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2024-09-08 Update From: AutoBeta autobeta NAV: AutoBeta > News >
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AutoBeta(AutoBeta.net)10/16 Report--
Coincides with the "Golden Nine" traditional peak season, passenger cars still maintain the growth trend in September, in which the luxury car market continues to have a stronger momentum, a number of brands have achieved a sharp rise in the same month compared with the same period last year. The luxury car market grew 33% in September from a year earlier, up 5% from July, and its market share remained at an all-time high of about 15%, according to a report by the federation of passengers.
Throughout the luxury market in September this year, only Infiniti saw a sharp decline of nearly 36%, with the exception of Volvo brands, other brands are growing at a double-digit trend, which shows that the "Golden Nine" market is working.
Judging from the newly released ranking of luxury brand sales in September, the first-tier BBA has a solid position. It is worth noting that the Mercedes-Benz brand has been the top seller in the luxury market for several months since 2020, but since August, its top selling position has been seized by BMW, and its sales have fallen behind the Audi brand in September, ranking third on the list.
Although the Mercedes-Benz brand still maintained year-on-year growth of 21.2% in September, stronger than the Audi brand, the difference in sales of nearly 5000 vehicles from the former undoubtedly reflects that Mercedes-Benz underperformed Audi and BMW in September. It is reported that this is due to the launch of the new BMW 3-Series on September 5 and the debut of the new BMW 5-Series at the Beijing Auto Show, resulting in the further opening of terminal discounts for the cash 3-Series and 5-Series. Audi A6 also continues to maintain the best-selling luxury sedan models in September, with the BMW 5-Series and Audi A6 both falling short of Mercedes-Benz E by nearly 5000, according to FIFA data.
However, in terms of sales for the whole year of this year, the three brands are still dominated by the Mercedes-Benz brand in China, with Mercedes-Benz totaling 288400 vehicles in China in the first three quarters, an increase of 14% over the same period last year, and BMW's 230600 vehicles in China in the first three quarters, up 31.1% from the same period last year. Audi lags behind the first two by a wide gap.
Second-tier luxury brands, domestic independent luxury brands once again surpassed the Lexus brand, once the "champion" Cadillac achieved anti-Lexus, returning to the second-tier first place.
Cadillac, which has been left behind by Lexus for many months, has successfully pulled up sales since the outbreak this year. However, Cadillac finally returned to the second tier with a strong performance in September, bringing back the gap that had previously lagged behind Lexus with nearly 27000 of new car sales. Public data show that Lexus sold 158400 vehicles in China in the first three quarters, while Cadillac sold 152300 vehicles in the first three quarters, still lagging behind Lexus.
For Lexus, the price of the luxury car market continues to decline, and the terminal greatly allows interest concessions to become the norm, which is also one of the important reasons for the continued growth of the luxury car market. However, Lexus is doing the opposite, the terminal discount is relatively small, and some hot-selling models even have the phenomenon of price increase. Perhaps this is why Lexus maintains a high value and the identity of imported cars attracts a lot of consumers.
The Red Flag brand, which successfully surpassed Lexus, undoubtedly became the highlight of the month. With the launch of a number of mid-and high-end models, its growth momentum is very obvious. Under the predicament of the impact of independent brands on the high-end road, Red Flag brand has successfully made its sales higher and higher through the change of image, product and market positioning. On the contrary, the performance of the Volvo brand tends to be stable, achieving only single-digit growth in September and continuing to remain in the middle of the second-and third-tier luxury market.
Compared with some second-tier luxury brands, now sales of many brands have been reduced to the third line, with monthly sales generally less than 10,000 vehicles. Due to the limited brand value, Jaguar Land Rover and Lincoln have achieved growth, but their share in the luxury market is still small. Infinini, which is more affected by brand positioning and product backwardness, declined by nearly 40% in September and has become one of the few brands with negative growth in the luxury market. The Porsche brand due to higher positioning and longer product cycle, to its smaller demand in China, sales have been in China around 10,000 vehicles.
For the luxury electric market, due to the strong trend of personal choice of electric products, Tesla, Ulai and ideal all achieved significant growth, maintaining triple-digit growth, with a relatively large increase in September this year due to a low base in the same period last year.
Throughout the high-end market, the continued prosperity of the luxury car market is also due to the high-end demand for consumer upgrading, as well as the price advantage brought about by the falling discount prices of luxury models, which further increases the market share of luxury cars. The Federation believes that with the gradual upgrading of consumers' purchasing power, especially now that the proportion of exchange groups is gradually increasing, the tendency of average consumption prices to rise year by year has become very obvious.
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