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New car sales of luxury brands grew rapidly this past August. In August 2022, luxury brands sold 247000 vehicles, up 32.40% from a year earlier, while the first echelon of luxury brands showed a strange phenomenon, with the BMW X5 surpassing the BMW X3 for the first time, according to the Federation of passengers. According to the number of new car compulsory insurance purchases, BMW X3 sales in August 2022 were 7611, down 4.20% from a year earlier, while BMW X5 (domestic) sales were 8029.

The domestic BMW X5 officially went on sale on March 31, with 2.0T and 3.0T engines available, with a price range of 60.5-635000 yuan for the 2.0T version and 70.5-775000 yuan for the 3.0T version. As we all know, the direct competitors of the BMW X5 are Mercedes-Benz GLE and Audi Q7, but these two models are not made in China, and the BMW X5 has become the first large-scale SUV of the three major luxury brands of BBA.

The mass production and listing process of domestic BMW X5 is very fast! It has been only a year since it was revealed that the BMW X5 will be made in China at the end of 2020, and it has only been a year since the domestic BMW X5 entered the new car declaration catalogue of the Ministry of Industry and Information Technology. It was previously reported that the domestic BMW X5 will be unveiled at the 2022 Beijing Auto Show. BMW Group officially released the official chart of BMW X5 on March 1, and it was only a month before it officially went on sale on March 31.

According to the insurance figures, the sales of the domestic BMW X5 from April to August in 2022 were 138,3389, 4237, 5006 and 8029 respectively, with a cumulative sales of 20796 vehicles. For comparison, the sales of imported BMW X5 were 1432, 563,822,328,187 respectively in the same period, with a cumulative sales of 13343 vehicles from January to August. It is not difficult to see from the data that the sales of the domestic BMW X5 have basically increased steadily after its listing, reaching 8000 vehicles in August, and it is not a big problem to hit a new high. While the domestic BMW X5 is growing, the sales of the imported BMW X5 are declining.

At the initial stage of listing, due to the influence of epidemic situation and chip shortage, most domestic dealers increased the price of the domestic BMW X5 in varying degrees, which was realized by means of cash and adding decorative packages, while the imported BMW X5 appeared in the terminal market to varying degrees, and the price increase behavior of dealers was criticized by many, and consumers were more willing to choose to import the BMW X5. However, at present, the BMW X5 is no longer sold at a higher price in some areas, which also gives a boost to the sales of the BMW X5.

As a first-tier luxury brand, BMW 3 Series, BMW 3 Series and BMW X3 are the main selling products of BMW in China. Data show that BMW X3 sales from April to August in 2022 were 6821, 8686, 10957, 7945 and 7611 respectively, with a cumulative sales of 75034 vehicles from January to August, down 22.91% from a year earlier. In recent months, BMW X3 sales have been volatile, and monthly sales have basically declined compared with the same period. In addition to the impact of the epidemic, the shortage of semiconductor chips is also a major factor affecting production. In this context, luxury brands, in particular, will give priority to the supply of higher-margin models, while the profit of the BMW X5 is significantly higher than that of the BMW X3. This situation can also be reflected in another set of data, BMW 5-series sales in August were 16041, up 11.10% from a year earlier, while BMW 3-series sales were 9342, down 35.35% from a year earlier.

BMW X5's main competitors are Mercedes-Benz GLE and Audi Q7, of which Mercedes-Benz GLE sold 32711 vehicles from January to August, up 2.29 per cent from a year earlier, while Audi Q7 sold only 5394 vehicles, down 53.65 per cent from a year earlier. In other models, Lincoln fliers sold 5320 cars and Cadillac XT6 15511. Previously, the Audi Q6, which SAIC Audi has just opened for pre-sale, can also be seen as a competitor to the BMW X5, but the BMW X5 is hotter by comparison.

At present, domestic medium and large SUV is still in the blue ocean, and more and more car companies begin to lay out this market. In the short term, as a first-tier luxury brand, the BMW X5 should have no competitors for the time being, and it is possible to sell ten thousand vehicles a month. Cui Dongshu, secretary-general of the Federation of passengers, has said that the hot sale of the BMW X5 is expected to further speed up Mercedes-Benz and Audi's domestic models of the same class.

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