., Ltd.

Dongfeng Group shares announced on the Hong Kong Stock Exchange on March 8 that the company expects its net profit loss for the 12 months ended December 31, 2023 to not exceed 4 billion yuan, compared with a net profit of $10.265 billion for the 12 months ended December 31, 2022. The board of directors believes that there are two main reasons for the performance changes in this period. One is that the market space of joint venture non-luxury brands has been greatly squeezed and product prices continue to decline. In 2023, the sales volume of the group's joint venture business fell by 16%, and profits dropped significantly; second, the group's new energy business is still in the strategic investment period, and investment in new energy, intelligent R & D, brand and channel construction continues to increase in 2023.

At present, most of the Dongfeng Automobile Group Co., Ltd. are joint venture brands, the main joint venture brands include Dongfeng Nissan, Dongfeng Honda, Dongfeng Infiniti, Shenlong Automobile, in which the joint venture brand is the main source of Dongfeng automobile sales; independent brands include Dongfeng Lantu, Dongfeng Fengshen, Dongfeng New Energy, Dongfeng Hong, and so on. On March 7, Dongfeng Motor Group spokesman Lu Haitao said that this year's Dongfeng new car sales target will challenge 3.2 million vehicles. For comparison, Dongfeng Motor Group sold 2.4212 million vehicles in the past 2023. The latest figures show that Dongfeng sold 420000 vehicles from January to February this year, up 41.5 per cent from a year earlier.

It is worth noting that, according to CCTV Finance, in order to cope with the off-season of the car market, since the Spring Festival of the year of the Dragon, about 10 domestic car companies have announced a reduction in the price of their models, which are mainly new energy pure electricity and hybrid models. prices are concentrated in the range of 100000 yuan to 200000 yuan, with a maximum drop of nearly 15% to 30, 000 yuan. As the price war continues to spread, the competition in the car market will become more and more fierce.

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