Commercial vehicles will usher in significant favorable interest rate cuts with limited impact on passenger car market
2018-06-29 10:02:52
Cut interest rates by 1.08 percentage points This powerful drug may have a limited effect on the promotion of the passenger car market, but it will directly promote consumption for commercial vehicles, especially the heavy truck industry. At the first time when the policy was issued, various experts in the automotive industry told this reporter.
"This time the interest rate cut will obviously play a greater role in the housing market. The impact on the Chinese auto market will not be too obvious." Shi Jianjia, a research fellow at the Institute of Automotive Research of Pacific Securities Institute, pointed out that in fact, the benchmark deposit and loan rates of RMB and financial institutions have been lowered. The reserve requirement ratio will play a chained role. When the deposit reserve ratio of financial institutions is also adjusted downwards, the money supply will increase, which will increase investment. At the same time, the reduction in the cost of capital will also increase investment. This will increase the purchase of capital goods for enterprises. One of the biggest results of this chain effect is that commercial vehicles, especially the heavy truck market, will usher in major benefits.
Yan Jijia believes that from a theoretical point of view, this regulation and control policy will also have a positive effect on the passenger vehicle market, because lower deposit rates will stimulate consumption. However, the proportion of Chinese consumers using loans to buy cars is only 20%, so the impact of interest rate cuts on passenger cars will not be particularly significant.
Cui Dongshu, deputy secretary-general of the National Passenger Vehicle Market Information Association, also believes that although the interest rate cut is large, it does not have a significant effect on the passenger car market. In addition, China's low-end car basically has no loans. The most concerned about the change in interest rates is the owners of high-end cars. In the financial crisis, high-end cars have suffered the most.
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