GAC GROUP(SH:601238) Zheng Quan Shi Bao·2025-06-23 15:11Core Viewpoint - The automotive industry is facing significant pressure, prompting dealers to call for optimized rebate policies and shorter rebate payment periods from manufacturers [1][2]. Group 1: Dealer Challenges - Automotive dealers are experiencing substantial operational pressure, with a report indicating that while many dealers are meeting their sales targets for 2024, losses in new car business are still affecting their survival [1][5]. - A survey by the China Automobile Dealers Association revealed that 84.4% of dealers are facing price inversion issues, with 60.4% experiencing price inversions exceeding 15% [4][5]. Group 2: Rebate Issues - The China Automobile Dealers Association highlighted multiple issues with the rebate policies from manufacturers, including complex rebate structures and significant differences in payment timelines among brands [2][3]. - The survey found that 17 brands have a fixed rebate payment period of no more than 30 days, while some brands have payment periods extending up to 180 days [3]. - The association called for clearer rebate policies, shorter payment periods, and fewer restrictions on rebate usage [3]. Group 3: Manufacturer Responses - Several manufacturers, including GAC Group and BMW, have committed to ensuring rebate payments to dealers within 60 days, responding to the financial pressures faced by dealers [4]. - The proactive measures taken by manufacturers, such as issuing price discounts and lowering sales targets, have led to an increase in dealer satisfaction despite ongoing challenges [5].