HS code correlation with duty rates

The HS code correlation with duty ratessales of new energy vehicles fell sharply, and low-end models became the market leader. In recent years, with the global More and more attention is paid to the issue of insurance, and new energy vehicles have become the new favorite of the automobile industry. Under the impact of the COVID-19 pandemic, consumers' car purchase plans, economic conditions, government policies and other factors have changed, and the new energy vehicle market has also ushered in significant challenges.According to the data released by a number of automobile research institutions, due to the impact of the epidemic, the production and sales of new energy vehicles in China declined significantly from January to May 2020. Among them, the output of new energy vehicles in May fell by 35.1% year-on-year, and sales fell by 32.8% year-on-year. However, the decline in the production and sales of traditional cars is far less than that of new energy vehicles. This shows that even in the current environment, the popularity of new energy vehicles has not diminished. However, the reason for the decline of the new energy vehicle market is not simple. First of all, due to the impact of the COVID-19 pandemic, consumers are uncertain about the future economic situation and lifestyle, and the car purchase plan will naturally be affected. Secondly, the price of new energy vehicles is higher than that of traditional vehicles, and the number of owners is less, and it is more difficult for car owners to accept the burden of purchase, maintenance and other expenses.During the epidemic, many people's income and consumption plans have fluctuated. Compared with buying new energy vehicles, more people choose to reduce consumption and wait for the recovery of the economic situation. In addition, at the policy level, a total of 18 provinces across the country launched new energy vehicle subsidy policies in 2020, with a maximum subsidy amount of up to 60,000 yuan. However, because many regions have used the subsidy funds to promote support services, build charging facilities, etc., rather than reducing or exempting car-buying families, the actual purchase cost of new energy vehicles has not been greatly reduced. In the face of such a market situation, it seems that only those low-end new energy models can become the leader of the market. Mingsen electric vehicle manufacturers of low-end models have become the leader in sales. Among the low-end models, the price is more affordable and can better meet the needs of consumers.At the same time, the rich and diverse interior design and more humanized user experience of low-end models also enable consumers to better enjoy driving. In addition, in the low-end model market, the cost-effectiveness of Mingsen electric vehicle manufacturers is also particularly prominent. The improvement of product cost-effectiveness can better meet the needs of consumers and lead to the increase of consumer purchasing power. And this sales method also makes the manufacturer firm in the sales strategy of low-end models. In a word, the sharp decline in the new energy vehicle market makes people want to find the reason. Only by welcoming the mainstream of the market can we better stimulate the potential of the market, and the rise of low-end models is a clear signal of the direction of the market. In the future, new energy vehicle manufacturers and policymakers need to pay more attention to details and be close to consumer needs in order to expand the market.

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