·SINOMAC announced the annual report of the imported automobile market in 2014

On November 29th, at the "11th China Imported Cars High-Level Forum" hosted by China National Machinery Industry Corporation, China Automobile Circulation Association, China National Automobile Co., Ltd. and China Import Automobile Trading Co., Ltd., SINOMACH Automobile and Zhongjin Automobile Trade released the “2014 China Imported Automobile Market Annual Report” and “2015 China Imported Automobile Market Operation Strategy Report”.
The report believes that China's imported auto market has been issuing market risk warnings since 2012. The oversupply of imported autos has become the new normal. The status of multinational auto companies leading the imported auto market is further strengthened. The high inventory of the industry and the dealers choose to exchange prices. The preferential price of imported cars remained at a high level.
In combination with China's macroeconomic situation and the changing environment of industry policies, 2015 may be a crucial period for the establishment of a new pattern in the automotive market in the next decade. New policies, new technologies and new models will accelerate the diversification of the automobile circulation model; the imported automobile market The growth rate will continue to fall, and the total demand for the whole year is expected to increase by about 10%. If the domestically produced models in the imported car market are released earlier than expected, the first single digit growth in the past five years may occur.
The report suggests that China's imported auto industry faces new changes and developments. Facing the challenges of the new normal, new policies and new models, it cannot continue the previous single pursuit of high growth. It requires new ideas and promotion strategies and requires deep understanding. In order to grasp the policy, it is necessary to re-examine and adjust their respective strategies to adapt to the adjustment of industry policies and to meet the changes in the automobile market. In the face of complete market competition, it is necessary to further cultivate the brand authorization marketing system and enhance market competitiveness. In particular, some multinational auto companies should attach great importance to the over-network coverage in some regions, high inventory of all models, declining profitability, and the tension between upstream and downstream channels of channel dealers have reached critical points, actively balancing the relationship between manufacturers and jointly creating A good imported car ecosystem, and seek to work with brand authorized dealers to create a sustainable development path under the new pattern of the imported car market.
In 2014, high supply, high inventory, and dealers exchanged prices
Affected by many factors such as China's economic adjustment, policy orientation, the introduction of multi-local purchase restriction policies and the acceleration of China's auto market consumption upgrade trend, combined with the low base and dealers in the same period of 2013 to ease the inventory "price-for-price" market Behavior, sales of 980,000 units in January-September 2014, an increase of 20%, showing an unexpected increase. However, from the perspective of the quarterly trend, the growth rate of the second quarter and the third quarter showed a downward trend, and the market gradually returned to rationality. The A-class car is the market segment with the most important contribution to market growth, with a share of 33.3%. According to the data, as the consumption trend of China's auto market accelerates, the market share of A-class cars in the imported car market has increased year by year since 2012.
From the perspective of supply, the imported automobile market in 2014 continued the sharp rebound in market supply in the fourth quarter of 2013. From January to September, the cumulative import volume reached 1.053 million units, an increase of 26.2% year-on-year, and the monthly average import volume exceeded 110,000 units. The data shows that the year-on-year growth rate of imports from January to September was 6.2 percentage points higher than that of imported cars on the same period last year.
Since 2012, due to the high sales target of multinational auto companies in accordance with inertia, the market supply has experienced a “structural” excess, and has formed a bad situation in the high inventory of the industry in 2012 and 2013. With the gradual recovery of retail terminals, the depth of the imported car industry inventories was 3.05 months in June 2014; the situation has deteriorated since July, significantly exceeding the same period last year, close to the peak inventory in 2012; September dealers The inventory depth is at the level of 2.2 months, and the inventory pressure is still large.
From the price point of view, since the second half of 2013, with the gradual increase of market supply, especially the structural replenishment of industry inventories, the preferential rate of the terminal market continued to rise, and the preferential price of imported cars remained at a high level in 2014. Although the imported auto market showed more-than-expected demand growth in the first half of 2014, the market concession was still relatively large. The average concession in September climbed to 54,000 yuan, with a preferential margin of -8.2%, an increase of 1.4 percentage points from the previous month. 12.9%; some hot-selling models quickly appeared price concessions after experiencing a few months of mark-up sales, showing that with the retreat of new product effects and the increase in inventory brought by high supply, the sales pressure in the terminal market has gradually increased.
The market is still in a structural adjustment period
In 2014, China's imported auto market still showed structural adjustment characteristics, showing a pattern of further deepening adjustment in terms of brands, models, displacements and channels.
From the perspective of brand structure, the competitive landscape has changed, and the market share of American brands has increased significantly. From the perspective of country-specific brands, the European brand accounted for the largest share of the imported car market, but its share fell by 5.4 percentage points to 58.2%; the US brand share increased by 4.1 percentage points from 2013 to 16.7%, including Jeep and Cadillac. The continued hot sales of SUVs such as Ford are the main factors; the Japanese brand share has recovered slightly, and Infiniti, Acura and Lexus have grown to varying degrees. From the perspective of the growth rate of imports, Jeep, Mercedes-Benz, Land Rover, Toyota, and Subaru are growing rapidly.
