Research on the Impact of Fiscal Subsidies on BYD's Sale of New Energy Vehicles - Take Shanghai as An Example

Abstract

Background and Aim: The new energy vehicle industry is an important way for China to realize economic transformation and industrial upgrading, and is a strategic measure to promote China's passenger car industry from big to strong. At present, the problem of China's automobile industry being large but not strong is more prominent. How to promote the development of China's new energy automobile industry is of great significance to the curve overtaking. This paper on Shanghai BYD new energy vehicle sales as the research object, analyzes the influence factors of BYD new energy vehicle sales, at the same time, the analysis analyzes the fiscal policy of Shanghai BYD new can use car sales, under this research purpose, this paper needs to complete the following research tasks.

Materials and Methods: First, analyze the relevant data and problems of BYD's new energy vehicles, and collect relevant data to lay the data foundation for empirical analysis. Second, for the experimental group in Shanghai, Beijing as the control group, using the double difference DID analysis model to study the influence of fiscal subsidies on BYD new energy vehicle sales, chose Beijing as the control group, on the one hand, are Beijing and Shanghai in GDP, population base, per capita income level, at the same time, to the Shanghai subsidies for new energy vehicles for pilot areas, Beijing has not yet implemented the corresponding fiscal subsidy policy, thus makes Beijing suitable as a control group of this research. Thirdly, according to the conclusion of the empirical research, put forward corresponding optimization suggestions from the perspective of the government. A quantitative approach was adopted to test the hypothesis. The research showed that the financial subsidy policy has a positive impact on the sales of BYD new energy vehicles.

Results: New energy vehicles are still in the initial stage of promotion. In the process of promotion of new energy vehicles, the government has given corresponding preferential policies. The summarized as fiscal subsidies policy TuiPo influences new energy vehicle sales, infrastructure construction, and subsidy form. The subsidies of BYD new energy vehicles sales of the double difference DID analysis.

Conclusion: The financial subsidy policy has a positive impact on the sales of BYD new energy vehicles, that is, the financial subsidy policy plays a role in promoting the sales of BYD new energy vehicles. From the above research conclusions, financial subsidies have played a positive role in promoting the sales of BYD's new energy vehicles.