AutoBeta(AutoBeta.net)09/10 Report--

A few days ago, the China Automobile Circulation Association released the "Research report on China's Automobile value retention rate in August 2023". The report shows that compared with the impact of sustained flood conditions and macroeconomic pressures on car supply and willingness to consume in July, the car market has improved in August, but there is still a downward trend to varying degrees in all major segments.

In terms of breakdown, the preservation rates of most models in August showed a downward trend, including compact cars, medium-sized cars, medium-sized and large-sized cars, small-sized SUV, compact SUV, medium-sized SUV and medium-and large-sized SUV, among which the highest month-on-month decline was in medium-and large-sized SUV, which fell 4.1% to 66.6%. In contrast, small cars and MPV increased to a certain extent, of which small cars rose to 65.7% from 65.1% in July, up 0.6% from July to 62.8% from 60.8% in July, representing an increase of 2.0% over the previous month.

The China Automobile Circulation Association said that this is mainly due to the decline in the price of used cars, of which medium-sized cars have the smallest price decline and are relatively more value-preserving, and medium-sized cars of various brands are usually more powerful. The temporary rebound in the preservation rate of small cars cannot conceal the reality of shrinking trading volume.

Specific to the performance of the preservation rate of national brands, among the 13 brands on the list in August, the three-year preservation rate generally decreased, while only Porsche, Lincoln and Cadillac increased. The list shows that there are six brands with a preservation rate of more than 60% in the three years of August, namely, Porsche, Lexus, Mercedes-Benz, BMW, Land Rover and Audi, which are in line with July, but only Porsche has achieved small growth. a slight increase of 0.1% to 82.6% from the previous month. In the BBA camp, the preservation rates of Mercedes-Benz, BMW and Audi all declined, which reflected the lack of market demand and the loss of potential customers of second-hand BBA, the report said.

In terms of joint venture brands, Toyota and Honda are still in the top two, of which Honda fell 0.4% month-on-month to 66.6%. In addition, Mazda and Nissan also declined, down 0.5% and 0.9%, respectively. Overall, however, mainstream Japanese and German brands have performed relatively steadily, especially in off-road vehicles, where Toyota, Mitsubishi and JEEP have all grown. The report points out that the performance of mainstream car brands in Japan and Germany is relatively stable, especially in the field of off-road vehicles, especially Toyota, Mitsubishi and JEEP.

In addition, the value preservation rate of Kia's three-year car age rose 0.5% to 61.3% month-on-month, while the preservation rate of American brands did not exceed 60%. "from the brand dimension, the prices of Korean American brands and Japanese second-tier brands fluctuate greatly, and the ups and downs are unsustainable, while German and Liangtian prices are very stable," the report said. "

Let's take a look at independent brands. In August, the preservation rate of independent brands showed different trends. Among the 15 brands on the list, only Chuanqi, Linke and Red Flag increased month-on-month, while most other brands showed a decline. The report said that the high-end brands among independent brands depreciated faster, while the parity route was the mainstream, and the secondary market played a role in verifying manufacturers' pricing strategies.

In terms of subdivision, Chuanqi is still at the top of the list. Since surpassing Wuling in January this year, its preservation rate has remained first, with a three-year preservation rate of 64.9%, an increase of 0.4% from the previous month. In addition, Lectra, with a value preservation rate of more than 60%, also increased in August, slightly longer than the previous month by 0.1% to 60.7%. In the list, what has changed greatly is that the ranking of Red Flag brand surpassed Wei Brand, and the three-year preservation rate increased by 0.1% to 51.6% month-on-month. In the new power camp, the three-year-old preservation rate of ideal car is the highest of 57.7%, but dropped 0.2% month-on-month. Lulai Automobile ranked last on the list, and the preservation rate dropped 0.5% to 51.3% from the previous month.

As for the field of new energy vehicles, although the overall permeability of new energy vehicles has increased, but under price pressure, the preservation rate of used cars has also declined to varying degrees. According to the type of power, the price of plug-in hybrid models has declined due to the influence of "the same price of oil and electricity" in the new car market, which has also affected the value preservation rate of the used car market. Among them, the value preservation rate of plug-in hybrid models was 54.5%, down 1.3% from 55.8% in July, while that of pure electric models was 54.2%, down 1.0% from 55.2% in July.

In the plug-in hybrid list, the top three plug-in hybrid models (three years old) are Porsche Panamera E-Hybrid, Porsche Cayenne E-Hybrid and Song Pro DM-i. In addition, a number of BYD models squeezed into the list TOP15, including Song Pro DM-i, Song PLUS DM-i, Tang DM-i, Han DM-i, Destroyer 05, Song MAX DM-i and Qin PLUS DM-i all entered the list of plug-in hybrid models (one year old), while Han DM, Song MAX DM and Song Pro DM also appeared in the three-year-old list.

In the list of pure electric models, the top three models with preservation rates (one year old) are Porsche Taycan, Model 3 and Dolphin, respectively, with preservation rates of 79.2%, 78.7% and 77.8% respectively. Among them, Model 3 and Dolphin have risen a lot. In addition, BYD also has a number of models in the list TOP15, including Song PLUS EV, Yuan PLUS and Han EV. Euler White Cat, Zero running T03 and Hongguang MINIEV are in the top three of the list of "pure electric models (three years old)", with preservation rates of 68.1%, 68.0% and 66.6%, respectively.

The China Automobile Circulation Association pointed out in a report that this year's Chengdu auto show is not as hot as it used to be, and new car releases are not focused on this period of time, resulting in a change in the seasonal trend of the auto market. In addition, the macroeconomic pressure in the second half of the year is still strong. After the suspension of car consumption in July, a series of new cars released in August may lead to a wave of car replacement in September, and second-hand cars will once again benefit from the release of replacement demand. the declining trend of car supply may be curbed.

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