jackpotyantra| Remove social security restrictions! Shenzhen relaxes car purchase restrictions. Will other first-tier cities follow suit?

Shenzhen has once again relaxed its policy on the purchase of new energy vehicles.

A few days ago, the Shenzhen Municipal Bureau of Transportation issued a notice on adjusting the application conditions for the increment index of new energy cars, abolishing the social security restrictions for non-deep household registered persons applying for the increment index of new energy cars, and relaxing the condition limit for only one car registered in Shenzhen to apply for the increment index of hybrid electric cars.

This means that Shenzhen citizens only need to hold a residence permit to apply for the increment index of new energy cars, while individuals who already have one Yue B brand can also apply to buy another hybrid car. Prior to this, according to the relevant regulations, the eligibility to buy new energy vehicles was required to pay social security in Shenzhen for more than 24 months.

Want to improve the penetration of new energy vehicles?

In fact, this is not the first time Shenzhen has relaxed its policy on the purchase of new energy vehicles. As early as April 2023, the Shenzhen Municipal Bureau of Transportation said in the Circular on adjusting the Application conditions for incremental indicators of New Energy cars that non-deep household registered persons holding valid residence permits in Shenzhen, those who apply for the incremental index of new energy cars (pure electric cars and hybrid cars) are not required to pay basic medical insurance in the city for more than 24 months in a row.

This time, Shenzhen is to further abolish social security restrictions. Cui Dongshu, secretary general of the National passenger car Market Information Association, believes that at present, the number of cars in Shenzhen is still about 4 million, and compared with other regions, the number of cars is on the low side, so Shenzhen has great potential to further promote automobile consumption.

Picture sourceJackpotyantraDaily economic news photo by Liu Guomei (file photo)

A reporter from the Daily Economic News noted that the Shenzhen Municipal Bureau of Commerce recently launched automobile "scrap renewal" and "replacement renewal" subsidy activities to support the replacement of old cars and promote consumption upgrading. Among them, the maximum subsidy for scrapping old cars and buying new energy passenger cars is 10, 000 yuan; the subsidy for replacement (selling old cars and buying new cars) is up to 8000 yuan, and the subsidy for buying new energy vehicles is 1000 yuan higher than that for fuel vehicles.

A regional sales manager in South China, an autonomous car company, said that in his area, more than half of the users were additional buyers, and the proportion of trade-in users was more than 30%. In particular, after the introduction of the trade-in policy, the consultation volume and orders in stores and online have increased significantly.

There is a view that Shenzhen is to improve the market penetration of new energy vehicles behind the cancellation of social security restrictions on the increment index of new energy cars for non-deep household registered personnel. Data show that the penetration rate of new energy vehicles in Shenzhen is 67% in 2023.Jackpotyantra.9%; by the end of 2023, the number of new energy vehicles in the city exceeded 970000, and the electric penetration rate of new cars exceeded 60%.

In August last year, the Shenzhen Municipal Bureau of Industry and Information Technology issued the Shenzhen three-year Action Plan for speeding up the Construction of a New Generation World-class Automobile City (2023-2025), which mentioned that "by 2025, the number of new energy vehicles in Shenzhen will reach 1.3 million, and the market penetration rate of new energy vehicles will reach 70%."

Experts: liberalizing purchase restrictions can effectively promote consumption potential

The relaxation of Shenzhen's policy on the purchase of new energy vehicles has played an exemplary role for other cities with purchase restrictions. Up to now, Beijing, Shanghai, Guangzhou, Tianjin, Hangzhou and other places are still implementing car purchase restrictions. If you want to buy a car, you need to obtain license plate indicators by means of lottery and licensing.

Public data show that 33 per cent of cities with more than 6 million cars were restricted in 2023 and 50 per cent of cities with 5 million cars. Car ownership in some restricted cities, such as Shenzhen, Guangzhou and Hangzhou, has lagged far behind other non-restricted cities.

By 2023, there are 51 cities with 1 million-2 million cars, 18 cities with 2 million-3 million vehicles, and 20 cities with 3 million-5 million vehicles. Cui Dongshu said: "cities with less than 4 million cars need to consider relaxing purchase restrictions." Liberalizing purchase restrictions can effectively promote consumption potential, especially in cities where some purchase restrictions lead to serious backwardness in urban car ownership, car consumption has more room for growth. "

Photo: photo taken by Liu Guomei, Daily Economic News (file photo)

In recent years, in the relevant policies issued by the central and local governments, "optimizing car purchase restrictions" has been mentioned many times. According to CCTV, in March this year, the State Council issued an action plan to promote large-scale equipment renewal and trade-in of consumer goods, which proposed to "optimize car purchase restrictions according to local conditions and promote the construction of a lifecycle management information interaction system for automobile use".

According to Xinhua News Agency, in July last year, the National Development and Reform Commission clearly pointed out in the "measures to restore and expand consumption", "optimize the management of car purchase and use." No new car purchase restrictions are allowed in all regions, and car purchase restrictions are optimized in areas where purchase restrictions have been implemented according to local conditions.

China Merchants Securities pointed out in its research report that the purpose of relaxing the car purchase restriction policy is to fully release the consumption potential, and relaxing the purchase restriction is a kind of incentive means with low policy cost and quick effect.

Reporter | Duan Siyao

| | Daily Economic News nbdnews original article |

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