The price of international crude oil has fallen below $60, and there is no rebound in the short term. Even with the sharp depreciation of the Russian currency ruble overnight, the Chinese auto brand stock market suffered setbacks; in the United States, due to the sharp drop in gasoline prices, the sales of energy-saving cars have also shrunk; as for Europe, the future of diesel vehicles may not be fragrant! Trench Cutting Re-mixing Deep Wall Machine Trench Cutting Re-Mixing Deep Wall Machine,Wall Construction Equipment,Underground Wall Forming Machine,High-Speed Wall Forming Machine Xuzhou Jingan Heavy Industry Manufacture Co.,Ltd. , https://www.jinganzhonggong.com
The ruble has fallen. Chinese car profits have been shackled. As international crude oil prices continue to fall, the Russian currency ruble has also entered a period of slump. On December 16, the exchange rate of the ruble against the US dollar fell to a level of 80 rubles for 1 US dollar. On December 17, under the influence of the Russian Central Bank's $200 million foreign exchange reserve intervention, the Treasury's commitment to provide $7 billion in support and other supporting measures, the ruble rebounded more than 9% against the US dollar, but with the US dollar at the beginning of the year, it was 32.66. Compared with the level of the ruble, it has depreciated by more than 84.1%.
On December 16th, not only did Apple close its official website in Russia, but the prices of goods in supermarkets and shopping malls began to skyrocket. Russia has always been the largest overseas market for Chinese car companies. The most direct impact of the ruble's depreciation is that the profits of Chinese car companies have fallen sharply. On December 17, Geely Automobile Holdings Co., Ltd. announced on the Hong Kong Stock Exchange that it expects its annual net profit to fall by about 50% as of December 31 this year. Geely Automobile explained part of the reason for the decline in profits as “unrealized foreign exchange exchange losses included in the company’s business in Russiaâ€.
In fact, the unlucky ones are more than just a Geely family. According to statistics, at present, there are more than a dozen brands in Geely, Great Wall, Chery, Lifan and BYD selling complete vehicles in Russia. Among them, Geely, Lifan, Great Wall and Chery belong to the “first echelon†with annual sales of nearly 20,000 vehicles. BYD, on the 18th, experienced a nightmare in the stock market: its H shares were panicked in the afternoon, and fell nearly 47%, eventually closing at 25.05 Hong Kong dollars, down 28.8%. In the case of a sharp fall in H shares, A shares fell. The stock analyst's analysis of its plunging is most likely due to its hundreds of millions of exchange losses in Russia and the abandonment of Warren Buffett. Subsequently, BYD issued a statement saying that the company's exports of Russian products were small (less than $1 million) and settled in US dollars. There was no exchange loss. At the same time, the subsidiary of Warren Buffett still holds 225 million Hong Kong shares.
As the devaluation of the ruble may continue, Chinese car companies have also begun to take a lot of "self-rescue" measures: for example, Jianghuai Automobile has now begun to sell at the price of the US dollar; Geely Automobile has increased the retail price in Russia.
However, these tactics can only be contingency in the short term, but in fact, due to the increase in prices, the market competitiveness will also decline accordingly. Some insiders suggested that with the depreciation of the ruble and the reduction of production costs, Chinese car companies should accelerate the localization process, which will be a great opportunity to enter the Russian market.
SUV/ pickups sell well Toyota Prius sales decline and crude oil prices have dropped, which has also affected the US market – but it is clear that it is a good thing for American auto companies that are known for their “oil tiger†models, but they are good at For Toyota, an energy-efficient car, it is not necessarily the case.
According to the Nihon Keizai Shimbun news, due to the reduced demand for hybrid vehicles in the market, Toyota Motor was forced to cut Prius output in Japan, which in turn affected Toyota's overall output. According to Toyota's original plan, its Japanese factory produced 13,000 cars per working day. However, Toyota recently informed suppliers that by January 2015, the average daily output will be reduced by about 500 units. This will result in a reduction of approximately 20,000 Toyota's domestic production in the first quarter of next year compared to the original plan. In the United States, Prius sales continued to decline, falling more than 13% in October and November, and basically reducing the sales of nearly 500 vehicles per month.
However, the good news is that the market demand for SUVs and pickups is increasing, and American brands are starting to exert their strength. In November, GM's Chevrolet and GMC brand main pickup truck models increased 34% year-on-year to 65,300 units; Chrysler's sales in the US domestic market in November increased by 20.1% year-on-year to 170,800 units, and its RAM pickups were larger than the same period last year. 21% increase, Jeep SUV sales increased by 27% year-on-year.
France plans to cancel diesel vehicle subsidies In Europe, energy-saving and environmentally-friendly diesel vehicles have always been the "killer" of European car companies. However, oil prices continue to fall, which has an impact on the diesel market. According to the US "Automotive News" report, the French government will raise the diesel consumption tax in 2015 and cancel the policy of encouraging the purchase of diesel vehicles.
French Prime Minister Manuel Vals said that the government will "gradually" cancel the policy of encouraging diesel vehicle sales.
In recent decades, the government has lowered fuel prices and tax on car purchases and encouraged car buyers to choose diesel cars. However, in recent years, environmental advocates have consistently accused diesel emissions of damaging urban air quality and causing health problems. Coupled with the sharp drop in oil prices, the advantages of diesel vehicles are even less obvious. However, the move was strongly opposed by the French car companies Peugeot Citroen and Renault. PSA Peugeot Citroé¾™n said the move would weaken the market competitiveness of French car companies.