Two departments adjust policies related to automobile loans and encourage the exchange of old cars for new ones
On April 3rd, the People's Bank of China and the State Administration for Financial Supervision jointly issued a notice on adjusting policies related to automobile loans. The purpose of this notice is to clearly state that, on the basis of complying with laws and risk control, financial institutions can decide the maximum proportion of loans for self use traditional power vehicles and new energy vehicles based on the borrower's credit situation and repayment ability. The Notice also encourages financial institutions to enhance the innovation of financial products and services in specific scenarios such as considering car upgrades, and appropriately waive the penalty for early repayment during the car replacement process.
China Association of Automobile Manufacturers: Confidence in the new energy market is gradually recovering
The China Association of Automobile Manufacturers (CAAM) pointed out that some car companies have recently implemented continuous price reductions, which has triggered a short-term wait-and-see attitude in the market. As the price reduction cycle gradually comes to an end, consumer confidence in the new energy vehicle market is slowly recovering.
Under the national consumption promotion policies and relevant measures launched by multiple local governments, combined with the resurgence of auto shows, it is expected to effectively attract more consumer attention. At the same time, the price reduction of key materials such as lithium carbonate provides favorable conditions for manufacturers to launch high-performance new energy vehicle models, which is expected to further increase market heat and attention.
China Association of Automobile Manufacturers: It is expected that the retail sales of passenger cars in March will reach 1.699 million units, a year-on-year increase of 7%
According to data released by the China Association of Automobile Manufacturers on April 3rd, preliminary statistics show that from March 1st to 31st, the retail sales of passenger cars in the market reached 1.699 million units, a year-on-year increase of 7% and a month on month increase of 54%. Since the beginning of this year, the cumulative retail sales of passenger cars have reached 4.841 million units, a year-on-year increase of 13%.
In terms of new energy, from March 1st to 31st, the retail sales of new energy vehicles in the market reached 698000 units, a year-on-year increase of 28% and a month on month increase of 80%. Since the beginning of this year, the cumulative retail sales of new energy vehicles have reached 1.758 million units, a year-on-year increase of 34%.
Tesla launches zero interest financial policy for the first time
Tesla China announced on April 3rd that it will launch a limited time and low interest replacement policy for the Model 3/Y model, and for the first time introduce a "zero interest" installment purchase discount policy. It is reported that the latest Model 3/Y model can be ordered before the end of April, with a maximum of 3 years of zero interest or 5 years of ultra-low interest. Previously, Wall Street analysts had lowered Tesla's profit forecast for this year.
Online rumors suggest that GAC is returning to Chery
Recently, it was reported that the Changshu government is promoting negotiations between Chery and Baoneng Group with the aim of jointly purchasing equity in Guanzhi Automobile. Chery Automobile is discussing the acquisition of a 30% stake in Guanzhi Automobile, which may give it a chance to regain control of Guanzhi Automobile. In this context, an official document from Guanzhi Automobile Co., Ltd. revealed that Baoneng Group has positioned Guanzhi Automobile as one of its core businesses and has invested more resources. The company has introduced new strategic partners, hoping to drive resumption of work and production through overseas markets.
Meituan Wangxing Ideal Automobile's shareholding has dropped to 21.53%, after consecutive reductions in holdings in the previous three trading days
According to information disclosed by the Hong Kong Stock Exchange, Meituan CEO Wang Xing has reduced his holdings of Ideal Automobile stocks for three consecutive trading days, totaling 4.1623 million shares, involving nearly HKD 503 million, and his shareholding ratio has decreased from 21.76% to 21.53%. Ideal Automobile responded that the reduction was a personal act and did not involve any part of Meituan's shareholding.
Extreme Krypton Plan Restarts New York Stock Exchange IPO
Geely's high-end electric brand, Jike, has restarted its IPO plan in New York with the goal of raising up to $500 million.
This plan was suspended in November last year due to mismatched valuation expectations, and the instability of global financial markets also had an impact on the plan. According to informed sources, Jike is currently conducting a non trading roadshow before its IPO and meeting with potential investors.
Extreme Krypton stated in a statement that it has submitted public documents to the US Securities and Exchange Commission and is currently preparing for them.
Toyota will debut two pure electric models at the Beijing Auto Show
On April 3rd, Toyota announced at a media conference that two new pure electric vehicle models will debut globally at the Beijing Auto Show.
These two models are "bZ Sport Crossover Concept" and "bZ FlexSpace Concept Joyful Space". The bZ Sport Crossover Concept is a crossover model jointly developed by Toyota, BYD Toyota Electric Vehicle Technology Co., Ltd., FAW Toyota, and Toyota R&D Center (China), and will be produced and sold by FAW Toyota.
The bZ FlexSpace Concept is an SUV model, jointly developed by Toyota, GAC Group, GAC Toyota, and Toyota China R&D Center. GAC Toyota will be responsible for the production and sales of this model.
Isuzu will launch L4 level autonomous truck business in the 2028 fiscal year
Japanese automaker Isuzu announced on April 3rd that the company will launch a truck and bus business using Level 4 autonomous driving technology as early as the 2027 fiscal year, achieving fully autonomous vehicle operation under specific conditions. The company has been acquiring autonomous driving technology and building basic services since the spring of this year.