Recently, the National Development and Reform Commission imposed a penalty of 8.3196 billion yuan on the price monopoly of eight parts and components enterprises such as Sumitomo, and imposed a penalty of 403.44 million yuan on the price monopoly of four bearing companies such as Seiko, with a total fine of 1,235.4 million yuan. With the release of anti-monopoly sky-high price tickets, mainstream market organizations have agreed that anti-monopoly investigations on luxury car sales and maintenance will be further advanced, and the follow-up will have far-reaching impact on the automotive industry. Analysts pointed out that this "high price" ticket will not immediately change the model of automobile brand sales. In the short term, it will lower the price of parts and components and compress the profit margin of parts companies in the short term; but in the medium and long term, domestic The gradual liberalization of the after-sales system of parts and components will be a major attraction of the industry. This objectively constitutes a mid-term positive for the powerful domestic component manufacturers.
Anti-monopoly investigation in-depth NDRC open price ticket August can be described as the eventful autumn of the auto industry, since the SND announced the anti-monopoly investigation of the auto industry, the industry has been turbulent. First, OEMs Jaguar and Land Rover announced that they will lower the price of some models. Later, Audi, Mercedes-Benz, BMW, Guangqi Honda and GAC Toyota (Weibo) also announced the price cuts.
The latest work dynamics posted by the National Development and Reform Commission website yesterday showed that the National Development and Reform Commission recently imposed a penalty of 8.3196 billion yuan on the price monopoly of eight parts companies such as Sumitomo, and imposed a penalty of 4.0344 billion yuan on the price monopoly of four bearing companies such as Seiko. The total fine was 1,235.4 million yuan.
It has been verified that from January 2000 to February 2010, eight Japanese auto parts manufacturers, including Hitachi, Denso, Aisan, Mitsubishi Electric, Sanye, Yazaki, Furukawa and Sumitomo, are the most beneficial to reduce competition. The price is subject to the automaker's parts order, frequent bilateral or multilateral talks in Japan, mutual negotiation of prices, and multiple orders quotation agreements are reached and implemented. The price negotiation involves 13 products of the Chinese market and orders, including starter, alternator, throttle body, and wire harness. The price-negotiated parts are used in more than 20 models of Honda, Toyota, Nissan, Suzuki, Ford and other brands. As of the end of 2013, most of the orders related to the Chinese market obtained by the parties after price negotiation are still being supplied.
From 2000 to June 2011, four bearing manufacturers, including Fujitsu, Seiko, JTEKT and NTN, organized an Asian research conference in Japan to organize an export market conference in Shanghai to discuss bearings in the Asian region and the Chinese market. The price increase policy, the timing and the price increase, and the implementation of the price increase. When the parties sell bearings in China, they implement price increases based on the prices negotiated by the Asian Research Association and the export market or exchanged price increases.
The National Development and Reform Commission pointed out that eight auto parts companies and four bearing enterprises were suspected of reaching and implementing a price monopoly agreement on auto parts and bearings, violating the provisions of China's Anti-Monopoly Law, excluding and restricting market competition and improper influence. The price of China's auto parts, complete vehicles and bearings has damaged the legitimate rights and interests of downstream manufacturers and the interests of Chinese consumers. In both cases, the parties reached and implemented a price monopoly agreement several times. The illegal act lasted for more than 10 years, and the illegal circumstances were serious. The National Development and Reform Commission imposed heavy punishment according to law, and applied anti-monopoly to relevant parties who actively provided important evidence. The Act reduces or exempts the terms of the penalty.
The parts industry or the current change bureau It should be said that the sky-high price ticket issued by the National Development and Reform Commission indicates that the decision-making layer is determined to break the monopoly pattern of the automobile industry. It is expected that the follow-up investigation on the anti-monopoly of the automobile industry will further deepen. As far as the impact is concerned, the impact of the anti-monopoly investigation on the vehicle level will not be too great. After all, suppressing the price of the mainstream model of the joint venture car enterprise will also exert greater pressure on domestic independent brands; however, it will be on the auto parts industry. The impact can be described as far-reaching.
Undoubtedly, the focus of the auto industry's anti-monopoly is on spare parts, with the focus on abnormally high spare parts prices. Generally speaking, the foreign zero ratio (that is, the ratio of the price of the specific model parts to the total vehicle sales price) does not exceed 300%, while the domestic zero ratio is usually more than 400%. The reason for this monopoly is that the "Automobile Brand Sales Management Implementation Measures" gives the OEMs a strong voice. According to the "Measures", dealers need to obtain the authorization of the automobile manufacturer before they can register with the industrial and commercial department to obtain business qualifications, and stipulate that the intellectual property rights of the components designed by the supplier belong to the whole vehicle manufacturer. This means that the parts of the 4S shop must be obtained from the manufacturer, and the pricing rights of the parts are returned to the manufacturer. In order to make up for a series of expenses for after-sales service, OEMs generally have a certain degree of price increase, which objectively leads to high prices of spare parts.
Capital Securities believes that short-term industry anti-monopoly does not change the model of automobile brand sales, but only to a certain extent lower the price of parts and components, thus directly affecting the profitability of the parts industry. However, in the medium and long term, the gradual liberalization of the domestic after-sales after-sales system is a highlight of the parts and components industry, and it is good for the powerful domestic component manufacturers.
In addition, Changjiang Securities also believes that anti-monopoly will have a profound impact on the automotive industry, mainly in the following points: First, price anti-monopoly will promote the sinking of the overall price system of the automobile industry, and the overall profit margin of vehicle manufacturers will be under pressure; Second, the downstream dealers' industrial chain status has been relatively improved, and bargaining power has increased. However, it is still too early to completely get rid of the constraints of OEMs. Third, the after-sales service market faces significant opportunities. With the deepening of anti-monopoly, after-sales service In particular, the independent third-party after-service market will gain room for growth.

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