In the past two years, under the stimulation of the “price war”, domestic car demand has been released continuously, passenger car sales have been increasing, and sales of luxury car segments have also risen.
According to the number of passenger cars that most directly reflect the trading volume at the end of the market, under the joint promotion of traditional luxury brands such as BMW, Mercedes-Benz, Audi, Red Flag and Lexus, and new energy high-end brands such as Tesla, ideal, Lexus and other new energy high-end brands, domestic luxury car sales (including domestic and imported) reached another record high in 2023, an increase of 19.
7% to 5.
017 million units compared with the same period last year.
This is the first time that annual sales in China’s luxury segment have crossed the threshold of 5 million vehicles and its share in the passenger car market has climbed to a new record of 22.9%. After both sales and share reached an all-time high in 2023, the luxury car market made a new breakthrough in the first quarter of this year, with year-on-year sales rising 16.
9% to 1.
206 million vehicles and market share increasing to 24.4%. This is equivalent to one out of every five passenger cars sold in China in the first quarter of this year.
It is worth mentioning that the market share of luxury cars in March even reached 26.
5%, replacing 25.
7% in the same period last year and becoming the highest in a single month in recent years.
New energy is already the main growth force luxury cars are so unstoppable mainly due to the rapid development of high-end brands of new energy.
As we all know, the sales of traditional fuel cars, which account for the vast majority of the domestic passenger car market, have declined for several years in recent years, and so have luxury cars, only slightly later than the overall car market.
Due to the late start, the number and sales of early new energy brands are relatively small, which is completely unable to compare with traditional brands such as Mercedes-Benz, BMW, Audi, which have been ploughing for many years (there are new energy models, but very few sales, mainly traditional fuel cars).
It was not until the rapid increase in the volume of Tesla, ideal, Lilly and other brands in 2021 that new energy gradually replaced traditional fuel as the main driving force for the growth of luxury cars.
With the continuous improvement of consumer recognition and the outbreak of sales of add-on models such as ideal, momentum and question in 2023, pure electric brands such as Tesla, polar krypton and Zhiji also continued to make efforts, and the new energy penetration rate of luxury cars increased to 37.4%. More than 33.
3% of the overall passenger car market.
Driven by plug-in (including add-on programs) and pure electricity, the new energy penetration rate of the luxury car market even broke the 40% threshold in the first quarter of this year, reaching 40.4%. Specifically Tesla the leader of new energy luxury cars in the first quarter sold slightly less than the same period last year.
This is because more and more competitive products are pouring into the market segment where Model 3 and Model Y are located, especially independent brands actively participate in the price war, which intensifies the market competition.
Tesla’s sales fell for two consecutive months in February and March this year.
Indeed, China’s new energy market is no longer what it was two years ago-Tesla will “shake three times” when he “roars”.
As a result, Tesla had no choice but to compromise, announcing a price cut of 14000 yuan for all his products on April 21.
I don’t know if this wave of operation will allow it to revive sales.
The sales volume is second only to Tesla’s question and ideal, which are the two major contributors to the great progress in the new energy penetration rate of the luxury car market in the first quarter, with a total increase of 108000 vehicles.
With the blessing of Huawei Smart driver, after the launch of the new model on September 12 last year, the M7 has been a great success, with monthly sales of more than 10,000 vehicles for half a year in a row.
Together with the M5 and M9, the sales volume has reached more than 20,000 since December last year.
As a result, 86000 vehicles were sold in the first quarter of this year, almost 8.
5 times that of the same period last year.
Next with the large-scale delivery of the new QQ M5 and QQ M9 the QQ should continue to provide a huge boost to the growth of the luxury car market.
, which is seen as an ideal in direct competition with the world of inquiry, there were obviously some difficulties in delivering the 2024 L7, L8 and L9 as well as the new model MEGA at the beginning of this year, but sales of the 2023 L products were still sizeable due to large discounts, so sales in the first quarter still reached 85000, up 58.
0% from the same period last year.
In addition to the above two high-end new energy brands that offered more than ten thousand new increments in the first quarter include Polar Krypton and equation Leopard.
After the mid-term modification was launched at the end of February this year, sales of polar krypton 001 increased significantly, and in January, polar krypton 007 officially began to be delivered on a large scale.
32000 polar krypton were sold in the first quarter, double that of the same period last year.
Although, at present, only Leopard 5 has a product, but relying on the advantages of price, battery life and fuel consumption, equation Leopard has a place in the hard cross-country SUV market.
BMW-Mercedes-Benz can’t sell without discounts.
As for the traditional luxury camp, although Audi, Red Flag and Lexus made joint efforts to create some new increments in the first quarter of this year, most brands were negative compared with the same period last year.
Even BMW and Mercedes-Benz of the Big three did not escape the decline, falling 5.
1% and 10.
1% respectively.
Through the study of its models it is found that the former is mainly due to the BMW 5-Series while the latter is affected by the Mercedes-Benz E-Class and the sales of both models nearly halved in the first quarter compared with the same period last year.
The Mercedes-Benz E-Class in December last year and the BMW 5-Series in January this year ushered in a new generation of models, and the launch of new cars is bound to mean preferential recycling.
Statistics show that the average transaction price of Mercedes-Benz E-Class E300L luxury model was just over 500000 yuan last year, but it soared to 610000 yuan in the first two months of this year and dropped to 560000 yuan in March, but there is still a gap of nearly 50, 000 yuan with the price of the old model.
The situation of the BMW 5-Series is more or less the same.
for example, the average transaction price of the 532Li leading model was about 440000 yuan last year.
The new model rose to about 510000 yuan in February and fell to 480000 yuan in March.
In a highly competitive environment, the reduction of terminal discounts will undoubtedly become a major disadvantage affecting trading volume.
Therefore, the recent performance of both of them is relatively poor.
Mercedes-Benz E-Class has been less than 10,000 vehicles for four consecutive months, and the BMW 5-Series has only more than 3000 vehicles in the past two months, resulting in a decrease of 21000 vehicles in the first quarter of this year compared with the same period last year.
Thus affecting the trend of the entire brand.
As of the first quarter of this year, BMW is still the champion of the domestic luxury car market, but according to the recent performance of the 5 series, if it can not recover quickly, it is very likely that BMW will be overtaken by Audi.
Audi, Red Flag and Lexus will be the lucky few in the traditional luxury camp for more or less the same reason.
Compared with the proud Mercedes-Benz and BMW Audi is very comfortable.
For example, last October, Audi A6LAfter the 2024 model went on sale, the price was soon reduced to roughly the same as the previous model, so the sales volume did not change much.
After several years of declining sales in China, Lexus, known as the “king of price increases” last year, finally stepped down and began to cut prices, so its sales in 2023 were roughly the same as in 2022.
Take the brand-new Lexus RZ, which went on sale in February last year, as an example, the maximum discount for the whole car is 60, 000 yuan in some areas, equivalent to the starting price has been reduced to 295900 yuan.
Therefore, although Lexus grew by 40.
2% in the first quarter of this year compared with the same period last year, it is more due to the low base in the same period last year, which is still at a low level compared with 50,000 or 60,000 vehicles in the same period in 2021 and 2022.
Like Lexus Red Flag grew by nearly 40% in the first quarter of this year.
In addition to offering greater discounts the launch of new models such as the H6 and HS3 last year is also an important reason.
To sum up, even Mercedes-Benz and BMW, as a luxury car giant, will not sell if the price does not meet consumers’ expectations, especially at a time when new energy products have flooded in.
If you want to sell more, you have to put yourself down.
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