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The coefficient of auto zero to whole ratio rises, and the rising trend of parts price is obvious

On June 2, China Insurance Research Institute of Automotive Technology (hereinafter referred to as China Insurance Research Institute) released a new phase of auto zero to integer ratio research results, disclosing the auto zero to integer ratio series index of 100 models.

According to the definition given by China Insurance Research Institute, auto zero to integer ratio coefficient refers to the ratio of the total price of vehicle parts to the sales price of the whole vehicle. According to China Insurance Research Group, the auto zero to whole ratio comprehensively reflects the changes of consumers' automobile cost burden and auto insurance compensation cost. In short, it is the total amount of all parts of a car calculated according to the original price, which can buy the same model of the whole car. This means that the higher the coefficient of zero to whole ratio, the higher the cost of replacing or repairing parts.

According to the latest data of China Insurance Research, the "auto zero to whole ratio 100 index" and "common parts burden 100 index" increased significantly, with 350.93% and 17.31% respectively, increasing by 13.96% and 1.15% respectively compared with the previous period. Among them, the 2017 Beijing Benz C-class car with the highest zero to integer ratio coefficient was 823.59%. The data shows that if a 2017 Beijing Benz C-class is disassembled, the total original price of all parts can buy 8 complete vehicles of the same model.

Among the 18 common accessories that SINOSURE focuses on, the average price of 17 accessories is higher than the level in March 2019, and the price of 71 accessories has increased. Specifically, the front door shell, front fender and rear door shell are the top parts; Among the single parts, the zero to whole ratio of the headlamp of the 2020 FAW Audi q5l is 10.56%. In addition, the vehicle zero to whole ratio coefficient, common parts burden index, single piece zero to whole ratio of front bumper skin, and single piece zero to whole ratio of front headlight of 300000-500000 yuan models are the highest.

In the view of industry insiders, the rise of auto zero to integer ratio reflects the current strong production demand of automobile enterprises and the increase of single vehicle production cost. At present, the prices of automobile plastic parts, steel structure parts, tires and other parts have generally increased, and the prices of various metals needed for body manufacturing have also continued to strengthen.

With the rise of both quantity and price, the listed companies of auto parts will hand over their brilliant report cards in the first quarter. In the first quarter of this year, 24 listed companies of major auto parts achieved double growth in revenue and net profit. The net profit attributable to parent companies such as Huayu automobile and Junsheng electronics increased by more than 10% year-on-year.

It is worth noting that while the production cost of single vehicle is increasing, the competition in the automobile terminal sales market is intensifying. According to the data of the passenger car Association, the inventory early warning index of auto dealers in May was 52.9%, down 1.3 percentage points year-on-year and 3.5 percentage points month on month respectively. The Federation said that the automobile market was relatively stable in May and has not yet reached the expected situation. The reason is that the shortage of chips leads to the production reduction of auto enterprises, the supply of some hot models is tight, the sales volume is unstable due to the extension of vehicle delivery cycle, the dealers' funds are trapped in the vehicles on the way, the turnover is tight, the raw materials rise, the manufacturers' promotion policies are tightened, and the business pressure of the dealers is increased. With the auto market entering the traditional off-season in June, this situation may continue.

Post time: Jul-18-2021