AutoBeta(AutoBeta.net)09/19 Report--

The latest data show that 1.904 million domestic passenger cars were insured in August, an increase of 17.2% over the same period last year, of which the total number of luxury cars insured was 356000, up 14.6% from a year earlier and 9.2% from a month earlier. Auto Industry concern believes that the obvious recovery of the market in August is inseparable from local and government subsidies, especially policies such as halving the car purchase tax, and the impact on the auto industry as a whole is self-evident.

Auto Industry concern statistics on luxury brand insurance sales list in August 2022. The list shows that Mercedes-Benz, BMW and Audi are still in the dominant position, occupying the top three in luxury brands. Among them, Mercedes-Benz sold 71192 vehicles in August, followed by BMW with 66095, while Audi still ranked third with 64569. In the top 10 rankings, only Lexus showed a double year-on-year decline, with sales of 18991 vehicles in August, down 6.8 per cent from a year earlier and 2.1 per cent from a month earlier.

First of all, let's take a look at the first-tier luxury brand market. Mercedes-Benz performed brightly, ranking first in the luxury market with 71192 new cars in August, and surpassing BMW with cumulative sales of 512757 vehicles in the previous August. In terms of specific models, the three main selling models of Mercedes-Benz GLC, Mercedes-Benz E-Class and Mercedes-Benz C-Class are all over 10,000, with sales of 14587, 13987 and 10844 respectively.

BMW was once again overtaken by Mercedes-Benz, with August sales up 9.6 per cent year-on-year to 66095. As first-tier luxury brands, BMW 5-Series, BMW 3-Series and BMW X3 are BMW's main selling products in China, with sales of 16041, 9342 and 7611 respectively. Oddly enough, as the latest domestic model of BMW, and as the first medium-and large-scale SUV of the first-tier luxury brand, the BMW X5 surpassed the BMW X3 with sales of 8029 vehicles in August. 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.

As for Audi, it is the brand with the biggest year-on-year growth in the BBA campaign, but still lags behind BMW and Mercedes-Benz. In terms of specific models, Audi A4L sold 14706 vehicles in August, Audi Q5L sold 13429 vehicles, Audi A6L sold 12786 vehicles, and Audi A3 sold 6336 vehicles. At present, Audi has two major joint venture brands in China, namely FAW-Audi and SAIC Audi. SAIC Audi's domestic models include Audi A7L and Audi Q5 e-tron, and Audi Q6 has been pre-sold. Although they are both Audi brands, the gap between them is still relatively large. The two models already made by SAIC Audi have performed poorly in the market, of which the Audi A7L sold only 254units in August and only 2461 in the previous eight months. the performance is not even as good as that of imported Audi A7. To this end, in early September, SAIC Audi adjusted the price of the Audi A7 45TFSI model. The original guidance price range was 45.98-519900 yuan, while the new guidance price range was 41.87-489900 yuan, with a minimum reduction of 20000 yuan and a maximum reduction of 41000 yuan. The starting price is cheaper than the Audi A6L.

Looking at second-tier luxury brands, Red Flag, Cadillac and Volvo all achieved year-on-year growth, but Lexus, as an imported brand, fell 6.8% year-on-year, making it the biggest drop on the list.

As a luxury brand of Toyota Group, although Lexus is not produced locally in the Chinese market, but sold in the form of imported cars, it is still favored by many domestic consumers. it once competed with Cadillac for the title of second-tier luxury brand. According to the data, Lexus sold 18991 vehicles in the domestic market in August, down 6.8% from a year earlier and 2.1% from the previous month. Lexus is the only brand on the list that has declined compared with the previous month.

In the Lexus product camp, the best-selling model is the Lexus ES, which sold 10233 cars in August, making it a premium car under Lexus. However, according to Lexus owners, the car has been able to lift the car at an affordable price, and even the price increase is mostly achieved by adding. Admittedly, with the rise of its own brands, Lexus seems to have fallen to the altar, especially the price increase and car lift operation has been complained by many consumers. Of course, it is not just Lexus, including Cadillac and Volvo, which are more or less affected, and the reason why Cadillac and Volvo can maintain the market heat is that their models have greater discounts in the end market. However, in the previous August sales, Lexus still outperformed Cadillac and Volvo.

In the second echelon of the luxury market, the independent brand Red Flag continued its previous hot market performance, ranking fifth with 25490 vehicles, but the volume of insurance was still down 1.9 per cent compared with the same period last year. Recently, the new car action of Red Flag is also very frequent. On July 26th, the new Red Flag H5 officially went on sale, with a price range of 15.98-225800 yuan. The previous generation of Red Flag H5 was renamed "Red Flag H5 Classic" and sold in the same room with a new generation of models. On August 10, Red Flag LS7 officially launched, the new car positioning large SUV, a total of elegance flagship and Zun Jue flagship models, priced at 1.3658 million yuan and 1.4658 million yuan respectively. In terms of power, the new car is equipped with a 4.0T V8 turbocharged engine, the maximum power is 265kw, the maximum torque is 500N ·m, and the transmission system matches the eight-speed manual self-integrated transmission. In addition, Red Flag HQ9 officially unveiled and opened its pre-sale on August 12, with an advance price of 400000 yuan, which is expected to be officially listed in September.

Among other brands, Tesla, who ranked fourth, became the fastest-growing brand on the list, with Tesla selling 35647 vehicles in August, and the delivery time of both the Model 3 and Model Y models has been reduced to 1-10 weeks. Tesla subsidized its two domestic models on Sept. 16, giving owners of Model 3 and Model Y delivered between September 16 and September 30 an insurance subsidy of 8000 yuan, a move that may herald Tesla's next big move. Lincoln's performance is relatively stable, the current market sales are basically stable at the level of 8000 vehicles, the number of dangerous vehicles in August was 8283, mainly from adventurers.

In addition, more and more brands begin to position high-end, such as NIO, Lantu, Jihu, Cyrus and so on. According to the data, Xilai insured 10575 vehicles in August, an increase of 63.3 per cent over the same period last year. At the 2022 Chengdu Auto Show, Qin Lihong, co-founder and president of Lulai Motor, said bluntly: "in the past year, the average monthly sales of the BMW 3-Series is more than 12000, and the sales of the Lailai ET5 will exceed the 3-Series within a year." As for whether Chinese brands can succeed in overtaking around the corner in the era of new energy vehicles, we might as well look forward to it.

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