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2024-09-08 Update From: AutoBeta autobeta NAV: AutoBeta > News >
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AutoBeta(AutoBeta.net)03/26 Report--
Recently, domestic car companies are experiencing an unprecedented "price war", the major car companies "subsidy price reduction" information is everywhere, "price reduction tide" has become a key word in the automobile industry. According to incomplete statistics, so far, at least 40 car brands have participated in the "price war" through manufacturers' subsidies or dealer price cuts, involving more than 100 models, ranging from a few thousand yuan to more than a hundred thousand yuan. Not long ago, a "2023 SAIC Volkswagen employee Audi Brand car purchase activity" sparked a heated discussion online because SAIC Audi offered a discount of up to 160000 yuan for internal employees. "not only the joint venture can't handle it, but the second-tier luxury is also starting to break bones," some bloggers said. "
In response to the comments, Li, founder, chairman and CEO of ideal Motor, wanted to forward the message on his personal social account last night and posted: "the theory that crosses the gap, accounting for more than 30 per cent, is beginning to accelerate." The order of attack on fuel vehicles is: the first step, the second-line independent brand, joint venture brand, luxury brand; the second step, first-line joint venture brand; the third step, first-line luxury brand. Independent front-line brands will complete the self-replacement of new energy, and ultra-luxury brands and super-running brands will not be affected. In 2025, the proportion of new energy passenger cars will reach more than 70% (fourth quarter).
In short, in Li Xiang's personal point of view, Li Xiang believes that in the attack sequence of new energy vehicles against fuel vehicles, the share of second-tier independent brands, joint venture brands and luxury brands will be carved up first. In the latest financial report, Li wants to personally attend the earnings call and announce to the outside world the annual sales target of the ideal car in 2023. Li wants to say that the ideal car will increase its market share of 30-500000 yuan SUV from 9.5% in 2022 to about 20% in 2023. According to the FIFA data, the capacity of this segment in 2023 is about 1.4 million-1.5 million, which means that if the ideal car wants to achieve this goal, its sales target will reach about 280000-300000.
According to the analysis of the risk data in the luxury brand market in February 2023, the insurance volume of luxury cars as a whole rebounded in February. The top 10 brands on the list are Mercedes-Benz, BMW, Audi, Tesla, Red Flag, ideal, Volvo, Lexus and Cadillac. The ranking is basically the same as in January, except for the exchange of top positions between Mercedes-Benz and BMW. In terms of breakdown, the top three on the list are still the top three German BBA, with Mercedes-Benz and BMW taking risks of 57401 vehicles and 55330 vehicles respectively in February, up 42.6% and 41.62% respectively from the same period last year, but both declined month-on-month. Audi ranked third on the list in February with 40234 vehicles at risk, making it the only German brand in the top 10 with month-on-month growth.
Among the more prominent on the list are ideal car, the new force of car building, and Lulai, which took out 17003 and 11904 cars respectively in February, an increase over the same period last year and the month-on-month growth, and surpassed traditional second-tier luxury brands such as Volvo, Lexus and Cadillac.
Risk data show that in the first two months of 2023, second-tier luxury brand sales obviously lagged behind, Volvo, Lexus, Cadillac were twice crushed by ideal and Ulay. In mid-February, with the exception of Volvo, the insured volume of Lexus and Cadillac declined year-on-year, of which 10153 vehicles were insured by Lexus in February, down 21.5% from a year earlier, making it the car company with the highest decline on the list. In this regard, there is a view in the industry that the leading position of luxury brands in fuel vehicles is being diluted, and new energy brands may be one of the important factors affecting the status of luxury brands in the auto market, at the same time, as the wave of price cuts spread to first-tier luxury brands, sales of second-tier luxury brands may be squeezed again.
According to statistics, the volume of luxury brands in February was 276904, of which 64643 were new power brands, accounting for 23.3% of the total sales, with a particularly significant growth rate. For comparison, new power brands account for 13.3% and 18.7% respectively in 2021 and 2022. In short, the market share of "new" luxury brands, including ideal cars and Ulay cars, is getting stronger and stronger, while the market share of "old" luxury brands is gradually being diluted. According to Li Xiang's attack sequence of new energy vehicles against fuel vehicles, new energy brands will continue to seize the market share of luxury brands in the future.
According to the latest data from the Federation of passengers, retail sales of narrow passenger cars in China are expected to be 1.59 million in March 2023, unchanged from the same period last year, an increase of 14.5 percent over the previous year, of which retail sales of new energy are expected to be 560000, an increase of 25.8 percent over the same period last year, an increase of 27.5 percent from the previous month, and a penetration rate of 35.2 percent.
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