AutoBeta(AutoBeta.net)05/30 Report--

Recently, at the 2021 China Automobile Dealers Conference sponsored by the China Automobile Circulation Association, Kaida Research Institute released a research report on the competitiveness of Chinese automobile brands in 2021.

Brand competitiveness mainly examines the profit level of dealers, changes in brand market share, sales and investment recommendations and other indicators, according to the information, among luxury brands, Lexus, BMW, Mercedes-Benz, Porsche, Bentley and Red Flag have good reputation among dealers, while mainstream joint venture brands FAW Toyota, Guangzhou Automobile Toyota and Guangzhou Automobile Honda also get good scores, with a comprehensive score higher than 8. As can be seen from the chart, dealers' reputation for independent brands is relatively low, non-independent brands have entered a high rating, such as Geely, Changan, Harvard, Lecker and other brands have received a medium rating. In addition, luxury brands Infiniti, mainstream joint venture brands Skoda, Buick, Guangzhou Auto Fick, Guangzhou Automobile Mitsubishi, independent brands GAC MOTOR, BYD, Chery and other brands crossed, with a comprehensive score of less than 6 points.

From the perspective of dealer recommendation, the brands with fast sales growth and high recommendation are mainly Red Flag, Bentley, Lexus, Changan passenger car, Luck and other brands, while the sales growth of brands such as Skoda, Citroen, Guangzhou Automobile Mitsubishi and Peugeot is slower, and the recommendation of dealers is lower.

In terms of market share, the brands with increased market share from 2019 to 2020 mainly include luxury brands Tesla, Red Flag, Lexus, Lincoln, etc., and mainstream joint venture brands Guangzhou Auto Toyota, Guangzhou Automobile Honda, Dongfeng Honda, Changan Ford, FAW Toyota, Dongfeng Nissan, etc., independent brands Changan passenger cars, Lecker, Harvard and car-making brands Lai Lai, Xiaopeng, ideal and so on. Of course, there are also some brands with a declining market share, such as Mercedes-Benz, BMW, Audi, FAW Mazda, Peugeot, Citroen, Beijing Hyundai, WEY, Roewe, Geely, Baojun and other brands.

In terms of profitability, Japanese brands perform well and the return on investment is in the leading position, followed by European, American and Korean, and the return on investment of independent brands is the lowest, while Korean and Chinese are relatively low. Korean is mainly affected by the decline in new cars, while Chinese is caused by weak profits in after-sales. In terms of inventory coefficient, the inventory coefficient of Japanese brands is the lowest, followed by European and American brands, and Korean brands are the highest. From the perspective of market segmentation, the inventory coefficient of luxury brands is the lowest, the mainstream joint venture brands are in the middle, and independent brands are the highest but within a controllable range. The reason why the inventory coefficient of the Korean system is high is mainly due to sales, including Beijing Hyundai and Dongfeng Yueda Kia in the domestic market are not optimistic, resulting in inventory is much higher than other departments. The low inventory index of luxury brands is also due to sales, which reached a new dimension in 2020, including Mercedes-Benz, BMW, Audi, Lexus, Red Flag and other brands in the market.

In terms of total gross profit margin, European and Japanese cars have the highest gross profit margin, followed by American, Korean and independent brands. From the perspective of market segmentation, the total gross profit margin of luxury brands is 8.6%, that of mainstream joint venture brands is 7.9%, and that of independent brands is 6.7%. The gross profit margin of second-hand cars is still the highest in Europe, followed by American, Japanese, Korean and independent brands.

According to the released domestic auto brand competitiveness list, the more competitive luxury brands are BMW, Mercedes-Benz and Audi, while the second echelon are Cadillac, Lexus and Red Flag brands. Mainstream joint venture brands such as North and South Volkswagen, North and South Toyota as well as Guangzhou Automobile Honda and Dongfeng Honda are in the forefront. Among independent brands, Changan passenger car, Geely and Harvard perform better.

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