The automobile industry is a pillar industry of the national economy, and is one of the important fields for driving domestic demand and expanding consumption. With the arrival of the peak consumption season at the end of the year, many regions have intensively introduced multiple rounds of car purchase subsidy policies to fully promote car consumption, which has played an important supporting role in boosting consumer confidence, driving industrial development, and stabilizing the upward trend of consumption. Subsidy policies have been intensively introduced. Starting from November 28th, Nanjing will launch the second round of automobile consumption subsidy activities this year. Consumers who purchase eligible cars can enjoy corresponding consumption subsidies. The relevant person in charge of the Nanjing Municipal Bureau of Commerce introduced that the new subsidy policy in this round presents three characteristics: the overlapping use of city level and district level discounts, the linkage between government and enterprises, and clear and easy to understand policy settings. To further stimulate and expand automobile consumption, Longgang District of Shenzhen launched a new round (fifth round) of car purchase subsidies starting from November 17th, with a total subsidy amount of 50 million yuan, which is valid until December 31st of this year. Chen Jiawei, the head of the Circulation and Consumption Promotion Department of the Luohu District Bureau of Commerce in Shenzhen, introduced that Luohu will launch a new round of car purchase subsidies starting from November 13th, distributing 100 million yuan in car purchase subsidies, and partnering with automotive and gold jewelry enterprises in the jurisdiction to launch the "Buy a Car and Get Jewelry" activity, forming a two-way overlapping effect of cross-border linkage. On November 24th, the Development and Reform Commission of Sichuan Province issued several measures on restoring and expanding consumption, proposing to further expand the consumption of new energy vehicles, accelerate the comprehensive electrification process in the public sector, and increase the promotion and use of new energy vehicles in public areas such as government affairs, public transportation, and taxis to promote consumption. Accelerating the release of consumption potential through active and effective consumption promotion activities is an important support for enhancing consumer willingness and stimulating domestic demand potential. In June of this year, the first round of automobile consumption subsidies issued by Nanjing drove the sales of over 13000 vehicles, of which new energy vehicles accounted for about 40% of the sales, directly driving the sales of nearly 2.6 billion yuan in the automobile market. As soon as the automobile consumption subsidy policy was implemented, Xin Fei, the sales manager of Tangshan Branch of Nanjing Xie'ao Automobile Sales Service Co., Ltd., began to get busy. "In recent days, in terms of sales, the daily average sales volume of the store has increased by 20% compared to before, and the growth rate on weekends is even greater.". Shenzhen amplifies its momentum and unleashes its potential through a combination of international auto shows and subsidy policies. At the 15th Shenzhen International Auto Show (Auto Carnival) and Intelligent Connected and Future Travel Auto Expo in 2023, a total of 18839 vehicles were booked and sold, with a total transaction amount of over 5.7 billion yuan. The rise in automobile consumption provides assistance for the recovery of the Shenzhen consumer market. Data shows that in the first 10 months of this year, the total retail sales of consumer goods in Shenzhen reached 856.309 billion yuan, a year-on-year increase of 7.3%. "Since the beginning of this year, major car companies have launched many discount and promotional activities in Sichuan, which have a very obvious effect on boosting consumption," said Tang Jiqiang, director and chief research scientist of the West Finance Think Tank at Southwest University of Finance and Economics. In the first three quarters, Sichuan achieved a total retail sales of consumer goods of 1894.06 billion yuan, a year-on-year increase of 9.2%, with a growth rate 2.4 percentage points higher than the national average. Among them, the retail sales of new energy vehicles increased by 67.2% year-on-year. Adapting to future industry trends: The recovery of the automotive market is crucial for the overall economic recovery
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：economic daily
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