GAC GROUP(SH:601238) Zheng Quan Shi Bao·2025-07-03 01:55Core Viewpoint - The automotive industry is experiencing significant pressure, prompting calls for manufacturers to optimize rebate policies and shorten the rebate payment period to alleviate financial strain on dealers [1][2]. Group 1: Rebate Policy Issues - The All-China Federation of Industry and Commerce Automotive Dealers Chamber has highlighted the importance of timely rebate payments from manufacturers to dealers, which is crucial for improving dealers' financial conditions [1]. - A survey of 42 automotive brands revealed multiple issues with rebate structures, including complexity, significant differences in payment periods among brands, and restrictions on the use of rebates [1][2]. Group 2: Dealer Financial Strain - A report from the China Automobile Circulation Association indicates that 84.4% of automotive dealers are experiencing varying degrees of price inversion, with 60.4% facing price inversions exceeding 15%, severely impacting their liquidity [2]. - The automotive dealership sector is capital-intensive, requiring substantial upfront payments to manufacturers, and delays in rebate payments can exacerbate financial pressures on dealers [2]. Group 3: Industry Response - In response to these challenges, several manufacturers, including GAC Group, BMW, and SAIC General Motors, have committed to ensuring rebate payments are completed within 60 days, marking a positive shift in the industry [2].