AutoBeta(AutoBeta.net)05/06 Report--

After months of shock from the COVID-19 epidemic, China's auto market has finally rebounded steadily under the control of the epidemic, as well as according to the latest sales figures released by a number of car companies recently. Among them, models as luxury brands performed more strongly, with year-on-year growth from the announced Lexus, Cadillac and Volvo brands.

Although BBA brand and other first-tier luxury brands have not yet released the latest sales figures, it is believed that the performance of first-tier luxury brands must be better than that of second-tier luxury brands in the current rebounding market, which is, after all, the same law in the domestic market. According to the latest sales figures for second-tier luxury brands in April, Lexus ranked first on the second-tier luxury list with sales of more than 20,000 units, followed by Cadillac and Volvo.

Specifically, in April this year, Lexus brand sold a total of 23150 units in China, an increase of 6% over the same period last year. Although the growth rate is small, it is also better than the market performance without the impact of the epidemic in the same period last year, which means that Lexus has gradually achieved a rebound in performance. Among them, the sales of smart hybrid models was 8238, accounting for 35.6% of the month's sales, the proportion has also been improved to a certain extent.

At the end of April, Lexus also brought a new all-electric UX 300e, which is fully electric with a battery life of 400km, priced between 362000 and 385000 yuan.

Judging from the performance of Lexus in the first quarter of this year, a total of 33000 units were sold, down 12.7% from the same period last year, which also shows that Lexus has not been greatly affected by the severe decline in the overall market in the first quarter of this year. At the same time, it also benefited from Lexus's unprecedented "no price increase" measure to promote sales growth.

The Cadillac brand, in second place, seems to have been lagged behind by Lexus since 2020. Although Lexus has not released monthly sales figures, it has significantly outperformed Cadillac's 27600 vehicles in the first quarter, down 37.1% from a year earlier.

Cadillac did grow 14.4% year-on-year until April, but its April sales were only 16273, also well below Lexus's 23000, so overall sales this month were relatively low.

From the perspective of specific models, neither of its best-selling SUV models, XT5 and XT4, have achieved monthly sales of more than 10,000 vehicles, with monthly sales of 5582 and 4738 respectively. As the SUV formation accounted for more than 70% of the Prida Cadillac in April, it means that although the current Cadillac sedan formation has achieved the complete layout of the new model, it has not achieved a strong market performance. Perhaps the current terminal offers of CT5 and CT4 models still fail to meet the wishes of consumers, so that consumers still have a lot of wait-and-see mood.

As for the Volvo brand, its performance was relatively stable in April, with a sharp increase in sales in the same month through the "price for volume" model. 14724 cars were sold in China in April, up 20.8 per cent from the same period last year. It has become the only region under the brand to achieve growth, and it also accounts for 50 per cent of the global market.

In terms of specific models, the best-selling model is still its SUV model, in which XC60 has the highest sales, while there is not much difference between the compact XC40 and the medium and large SUV. In terms of cars, the S90 is still the highest-selling model, but all models have declined except for the medium-sized S60, which is also due to the impact of the epidemic in many other markets of Volvo. Second, the S60, as the latest model, has reached a certain level of sales.

On the whole, the epidemic has led to a decline in sales of many brands in the first quarter of this year, which is inevitable, but as the epidemic is gradually brought under control, the domestic car market has obviously rebounded. Among them, luxury brands with higher exchange sentiment can achieve the earliest rebound. Of course, this does not rule out the fact that luxury brands are promoting sales due to the expansion of profits under the epidemic. At the same time, with the obvious recovery of the market, the trend of luxury brands may continue to be strong.

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