The Chinese auto industry is being swept by the antitrust storm. On August 6, the National Development and Reform Commission announced that Audi, Chrysler and 12 Japanese auto parts companies will have a monopoly and will be punished. The report said that the fine may be as high as several billion yuan.
At the same time, companies such as Mercedes-Benz and Toyota are also included in the survey or interview. For a time, many high-end and luxury car giants rushed to lower the price of the whole vehicle and the price of parts and components. In contrast, some of the joint venture car companies showed an unsettled Enron.
Some people think that the Chinese government's anti-monopoly on automobiles and related industries is in response to the call to create a fair market environment. Some foreign media have questioned this protectionism. Others pointed out that this anti-monopoly is essentially after China's accession to the WTO. The amendment of the component policy "major mistakes" requires a re-examination of relevant policies. For a time, there were different opinions.
The author agrees with some of these points, but there is a saying that it is difficult to cover the water. The "hollowing" of auto parts technology has been one of the lifeblood of China's auto industry for more than a decade. At present, what anti-monopoly needs to do in the auto industry is anti-monopoly on the market share of multinational giants, breaking its monopoly in China to protect its auto industry.
As an economic law that encourages market competition and prevents enterprises from making huge profits through unfair operations, the Antitrust Law (anti-monopoly law) was born in Western countries more than 120 years ago, and formed a globally popular legislative orientation under the trend of globalization.
With the rapid development of multinational corporations, the anti-monopoly law has further developed into a tool for developed countries to protect their domestic capital from vying for international markets, while at the same time stopping foreign multinationals from influencing or manipulating their domestic markets. In order to offset its impact, prevent and stop monopolistic behavior, protect fair competition in the market, and improve the efficiency of economic operations, developing countries have also embarked on relevant legislation. In August 2008, China enacted the first Anti-Monopoly Law.
At this stage, China has three different state agencies implementing anti-monopoly laws, but it is mainly limited to M&A transactions and pricing supervision issues. Even if the investigation and punishment are implemented, the auto industry can only maintain the health of the price mechanism on the surface, bring benefits to consumers, and play a deterrent role in the short term.
However, it is difficult to find in the long run that the expansion of foreign brand share and information asymmetry will still lay a seed for the Chinese auto industry and the market. What's more, now that the guidance price or retail price of multinational brand automakers has dropped, it is easy to "compensate" back with the method of increasing the price of the car. In the end, wool is on the sheep, and anti-monopoly encourages monopoly breeding, which is counterproductive.
Taking parts and components as an example, in 2012, auto parts companies with foreign investment background accounted for more than 3/4 of the total industry. Among these enterprises, the proportion of foreign-owned enterprises is 55%. Since local parts companies rarely have core technology, they can only engage in casting processing with low technical content. The continuous decline in the prices of foreign-funded parts and components further exacerbated the competition of domestically-funded foreign capital.
It is reported that the anti-monopoly investigation and punishment of several parts and components enterprises in Japan was also implemented because the "communication meeting" held in Japan was provided by a person with a lax attitude. Although the news has not yet been confirmed, Imagine that the more experienced foreign-funded enterprises will intensify their efforts in China in the future with technological advantages and information advantages. This situation is particularly evident in countries that have lost ownership of the automotive industry, such as Brazil and Russia.
In order to avoid repeating the same mistakes, it is imperative to crack this share monopoly. With the large-scale advantage brought by the high share, foreign brands are fully capable of reducing prices on a large scale, pushing down the “dominoes†of the car price, and ultimately controlling the Chinese auto market, which has an impact on the Chinese auto industry. This is especially true for joint venture brands that only have manufacturing and sales links.
Last Friday, data released by the China Association of Automobile Manufacturers showed that the market share of foreign brands has increased year by year. Take the European system as an example, its market share rose from 20.8% in 2009 to 29.3% in the first half of this year. Among them, the sales volume of the North and South Volkswagen in the first seven months in China exceeded the total sales of all independent cars.
In contrast, the share of self-owned brand passenger cars and cars was “eleven consecutive declinesâ€, which were 34.6% and 17.7% respectively. This is the first time that the share of dozens of self-owned brands has fallen below 20%. The monthly minimum since the beginning of the year.
The author believes that the current anti-monopoly measures on the share to be taken can start from the market segment. Take the A-class car market as an example. Volkswagen Santana, Jetta, Baolai, Sagitar and other similar platform models have a share of more than 15% in this market segment. Since the share can be said to constitute a monopoly, the public is taking high profits. The price changes are enough to affect the entire market segment.
Therefore, for these platform-sized models with a total volume of one million, the national government should intervene through quota restrictions or impose punitive taxes on its excess sales. Even an anti-dumping investigation can be initiated on it.
On the other hand, it can emulate the United States, in order to protect the domestic auto industry, a series of government-level operations on a high market share of a multinational auto giant, such as the opposite monopoly measures for safety, fuel consumption and environmental regulations. Staged suppression of companies whose share growth rate is too fast, to prevent the formation of trusts. Although it has paid other costs and has been questioned by the world, it is clear that it is not only about face, but about the big problems of the zizi.
The data shows that the total sales volume of China's self-owned brand passenger cars last year was only 5.65 million units, which together could not match the Ford Motors, which ranked sixth in the world in terms of sales volume. On the one hand, the market share of independent brands has been declining. On the other hand, joint venture brands have expanded their production in China. Some brands have already planned more than 15 factories, with an annual production capacity of 4 million units.
Most importantly, in the case that brands and technologies are difficult to positively counter the joint venture brand, the cost advantage of the independent brand has been completely lost under the scale disadvantage. In the long run, independent brands will be difficult to sustain.
Automobiles, as the pillar industries of the national economy, should have a top-level design at the national strategic level, such as limiting the unlimited expansion of joint venture brands' capacity, or using fuel consumption standards to limit their excessive expansion. If we can't take effective measures and let it develop, China's own brand can only become the "factory factory" of the joint venture brand.
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