From the perspective of vehicle structure, the market share of passenger vehicles is stable. From January to September 2014, the market share was 99.1%, an increase of 0.2 percentage points over 2013. SUV is still the absolute main model in the imported car market. In the first nine months of 2014, it imported 655,000 vehicles, a year-on-year increase of 29.3%, and the market share has remained above 60%. At the same time, the import volume of cars and MPVs also showed a medium-speed growth, with year-on-year growth of 22.8% and 17.5% respectively.
From the perspective of the displacement structure, the structure of the imported car continues to tilt toward a small displacement. Under the guidance of relevant national policies, under the guidance of relevant national policies, from January to September 2014, displacement models below 3.0L accounted for 91.6% of the total imported automobile market share, 2.3 percentage points higher than the 89.3% for the full year of 2013; The share of displacement models above 3.0L continued to decline, indicating that the downward trend of the displacement of imported cars was more obvious; the 1.5-2.0L displacement range became the first largest displacement range.
From the channel structure, the central and western markets maintained rapid growth, and the imported automobile market continued to develop in the central, southwestern and northwestern regions. From January to September 2014, the three regions accounted for 44.7% of the total imported car sales. The traditional market share in the eastern and northern regions continues to shrink. Among the major provinces and cities in the country, the highest growth rates are Chongqing, Henan, Sichuan, Xinjiang, Guangdong and Guizhou. Due to the restrictions on purchase restrictions, Tianjin 1-9 shares fell 22.5% year-on-year; Inner Mongolia fell 3.2.
Estimated sales growth of 10% in 2015
In 2015, the new normal, new policies and new models will accelerate the diversification of the automobile circulation model. In terms of the new normal of China's economy, China's economy is still in the stage of “three-phase superposition” in which deep-seated contradictions are prominent and the economic growth rate shift period, structural adjustment pain period, and early stimulus policy digestive period. Under the new normal of economic operation, the state adheres to the general tone of steady progress, vigorously promotes reform, vigorously adjusts the structure, strives to benefit the people's livelihood, maintains stable economic operation, and improves the quality of economic growth. In terms of new policies in the automotive market, national industry policies and guidance have always guided the development of the automotive industry. After ten years of operation, the relevant departments have jointly issued a number of China's auto industry policies in 2014 in light of new developments in the industry. In 2015, a series of intricate policies will be introduced, and 2015 will be a new round of policy adjustment. The "first year" of the development of the automobile industry will be a crucial period for the new pattern of the automobile market and the reconstruction of new market rules in the next decade. In the new model of innovation market, the automobile industry has reached a critical period of transformation and upgrading. The adjustment of a series of industry policies will accelerate the diversified development of the automobile circulation industry. However, the interaction between technological innovation and market demand is the real promotion of imported automobiles. The source of market development. With the deepening reform of the auto industry, the deep adjustment of the auto market, the full market competition of multiple formats, the challenge of diversified sales and service models, facing new changes and developments, and facing more complex environments and competition, we not only While continuing to innovate existing brand licenses and future unlicensed business models, we are still thinking about and exploring new model innovations brought about by technological changes in the Internet and mobile Internet.
According to the report, under the new situation of China's imported auto market in 2015, the growth rate of the imported auto market will continue to fall, and the total demand for the whole year is expected to increase by about 10%. If the domestically produced models in the imported car market are released earlier than expected, the first single digit growth in the past five years may occur. From the perspective of the domestic car market, China's automobile industry, as one of the pillar industries of the national economy, has experienced a rapid growth rate of 25% per annum during the period 2000-2010. It has gradually entered a period of steady growth since 2011, and is expected to increase in the future. The speed is 8-10%, and its main driving factors are the new demand in the third-fourth-line region and the demand for redemption in the first- and second-tier regions. It is estimated that the domestic automobile market will grow by 7%-8% in 2015, and the passenger vehicle market will grow by about 10%. From the perspective of new product supply, in the fourth quarter of 2014 and 2015, there will be more than 60 imported new cars entering the Chinese market, with cars accounting for 70%. The introduction of compact SUVs, high performance and coupe will continue to accelerate; The domestic production of imported products will continue to weaken.
The report suggests that China's imported auto industry faces new changes and developments. Facing the challenges of the new normal, new policies and new models, it cannot continue the previous single pursuit of high growth. It requires new ideas and promotion strategies and requires deep understanding. In order to grasp the policy, it is necessary to re-examine and adjust their respective strategies to adapt to the adjustment of industry policies and to meet the changes in the automobile market. In the face of complete market competition, it is necessary to further cultivate the brand authorization marketing system and enhance market competitiveness. In particular, some multinational auto companies should attach great importance to the over-network coverage in some regions, high inventory of all models, declining profitability, and the tension between upstream and downstream channels of channel dealers have reached critical points, actively balancing the relationship between manufacturers and jointly creating A good imported car ecosystem, and seek to work with brand authorized dealers to create a sustainable development path under the new pattern of the imported car market.

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