Research On Financial Decision-making Of Passenger Car Enterprises Based On The CAFC And Nev Credit Policy Based On Management Accounting

Energy conservation and environmental protection and low carbon emission reduction have long been a global consensus.The automobile industry,which is the backbone of the national economy,has become the key target for implementing energy conservation and emission reduction.In order to implement energy conservation and environmental protection and ensure the sustainable development of the automotive industry,the Chinese government has made reference to the fuel consumption regulations of passenger vehicles and the management policies of new energy vehicles in developed countries in Europe and America.Finally,the CAFC and NEV credit policy is formulated.The CAFC and NEV credit policy has been officially implemented on April 1,2018.Passenger car companies not only have to meet the CFAC standards,but also must complete certain NEV integral ratio requirements,which will inevitably force these companies to accelerate the transition to the new energy vehicle market.On the other hand,due to the constraints of battery cost and ease of use,it is obvious that new energy vehicles cannot completely replace traditional fuel vehicles in the short term.Therefore,how to make joint decision between traditional fuel vehicles and new energy vehicles under the CAFC and NEV Credit Policy will become a new challenge and problem for passenger car companies.First of all,this paper uses the literature research method to expound the theoretical basis of CVP analysis,introduces requirements of the CAFC and NEV Credit Policy and analyzes the industrial environment of automobiles and passenger cars.Secondly,this paper combines the basic model of the CVP analysis and the evaluation formula of the CAFC and NEV Credit Policy,and obtains six possible models.Then,a case study of G Group Company is carried out,and the existing relevant data is used to compare and analyze the profit situation under the policy constraint situation or without policy constraints.Through research,we found that the CAFC and NEV Credit Policy assessment reduced the profit of G Group Company,but the reduction is not large.Next,this paper uses the quantitative and profit model under uses the CAFC and NEV Credit policy to compare and analyze the G Group Company’s break-even point,safety margin,and profit sensitivity coefficient with policy constraint situation and the non-policy constraint.Through research we found that:(1)the CAFC and NEV Credit policy directly increases the break-even point of G Group’s fuel vehicles and new energy vehicles.(2)Regardless of the double-point policy,G Group’s margin of safety is higher than 80%,which is a high-security range.(3)In terms of profit sensitivity coefficient,the indicators related to fuel vehicles are significantly larger than the indicators related to the double-points policy than those related to new energy vehicles.Finally,combined with the calculation and analysis results of the previous paper,the steps and methods for optimizing the financial decision of the passenger car enterprises under the CAFC and NEV Credit policy are measured and used again in the G Group.The results prove that this kind of financial decision-making optimization can effectively improve the profit level of G Group Company,and make full use of the company’s own resources to seek better development while meeting the policy requirements.