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"Automotive Industry concern" learned from the "Research report on China Automobile maintenance rate in December 2022" released by the China Automobile Circulation Association, which shows that the ranking of three-year preservation rate of luxury brands changed significantly in December 2022. Audi surpassed BMW with a preservation rate of 65.2%, while there was a general downward trend among independent brands.

Among the 13 luxury brands on the list in December, there were 5 brands with a preservation rate of more than 60%, namely Porsche, Lexus, Mercedes-Benz, Audi and BMW, all of which were first-tier luxury car brands. however, both Lexus and Mercedes-Benz declined last month, with Lexus down 3.0% and two three-year preservation rates of 79.6% and 70.0%, respectively, while Porsche is still growing. The preservation rate is 87.6%.

In addition, what has changed a lot in the list is that the BBA ranking, which has not changed for a long time, has become BAB. Audi's hedging rate rose 2.2% to 65.2% month-on-month in December. BMW also rose 1.4% from the previous month, but it was overtaken by Audi. Land Rover, ranked sixth, had the highest decline among luxury brands, falling 8.5% to 58.9% from the previous month. The preservation rates of Cadillac, Acura, Infiniti and Jaguar also declined year-on-year, while Volvo and Lincoln improved slightly. Tesla's preservation rate is the same as last month, not in the top 10.

In terms of joint venture brands, those with a value preservation rate of more than 60% are all Japanese and Korean brands, of which the top two are Japanese brands. Toyota ranks first with a value preservation rate of 76.6%. At the same time, it is the brand with the highest value preservation rate of 6.2%. The China Automobile Circulation Association said that the price of Toyota used cars rebounded sharply, among which Camry and Elfa models had higher trading volume in December and accounted for an increase in brand weight. As a result, Toyota has also returned to the list of joint venture brand preservation rates. At the same time, the preservation rates of Kia, Nissan, Hyundai, Ford, Peugeot, Citroen and Chevrolet all increased month-on-month, with the preservation rates of French Peugeot and American Ford up 2.2% and 2.0% respectively. Overall, the preservation rates of Korean and French brands increased in December, American brands remained relatively stable, and the gap among major brands gradually narrowed.

Let's take a look at independent brands, the overall brand preservation rate generally showed a downward trend in December. Compared with last month, the 15 independent brands on the list in December, with the exception of the Mingjue brand, the three-year preservation rate rose slightly by 0.1% from the previous month, while Geely remained unchanged, while all the other brands showed a downward trend, but the decline was relatively small. It should be noted that the preservation rate of independent brands has declined many times in the second half of 2022.

In terms of subdivision, the value preservation rate of Wuling, which ranks first, is 67.5%, down 0.2% from the previous month, while that of Chuanqi and Lengke is 61.1% and 59.1%, respectively, down 0.7% and 0.8% from the previous month. NIO had the highest decline in the list, falling 1.3% to 57.5% from the previous month. BYD was among the top 10 new energy car companies, but the preservation rate also fell 0.4%. Magnified the whole year of 2022, Baojun, Wei card preservation rate showed a downward trend in 2022, of course, this is also related to their market performance. Take Wei Brand, for example. As the first high-end brand launched by Great Wall, sales of Wei Brand plunged 27.53% to 35000 vehicles from January to November 2022 compared with the same period last year.

Finally, let's take a look at the new energy market. Under the influence of the state subsidy, some subtle changes have taken place in the new energy market. For example, many car companies have adopted the time-limited price policy and other promotional methods to seize more orders, such as Xiaopeng Automobile, Changan Automobile, AITO, Geely Automobile and Euler. Lantu Motors launched "Land compensation". The order Lan FRE will provide local financial subsidy of up to 30000 yuan on December 31, 2022.

With the formal termination of subsidies for new energy vehicles on December 31, 2023, vehicles licensed since January 1, 2023 will no longer enjoy state subsidies (ranging from 10080 yuan to 13860 yuan per vehicle), and some car companies have also begun to adjust the prices of their models. Including BYD, GAC Ean, Chery New Energy, Changan Deep Blue, SAIC Roewe and other car companies have announced price increases. The main reason is the abolition of the new energy subsidy policy and the impact of rising prices of raw materials. However, there are also some car companies that will not raise prices after announcing the abolition of the state subsidy, including Great Wall Wei Brand, Lantu cars and zero-running cars.

In terms of the preservation rate of new energy, the preservation rate of new energy vehicles rebounded in December. China Automobile Circulation Association pointed out: "the rise or fall of different car companies or products is an opportunity for manufacturers to adjust their product positioning, and the new energy vehicle market will enter a real market-oriented pricing stage after 2023." In addition, due to the price war between different car companies, it is expected that the increment of new energy vehicles will face greater pressure this year.

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