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落实车企账期承诺还需突破多个难点
证券时报·2025-09-06 01:10

Core Viewpoint - The commitment of car manufacturers to shorten payment terms is aimed at alleviating pressure on the supply chain and promoting a healthier industry ecosystem [3][10]. Group 1: Payment Term Commitments - 17 car manufacturers have made commitments to a 60-day payment term to ease supply chain pressures and counteract "involution" in the industry [3][10]. - Some manufacturers, like Chery, have successfully reduced their average payment period to 47 days, but many others still face challenges in implementing these commitments [1][3]. - The average payment cycle for many suppliers is around 9 months, with some manufacturers delaying payments until parts are installed and sold [3][4]. Group 2: Challenges in Payment Processes - The lack of standardized acceptance criteria and varying project review processes among manufacturers complicates timely payments [4][10]. - Some manufacturers extend payment periods through the use of commercial bills, which can lead to longer cash flow cycles for suppliers [4][10]. - Suppliers often lack bargaining power, leading to conflicts between maintaining customer relationships and securing timely payments [5][6]. Group 3: Industry Dynamics and Recommendations - The automotive industry is experiencing increased competition and price pressures, with many suppliers forced to accept lower prices and longer payment terms [6][7]. - Experts suggest that government intervention, such as linking subsidy policies to adherence to payment terms, could incentivize manufacturers to comply [12]. - Strengthening oversight of payment cycles and establishing a breach compensation mechanism are recommended to ensure manufacturers fulfill their commitments [10][12]. Group 4: Market Conditions and Future Outlook - The automotive industry is facing overcapacity issues, which contribute to the current competitive pressures [13]. - Experts believe that addressing payment term challenges, optimizing capacity, and regulating competition will help the industry transition to a more efficient and resilient phase [13].