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Stimulated by the good demand for downstream automobiles, the domestic rubber market may have room
to rise.
According to the July passenger car sales data released by the Passenger Association of China, China's narrow passenger car market achieved retail sales of 1.
6745 million units, a year-on-year increase of 6.
13%.
By model, sedan sales were 848,900 units, a year-on-year increase of 0.
18%; MPV sales were 140,800 units, down 8.
09% y/y.
SUV sales were 684,700 units, up 18.
64% y/y, remaining the main driver
of growth in the passenger car market.
Since April, the growth rate of China's narrow passenger car sales has gradually increased, and the growth rate has exceeded 5%
for two consecutive months.
Negative factors such as the overdraft effect of the early purchase tax, the reduction of new energy vehicle subsidies, and the off-season of the industry have been gradually eliminated, and terminal demand has grown
steadily.
The auto dealer inventory warning index in July was 52.
5%, down 5.
7 percentage points from the previous month, and still above the warning line
.
In order to prepare for the peak sales season, dealers took the initiative to increase inventory
.
In terms of policy, on August 7, the Ministry of Finance and the State Administration of Taxation issued the Vehicle Purchase Tax Law of the People's Republic of China (Draft for Comments), which clarifies that the purchase tax for small-displacement vehicles will return to the 10% level from 2018, confirming the withdrawal time
of the preferential purchase tax policy.
Affected by the peak consumption season and the cancellation of purchase tax incentives, there will be a definite concentrated purchase phenomenon in the fourth quarter of this year, which is conducive to the downstream consumption
of Tianjiao.
