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Due to the market recovery superimposed by the traditional peak season of September / October, coupled with the continuation of the domestic purchase boom, the luxury car market continues to maintain a strong trend. Luxury car retail sales rose 30% year-on-year in October, according to the federation of passengers. But it is worth noting that in such a growing environment, the best-selling models of various luxury brands showed some signs of decline in October.

In October, the luxury market maintained its growth trend, surging by more than 30% compared with the same period last year, but fell 9% month-on-month compared with the September market. At the same time, the passenger car market was delayed by the epidemic this year, and sales in October were higher than those in September, with an increase of 4.1 per cent to 1.992 million vehicles compared with the previous month. This shows that luxury car brands have shrunk slightly and their growth has slowed under a stronger trend in October this year.

This is due to insufficient supply in October, which caused BMW-Mercedes-Benz and other production to be lower than retail, temporarily curbing retail growth, but high-end swap demand for consumer escalation is still strong, according to the HKIFA.

However, according to the latest China Automobile Dealers inventory early warning Index Survey released by the China Automobile Circulation Association, luxury / imported brands became the only area showing exponential growth in October, while mainstream joint venture brands or independent brands showed a downward trend, meaning that as brands entered the year-end replenishment stage, luxury brand sales declined slightly and inventory pressure increased.

From the perspective of the segment of luxury car models, except for Audi brand growth in October, all other models showed signs of decline. Among them, the Audi A6 was gradually magnified by holiday price concessions, with a year-on-year increase of 23.9% in that month, making it not only the best car sales in October, but also the single model with the largest year-on-year growth, but due to the impact of the market as a whole, monthly sales were lower than last month. Although the Audi A4 has been replaced with a new generation and the expansion of terminal offers, it has also returned to the previous height.

In contrast, Mercedes-Benz and BMW brands have seen varying degrees of decline in sales, which is also due to the unified revamping of the BMW 5-Series and Mercedes-Benz E-Class models under the two major brands, and the new models were unveiled at the Beijing auto show at the end of last month. Therefore, with the replacement of new models, terminal discounts have shrunk, resulting in models unable to get a greater increase in sales. At the same time, due to the low production capacity of the new models, insufficient supply has also become one of the factors.

Cadillac and Volvo, the second-tier luxury brands that have given more concessions, are also irreversible and declining in October. Obviously, even in giving more concessions, there is no stronger brand premium than BBA second-tier luxury brands are difficult to maintain the trend of sustained growth. In addition, under the influence of the increasing number of related complaints like Volvo brands here, it has led to a decline in brand sales.

However, the brightest spot is Red Flag H9, which has been on the luxury car list for two consecutive months due to changes in its brand image, products and market positioning, proving once again the strength of independent brands to impact the high-end market.

Compared with the car market, the luxury SUV field maintains a higher growth trend, which is also due to the fact that under the craze of collective purchase in the domestic market, SUV has become the hottest segment in China, superimposed by the premium of luxury brands, which makes luxury SUV the first choice for more consumers to buy or buy new models.

Except for BBA brands, other brands have achieved more obvious homeopathic growth under the overall growth trend of the luxury car market. BBA series models have reached more than 10,000 vehicles, of which the BMW X3 has the largest year-on-year growth of 37.9%, and the sales gap among the three is extremely small in that month. On the other hand, only Volkswagen Touang has declined in the SUV market.

Although the growth of second-tier luxury brands, but the overall performance of the car market is also the same as BBA, in which Cadillac XT6 due to the launch of new cars in previous years, to a year-on-year growth. In addition, the ideal ONE, as a new energy vehicle, has also appeared on the list many times, precisely because it is currently the highest-selling model in the high-end new energy SUV.

On the whole, although the performance of the luxury market is strong this year, it has shown a growth trend for several consecutive months. under the influence of the epidemic, the sales of most luxury brands have gradually recovered throughout the year. However, the luxury car sector did not perform as well as the SUV sector under the buying spree, and only high-end SUV models became regular from January to October. The side reflects that the high-end SUV market is more in line with the preferred models under the enthusiasm of domestic consumers.

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