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Bank credit policy hits car line of business continuously, influence get effect
From;    Author:Stand originally
Chinese people bank decides, remove financial orgnaization one year from October 29, 2004 period deposit moves 0.27 percent on standard interest rate, a year period loan moves 0.27 percent on standard interest rate. Other each class is put, loan interest rate also is adjusted accordingly, in go up for a long time amplitude modulation is more than short-term. In the meantime, relax further interval of float of interest rate of financial orgnaization loan and allow the float below RMB saving interest rate. So the first time that comes 9 years as China is added breath, what kind of effect can you produce to automobile industry?

In line of business of our country car it is the industry with a technology, capital and concentrated labour force. Because company of our country car is global existence own reserves is insufficient, production manages place to need capital to rely on the problem that bank loan solves mostly, because this is current of car line of business be in debt on average rate level is about 60% , car kind appear on the market the average indebted level of the company wants relatively the industry is average the level is low nearly 10 percent, and the between each enterprise difference inside course of study is very apparent.

The capital of car line of business is concentrated model the characteristic basically expresses again the following now two respects:

It is to expand produce can build place to need capital with sale site, include the fixed assets investment such as workshop, equipment and new product research and development, raw material, form a complete set purchase and manufactured goods takes the circulating fund demand such as paragraph and advertisement conduct propaganda. Among them the proportion that investment holds fixed assets to be in debt entirely partly is about 10% , additionally 90% basically be short-term circulating fund. Because a large number of capital of the enterprise belong to property of short-term circulating fund, add ceasing is the financial interest expense that can add a company, raise operation cost, but to car company, the car product price fall that place of more aggravate of competition of the market after because produce can fast dilate and sale site roll out,still coming from cause pressure brings about profit margin to drop then. Of a batch of enterprises that can't bear heavy burden and agency close down be like inevitable.

2 it is car product sale need takes up in great quantities circulating fund, especially the car consumes loan. Although pass loan to buy the scale of the car to take all car only,sell proportional 10%-15% at present, but the breed of the 2nd great consumer credit after individual car consumes loan to had become afterwards estate credit, up to car of the accumulative total end September 2004 consumptive loan remaining sum makes an appointment with 220 billion yuan, the scale that takes loan of total spending sex is about 10% , the fixed number of years that its borrow money is the longest for 5 years. Calculate through the analysis knowable, add the 3-5 after breath year period the interest expenses that the car borrows money increases extent to all do not exceed 5% .
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