In the second half of the year, Japanese cars are facing a double test in the Chinese market. Li Pumin, secretary-general of the National Development and Reform Commission, said recently that the NDRC has completed an investigation into the monopoly of auto parts and bearing prices for 12 Japanese companies and will impose penalties according to law. As soon as the news was thrown, once again, a wave of waves in the automobile industry was stirred up, and Japanese automakers also stepped into the ranks of price cuts after the European and American auto companies.
Japanese automakers Guangqi Honda and GAC Toyota almost stood up at the same time on August 8th, and will reduce the price of some parts and components from September 1 and August 18 respectively, which will enable foreign-owned brand automakers who are currently reducing prices in China. 7 homes. It is reported that Guangqi Honda has nearly 30,000 kinds of parts and components related to price adjustment, accounting for 70% of the total parts, with an average drop of 20%. However, insiders of Guangqi Honda declined to comment on the news, saying that the company is putting high temperature holiday, and the specific price adjustment range and the decline have not yet been finalized. Guangzhou Automobile Toyota has not announced the specific price adjustment range and the decline. Dongfeng Nissan also said that since April 2014, the National Development and Reform Commission and the Guangdong Provincial Development and Reform Commission have paid close attention to the problems existing in Dongfeng Nissan's vehicle and after-sales service. Dongfeng Nissan will attach great importance to the important guiding opinions put forward by the National Development and Reform Commission, and combine the laws of the Anti-Monopoly Law. Regulations, actively discuss and formulate improvement plans in related fields.
Market prices after Japanese car companies control It is understood that Audi has admitted to the NDRC that there is a monopoly. Auto expert Zhang Zhiyong said that Audi and other luxury cars are mainly stepping on the "vertical monopoly" red line, limiting the price of the whole car and the price and maintenance price of the spare parts of the 4S shop. It is estimated that the situation of the non-luxury Japanese car companies is not the same, it should be Horizontal monopoly, which is related to the relatively closed supply chain system of Japanese cars. Therefore, in addition to lowering the price of spare parts, Japanese automakers should also open the parts supply chain to other automakers.
Japanese component companies have had precedents in manipulating prices, and they have been subjected to antitrust investigations in the United States and Europe. For example, in November 2013, Japanese tire giant Toyo Rubber Industries Co., Ltd. admitted to participating in the price monopoly and agreed to pay a fine of 120 million US dollars.
According to the US Department of Justice, from 1996 to 2012, when Toyo Rubber sold anti-vibration rubber products to Toyota, Nissan, and Fuji Heavy Industries in the United States, it repeatedly cooperated with others in manipulating prices in related bidding; in September 2013, the US Department of Justice We thoroughly inspected nine parts and components companies headquartered in Japan and imposed a fine of US$745 million. Parts and components involved in price manipulation include seat belts, radiators, windshield wipers, etc.
Experts pointed out that the Japanese A-class car has a small price difference at home and abroad. However, due to the relatively closed supply chain of parts and components, the competition is not sufficient. It is difficult for domestic domestic component companies to enter the Japanese car procurement system. Therefore, Japanese automakers may control the post-market price to a certain extent, resulting in a higher average zero-to-vehicle ratio of Japanese cars. For example, Toyota's Yaris has a zero-to-nale ratio of 720.28%.
Japan's auto parts industry firmly controls the high-value-added automotive core parts market, such as semiconductors and integrated circuits, and is also unique in the automotive industry's “post-installation market” such as automotive electronic systems and display screens. China has a high dependence on Japanese auto parts. In 2013, China's auto parts imported from Japan amounted to US$9.58 billion, accounting for 27% of the total imports of the products.
Sun Muzi, an auto analyst at Taibo Yingsi Information Consulting Co., said in an interview with the media that the three luxury car companies of Odeida occupy the majority of the market share in the luxury car market, so they have certain market pricing rights and voice rights. There are opportunities to control prices on the whole vehicle, while the situation of Japanese cars is not the same. The competition in the B and B markets is becoming more and more fierce. It is difficult to obtain high profits by monopolizing the price of the whole vehicle, but Japanese car companies Parts and components are at the leading position in the world at home and abroad, while Japanese automakers have relatively strict control over parts factories and 4S stores, or use the system to control the market to obtain high profits.
The pressure on self-owned brands may increase According to the current situation that some Japanese automakers are starting to loosen their prices on parts and components, some industry insiders predict that Japanese automakers will show a downward trend in parts and prices and relax after-sales management. Zhang Zhiyong believes that with the decline in the price of spare parts, this will have a certain impact on the operating income and profits of Japanese cars in the second half of the year. The after-sales service income is relatively high in Japanese car companies.
This is different from the strong recovery in the second half of last year. At present, many Japanese automakers are not optimistic in the market. Toyota, Nissan and Honda's Japanese giants saw a year-on-year decline in sales in July this year, the largest drop in Honda, down 22.7% year-on-year; Nissan fell 12.3% year-on-year, also reached double-digit decline; Toyota fell 1.1%. In terms of target completion rate from January to July, Nissan was 49.99%, Toyota was 49%, and Honda was 43.7%. In less than half a year, if it is to achieve the annual sales target, Honda and Toyota have obvious difficulties, and Nissan also faces certain challenges. Under the storm of anti-monopoly, the market has added some uncertainties. However, both Toyota and Honda's joint venture, Guangqi Honda, expressed confidence in completing the full-year target and have no plans to adjust their targets.
As the price of parts and components declines, it will stimulate domestic consumption and demand; however, independent brands are even more worrying. As the price of joint venture vehicles or parts further declines, the pressure on self-owned brands will likely increase.
Note: The horizontal monopoly agreement refers to the monopoly agreement reached between the competing operators, including the implementation of fixed prices, limiting production, dividing the market, restricting purchase or development, and boycotting other competitors to exclude and restrict competition.