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This year, the lack of favorable factors has made the performance of the domestic light commercial vehicle market unsatisfactory. Data show that from January to February, the cumulative sales volume of domestic light trucks and light passengers dropped by 9.5% and 6.8% respectively year-on-year. Although today, the entire market still has not seen signs of recovery, but Yao Hongguang, an analyst at Huatai Securities, believes that with the improvement of social and economic activity, the implementation of tax reduction policies for small and micro enterprises, the rapid development of urban logistics, etc. Driven by factors, the domestic light commercial vehicle market is expected to bottom out in the second quarter. Since then, this momentum will continue to be maintained, which will drive the annual sales of light trucks and light passengers to achieve moderate growth of around 5%.
As we all know, the trend of the light commercial vehicle market mainly depends on the degree of social and economic activity. Since February, both PMI data and industrial added value have shown that the domestic economic growth is still significant. Coupled with expectations that monetary policy is expected to continue to ease, these will benefit the recovery of light commercial vehicle sales. “There are indications that the time for the light commercial vehicle market to stabilize and pick up is not far behind.†Yao Hongguang predicts that, in the long run, the rapid development of urban logistics and SMEs will be an important direction for China’s economic transformation in the future. Therefore, the end-user demand for domestic light commercial vehicles will continue to be released under the policy of logistics “State Nine Article†and SME tax reduction policies.
Moreover, in this process, the trend of high-end, specialization, and integration of light commercial vehicle products will also become more apparent. As a result, the competition in the high-end market will become increasingly fierce. This is particularly evident in the light passenger market.
According to relevant sources, the total number of light-season sea lions represented by Jinbei, Southeast, and Futian is currently at a relatively large negative growth stage. The European light passengers represented by Jiangling and Nanqi began to show positive growth. This shows that the differentiation in the product level of the light passenger industry will continue.
In the current high-end light passenger camp, Jiangling Ford Transit brand light passengers as a representative of the traditional European high-end light passengers, and Nanjing steam Iveco has been constantly defending its dominant position in the high-end light passenger market; Dongfeng, JAC, SAIC and other new entry Those who continue to launch new products through horizontal business transformation and vertical replacement will impact the market. It is understood that companies such as Yutong, Changan, and even Chery and Great Wall, which are car companies, also want to enter the high-end light passengers market, which is a relatively profitable segment. "According to our judgment, in the next 3 to 5 years, there will be 5 to 10 vehicle companies cutting into this market, sharing the current market share of around 100,000 yuan with traditional light passenger companies." An industry source told reporters. "The continuous launch of competing products, the influx of latecomers, and the dropping of low-end MPV product lines have determined that the competition in the high-end light passenger market will inevitably become fiercer."