AutoBeta(AutoBeta.net)05/26 Report--

On May 26, the China Automobile Circulation Association released the "Top 100 list of Chinese Automobile Dealer groups in 2023". Previously, the China Automobile Circulation Association released data that unprofitable dealers accounted for more than 70 per cent in 2022, with less than 30 per cent of dealers making profits, and more than 2000 4S stores closed for the whole year.

According to the list, Zhongsheng Group, Guanghui Automobile and Lixing Motor ranked in the top three, with business income of 179.857 billion yuan, 133.544 billion yuan and 92.387 billion yuan respectively in 2022, with total sales (including used cars) of 660517, 716167 and 243445 respectively.

As China's largest car dealer, Zhongsheng Group's main brands are luxury brands, including Mercedes-Benz, Lexus, BMW and Audi, with revenue of 179.857 billion yuan in 2022, an increase of 2.7 percent over the same period last year. By the end of 2022, a total of 520396 new cars had been sold during the year, with revenue up 2.1 per cent year-on-year to 145.42 billion yuan, 140121 used cars sold, and revenue up 20.8 per cent to 9.828 billion yuan. It is understood that Mercedes-Benz is the brand with the highest revenue from new car sales in Zhongsheng Group, accounting for 41.1% of total revenue, compared with 33.6% in 2021.

As a leading domestic dealer group, Guanghui Motor recorded its first loss since its listing in 2022, with revenue of 133.544 billion yuan during the reporting period, down 15.71 percent from the same period last year, and net profit of-2.669 billion yuan, down 265.92 percent from the same period last year. As for the causes of performance fluctuations, Guanghui Motors said that the overall economic environment is under pressure, consumer income and expectations are weakening, and consumer confidence is weak under the background that the macro-economy has not yet fully recovered. in addition, the automobile industry is hit by multiple factors that exceed expectations, resulting in poor logistics and reduced passenger flow in stores, which seriously hinders the healthy development of the automobile distribution industry. According to the data, Guanghui's total car sales (including used cars) ranked first among dealers with 716200 vehicles in 2022, down 20.4% from the same period last year.

The top three to five places on the list of the top 100 car dealers remain unchanged from last year, namely, Lixing Motor, Yongda Group and Hengxin Motor, with revenues of 92.387 billion yuan, 82.362 billion yuan and 79.807 billion yuan respectively. The three dealer groups all declined to varying degrees, of which Lexing Motor fell 6.4% from the same period last year.

Shanghai Automotive Industry, Dayuantong Automobile and Dachang Automobile ranked 6th to 8th respectively. Among them, Shanghai Automotive Industry is a wholly owned subsidiary of SAIC Group. Its operating income in 2022 was 55.074 billion yuan, rising from ninth to sixth place in 2021. Although the epidemic swept through Shanghai and other major auto industry provinces and cities during the year, its total sales (including second-hand cars) was 410600, an increase of 14.9 percent over 2021. In addition, the operating income of Dayutong Automobile and Dachang Motor in the reporting period was 52.714 billion yuan respectively. 45.127 billion yuan.

After entering 2023, more and more dealers are facing the risk of bankruptcy. At the beginning of the year, Zhejiang Zhongtong holding Group, the largest car dealer group in Taizhou, Zhejiang, ran away, closing all its 19 4S stores, which caused many car owners to panic. A few days ago, the huge group has locked in delisting, its shares for 20 consecutive trading days less than 1 yuan, the latest price is 0.4 yuan, a total market capitalization of 4.091 billion yuan.

At the automobile dealers' conference, Shen Jinjun, president of the China Automobile Circulation Association, said that for the majority of dealers, the continuous decline of the market has brought tremendous pressure for survival. Judging from the data of the top 100 dealer groups last year, there has been a decline in revenue, profits and other dimensions, which is rare in the past.

For the changes of dealers, Shen Jinjun suggested: first, make full use of policy dividends to promote the development of used cars; second, comprehensively embrace new energy and change to create a new sales and service model of new energy vehicles; third, hold the digital "bull's nose" to achieve lean operation to promote the growth of user value; fourth, automotive new retail drives deep integration online and offline.

Data show that China's automobile production and sales in 2022 are 27.021 million and 26.864 million respectively. Among them, the production and sales of new energy vehicles were 7.058 million and 6.887 million respectively, an increase of 96.9% and 93.4% respectively over the same period last year, and the market share increased to 25.6%.

With the rapid development of new energy vehicles, dealer groups also need to change. Among them, Zhongsheng Holdings increased its sales of new energy vehicles by 69.4% in 2022 compared with the same period last year, and Xiaopeng new car delivery centers and superstores in Shenzhen, Qingdao and other cities have also been put into operation. Yongda new energy vehicles increased by 54.5% compared with the same period last year. At present, Yongda has launched omni-directional strategic cooperation with smart, Xiaopeng, BYD and other leading domestic new energy brand car companies. In addition, Harmony Automobile, Xinfengtai and Zhengtong Motor have also obtained the authorization of some new energy brands and opened a number of new energy experience stores.

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