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On January 18, the China Automobile Circulation Association released the 2023 report on the preservation rate of Chinese cars, which includes the ranking of brands, models, classes and new energy vehicles. Let's take a look at what changes have taken place in China's auto preservation rate in 2023.

The report briefly introduces the value preservation rate of each class of models within three years. Overall, with the exception of compact cars and small SUV, the three-year preservation rates of compact cars and small SUV are 56.96% and 57.72% respectively. Among them, the preservation rate of medium and large SUV is the highest, which is 69.81%, followed by medium and large cars and small cars, and the three-year preservation rate is 66.81% and 66.67%, respectively. For comparison, in 2022, the three-year preservation rates of small cars, medium and large vehicles, medium and large SUV and MPV all exceeded 70%, of which medium and large SUV took the lead with a preservation rate of 78.76%.

Specific to the performance of the preservation rate of different brands in various countries, in 2023, the German brand Porsche remained at the top of the list with a three-year preservation rate of 83.74%, and it was also the only brand with a preservation rate of more than 80%. Mercedes-Benz, BMW and Audi ranked second to fourth respectively, with three-year preservation rates of 69.16%, 64.58% and 61.43%, respectively. The Volkswagen brand continues to be at the bottom, with a three-year preservation rate of 59.95%.

In terms of Japanese brands, the top three brands are Lexus, Toyota and Honda, of which Lexus and Toyota have a value preservation rate of more than 70%, 75.96% and 70.09% respectively. Besides the top three, the preservation rates of Mitsubishi, Acura and Infiniti all fell by 60%, to 58.70%, 50.40% and 50.29%, respectively. However, this is to be expected. With the reform of the car market, Mitsubishi, Acura and Infiniti have a lower and lower sense of presence at home, among which Mitsubishi and Acura have all retreated to the Chinese market. In addition, as a luxury brand owned by Nissan, in recent days, there has also been news that Infiniti has been caught in the domestic market by a large number of dealers closing and withdrawing from the net, and a sharp decline in store sales.

As for the reason why Porsche and Lexus hold the first place in value preservation rate, in addition to the import identity online, the stability of terminal market price is also the main reason why the preservation rate is in the forefront.

In terms of American brands and Korean brands, Jeep is the only American brand with a preservation rate of more than 60%, with a preservation rate of 61.13%. As a reference, Buick ranked first with a preservation rate of 65.41% in 2022, but fell to fourth place in 2023, with a preservation rate of 58.09%. In the list, Tesla ranked sixth with a preservation rate of 54.60%, compared with 59.43% in 2022. In terms of Korean brands, the preservation rates of Kia and Hyundai are 60.20% and 59.23% respectively.

In the ranking of the value preservation rate of joint venture manufacturers, the Japanese brand FAW Toyota ranked first, with a preservation rate of 69.34%, while Guangzhou Auto Honda, Guangzhou Automobile Toyota and Dongfeng Honda ranked relatively high, with a value preservation rate of more than 65%. It is worth mentioning that the ranking of Beijing Mercedes-Benz soared from fifth in 2022 to second in 2023, but the preservation rate dropped from 71.83% to 68.22%.

In terms of independent brands, there are four brands with a preservation rate of more than 60% in the three years of 2023. Among them, GAC MOTOR is ahead of other brands with 64.28%. Since its preservation rate surpassed Wuling in January 2023, it has been ranked first in monthly preservation rate since then. The annual value preservation rates of Wuling Automobile, LinkedIn and Changan in 2023 are 62.21%, 60.56% and 60.12%, respectively. In addition, the ideal car also appeared on the list, with a value preservation rate of 58.61%, which is related to the relatively strong market sales performance of the ideal car in 2023. Data show that a total of 376030 ideal cars were delivered in 2023, an increase of 182.21% over the same period last year, making it the highest delivery company in the "Wei Xiaoli" camp.

In addition to announcing the preservation rates of brands in various countries, the China Automobile Circulation Association also publishes the ranking of the preservation rates of subdivided models at all levels.

In terms of segmentation, in the small car market, the top three models with the preservation rate are all from the MINI brand, and the model with the highest preservation rate is MINI, which is 71.71%, followed by JCW and MINI CLUBMAN, and the preservation rate is more than 70%. This also shows the position of the MINI brand in the small car market to a certain extent. In addition, in the list, Honda Feido's preservation rate is 68.91%. As a reference, Honda ranked second in 2022, with 79.77%. By contrast, both the ranking and the preservation rate showed a downward trend in 2023.

In the compact car market, the value preservation rate of minority imported cars is not low, such as Volkswagen Beetle, Audi S3 and BMW 2-Series. It is worth mentioning that the Honda Jade, which was discontinued in 2020, is still the hot car in the used car market, ranking first in the preservation rate of the joint venture compact car with a preservation rate of 69.18%, followed by the Civic at 67.46%.

The midsize car market is basically dominated by BBA and Liangda. The models that squeeze into the top 10 of the preservation rate of medium-sized cars are Audi RS 4, Audi S4, Accord, imported Mercedes-Benz C-Class, BMW 3-Series, Camry, BMW 4-Series, Asian Dragon, Audi A5 and Yingshi School, of which Audi RS 4, Audi S4 and Accord have three-year preservation rates of more than 70%.

In the medium and large car market, due to the relatively few products in this field, the value preservation rate is well regulated as a whole. Among them, imported Lexus ES is 72.62%, compared with the preservation rate of 91.36% in 2022, decreased a lot in 2023, but still ranked first on the list. The preservation rates of Mercedes-Benz E-class and imported Audi A6 are 71.15% and 69.51%, respectively.

In the small SUV market, the highest value preservation rate is from the Korean Kia Yi run, which replaced the No. 1 Giemney in 2022. Although the sense of existence of Yi run in the domestic market is not high, but the advantage lies in the price advantage, the price range of the car is 6.98-83800 yuan. In addition, the preservation rates of the top 10 models on the list are more than 60%, of which Hyundai ix25 and Baojun 510 have a preservation rate of 64.36% and 64.04%.

In the field of SUV, the one with the highest heat and the highest proportion of total sales is the compact SUV,2023, which has the highest value preservation rate in this field, which is 77.58%. As the main selling model of the tank brand of Great Wall, the sales of tank 300 have been booming since it was put on the market, and the price has gone up in the second-hand car market, and the demand has only increased. In addition to tank 300, Harvard M6 and Haverdog appeared on the list, while Changan CS75 PLUS ranked last with a value preservation rate of 63.66%. In addition, RAV4 Rongfang, Wellanda, CR-V, MINI CLUBMAN, Hao Ying and Zhi run are also in the top 10.

As for the current high growth of new energy vehicles, as the vast majority of electric vehicles on the market are less than three years old, so it is impossible to calculate the three-year preservation rate. China Automobile Circulation Association gives a ranking of one-year preservation rate. Among them, the top three models in the field of pure electric vehicles are Porsche Taycan, BYD Dolphin and Collaway CLEVER, with preservation rates of 80.66%, 79.78% and 79.52% respectively. The top three plug-in hybrid models are Porsche Panamera E-Hybrid, Porsche Cayenne E-Hybrid and ideal L9, respectively, with a preservation rate of more than 80%.

For the performance of China's used car market in 2023, the China Automobile Circulation Association said that the used car market is active and the market scale is expanding. Data show that the cumulative trading volume for the whole of 2023 increased by 14.88 per cent year-on-year to 18.4133 million vehicles. The report points out that in the next few years, the second-hand car market will become an important part of the automobile circulation field, and will continue to maintain a steady growth trend in the future.

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