In July, the retail a volume of the new energy vehicle market reached 878000, which not only marked a major leap in the new energy vehicle market, but also surpassed the sales of conventional fuel passenger cars for the first time.
The domestic retail penetration rate of new energy vehicles is as high as 51.
1%, which is a milestone achievement and demonstrates the vitality and great potential of China’s new energy vehicle market.
The achievement of this achievement undoubtedly makes China’s automobile industry feel very excited.
Many years ago, China formulated a strategic plan to rely on new energy vehicles to achieve “corner overtaking”.
Now, this plan is gradually showing its great power and effectiveness.
China not only occupies a pivotal position in the global new energy vehicle market, but also successfully ascends the global green and low-carbon travel position.
Behind this brilliant achievement, the contribution of Chinese automobile brands plays an important role.
With their innovative technology, improving product quality and better market layout, they have successfully won the favor of consumers and market recognition.
It is the rise and strength of these Chinese automobile brands that have added more strength and strength to the competition of China’s automobile industry on the global stage.
Since last year, China’s automobile industry has become increasingly sophisticated with visible strength and speed, showing strong market competitiveness and innovation ability.
Especially in the first half of this year, the market share of independent brands reached 61.9%. This figure not only shows the rise of independent brands, but also reflects the growing recognition and trust of consumers.
Correspondingly, the market share of joint venture brands continues to decline, facing unprecedented challenges.
Even in the luxury car market, it has been hit by a large number of new energy car companies, and these foreign luxury brands are also facing a lot of pressure.
Therefore, in the market public opinion, there are many voices about the failure of joint venture brands and the continuous decline of luxury brands such as BBA.
In the first half of 2024, who will be the biggest mocking object in China’s auto market? Porsche, no doubt.
This year, Porsche has encountered unprecedented challenges in the Chinese auto market, especially the decline in sales and the release of earnings data.
Judging from the sales figures, Porsche’s performance is not entirely satisfactory.
Cumulative global sales fell 7 per cent in the first half of the year compared with the same period last year, while in the Chinese market, the decline was as high as 33 per cent.
Such a decline in sales has not only significantly reduced Porsche’s market share in China, but also deprived it of its position as the world’s largest single market.
With this change, Porsche’s competitiveness in the Chinese market has undoubtedly been seriously questioned.
However, Porsche’s slowness in the transformation of new energy is also an important reason for its ridicule.
Despite the growing market for new energy vehicles, Porsche’s new energy product line is relatively weak, and its only pure electric sports car, the Taycan, has been on the market for nearly five years.
The technological backwardness or the market heat continues to decline, which makes Taycan look uncompetitive in the Chinese market.
Consumers do not pay, which also puts Porsche dealers under tremendous sales pressure.
This has led to the intensification of conflicts between Porsche and its dealers and further aggravated its plight in China.
Due to the poor sales of pure electric models, dealers are facing the dilemma of selling cars at a loss.
However, Porsche still adopts the strategy of holding down the library, which intensifies the contradiction between the two sides.
Several Porsche dealers even protested collectively, refusing to accept Porsche’s inventory crackdown and demanding the replacement of senior executives and subsidies.
On the other hand, with the rapid rise of Chinese car brands, they have gradually split up a lot of cake in the field of new energy vehicles, which has seriously challenged the monopoly position of Porsche and other brands in the high-end car market.
In particular, some car companies launch models that are comparable to the power of Taycan products, which makes everyone feel excited.
By the same token, Audi Mercedes-Benz and BMW have a similar experience.
But are Porsche and BBA really so vulnerable in the Chinese car market? We also need to look at several data, one is sales, the other is profit.
Profits carry more weight than sales.
In the first half of 2024, Audi Group had revenue of 30.
939 billion euros (242.
2 billion yuan) and a net profit of 1.
982 billion euros (15.
5 billion yuan).
Audi sold 322000 vehicles in China, down 2 percent from a year earlier.
Mercedes-Benz Group had revenue of 75.
757 billion euros and net profit of 7.
652 billion euros.
Mercedes-Benz sold 341500 vehicles in China, down 9 percent from a year earlier.
BMW Group had revenue of 74.
072 billion euros and net profit of 6.
62 billion euros.
BMW sold 375900 vehicles in China, down 4.
2% from a year earlier.
(due to the different caliber of statistics, the above data are slightly different.
) as a comparison, BYD was the only one of Chinese auto companies whose profits exceeded 30 billion yuan in 2023, while only a few companies such as SAIC, Chang’an Automobile and ideal Automobile broke 10 billion yuan.
In other words, before Chinese car companies become real global car companies, Chinese car companies still have a long way to go in the face of the high profits of BBA brands.
Especially today, China’s automobile market is in a large-scale price war, fuel vehicle sales are low but making money, and the overall penetration of new energy vehicles is rising but losing money, and so on.
In addition to the influential new energy vehicle companies that can maintain sales growth, both large independent automobile groups and single car brands will have to face a more severe competitive environment in the future.
Therefore, with high profits as a solid backing, BBA dares to shout the slogan of “withdraw from the price war” in the Chinese automobile market.
As the representative of luxury car brands, BBA has a broad consumer base and a high degree of brand recognition in China, which gives them some flexibility and say in pricing.
Even facing the challenges of sales and profits, they can still rely on high profit reserves to maintain their market position and brand image to cope with the increasingly fierce market competition.
Of course, more importantly, BBA has a respite to seek a more sustainable development path by adjusting market strategy, accelerating technological innovation and meeting consumer demand.
It is a good thing to be full of hope, of course, every Chinese has a deep expectation that Chinese car brands can soar like vigorous eagles to catch up with foreign brands that were once out of reach.
This expectation is not only the expectation of the automobile industry, but also the embodiment of national pride and made in China.
A firm belief in the rise.
We have a dream that one day when the world mentions cars, it will no longer be just those familiar foreign names, but more Chinese car brands will shine among them.
We are eager to see that Chinese cars, with their excellent quality, innovative design and extraordinary performance, gallop on every road in the world and become the pride of the world.
Behind this dream of catching up is the hard work of countless Chinese automotive engineers, designers and workers, their round-the-clock efforts and the ultimate pursuit of every detail.
With their own sweat and wisdom, they have forged the brilliant future of Chinese automobile brands.
However, if you take a cool look at the current Chinese car brands, they still have a long way to go.
According to the data, the top 10 car companies in retail sales from January to June in 2024 are BYD, FAW-Volkswagen, Geely Motor, Changan Automobile, SAIC Volkswagen, Chery Automobile, Guangzhou Automobile Toyota, FAW Toyota, Dongfeng Nissan and brilliance BMW.
Independent brands and foreign brands are 50-50.
If you add in the new energy car companies, according to this year’s development momentum, ideal car, Hongmeng Zhihang and Xiaomi Automobile are the most potential to become the top several, adding up to less than 10 car brands.
In other words, there are the vast majority of traditional car companies and new energy car companies, actually can not be on the table.
In terms of the influence of a single brand, BYD may be the only one that can be regarded as a world-class car brand.
So what are other car brands doing? I believe many people can see that car companies like New Power are far from forming economies of scale, and even ideal cars with very successful product definitions have stumbled this year.
It is still unknown when Hongmeng Zhixing and Xiaomi will break 500000 and 1 million cars.
What should be more worrying is that in the face of BYD’s success in the new energy vehicle market, domestic independent brands such as Geely, Changan, Great Wall and Chery seem to be stuck in the quagmire of internal friction and internal friction.
These brands, which once enjoyed boundless scenery in the traditional fuel vehicle market, are now facing unprecedented challenges on the road of transforming new energy sources.
The transformation of fuel vehicles to new energy vehicles is not plain sailing, technical bottlenecks, capital investment, market acceptance and other problems emerge one after another, making the layout of these brands in the field of new energy seems inadequate.
What is more serious is that the competition among automobile enterprises has gone beyond the level of products and technology and evolved into a low-level competition of mutual connotation and attack.
This non-benign competitive environment not only consumes a lot of energy and resources of enterprises, but also damages the brand image and reduces consumers’ trust in these brands.
In addition, some brands are too blind in the laying of sub-brands, without clear strategic planning and backbone.
Too many sub-brands and too many sub-brands not only disperse the resources and energy of enterprises, but also make consumers confused and confused in brand cognition.
These strategic decisions that lack determination will undoubtedly make enterprises confused in the fierce market competition, and it is difficult to form effective market competitiveness.
Therefore, for Geely, Chang’an, Great Wall, Chery and other independent brands, how to get rid of internal friction and achieve a breakthrough in the transformation of new energy has become an urgent issue in front of them.
The prosperity of domestic cars and the continuous decline of foreign brands may be welcomed.
But it may be a little impatient to make a mockery of it in market public opinion.
After all, each brand has its own unique growth trajectory and market positioning, which can not be generalized simply by labeling it.
These automobile brands have been outstanding in the automobile industry for hundreds of years, and the technological innovation, market strategy and consumer reputation behind them have been accumulated and precipitated for many years.
Mocking them is tantamount to ignoring the efforts and achievements behind these brands.
We should pay more attention to how we keep moving forward, rather than staying at the temporary frustration of our opponents.
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