AutoBeta(AutoBeta.net)09/04 Report--

On September 2, the China Automobile Circulation Association released the Research report on China's Automobile value retention rate in August 2024. The report includes the ranking of national brands, national models, all levels of models and the preservation rate of new energy vehicles. Let's take a look at what changes have taken place in China's auto preservation rate in August 2024.

First, let's take a look at the 3-year value preservation rate of each level. In August, the preservation rate of all levels of models declined collectively, and the decline was very obvious. Specifically, the higher preservation rate is in the MPV market, which is 63.2%, but down 2.1% from 65.3% in July, followed by small cars and medium and large cars, with preservation rates of 57.4% and 57.2%, respectively, and 56.8% for medium and large SUV The preservation rates of compact SUV, medium-sized SUV, medium-sized cars and small SUV are also more than 50 per cent, 53.1 per cent, 51.7 per cent, 51.4 per cent and 50.4 per cent, respectively. Compact cars are the only market segment where the preservation rate is less than 50 per cent, at 48.5 per cent. The report said that the three major market segments with relatively high preservation rates are not mainstream volume models, which also illustrates the fierce competition from the side.

Specific to the performance of the preservation rate of national brands, in luxury brands, all the car companies in the list also showed a collective decline, entering the top five car companies are Porsche, Mercedes-Benz, Lexus, Land Rover and BMW. Among them, Porsche is the only car company with a preservation rate of 71.4%, but it is down 1.7% from the previous month; the latter four are down 2.1%, 1.9%, 0.4% and 2.8%, respectively. In terms of the decline of the top five automakers, the smallest decline was Land Rover, which overtook BMW and Audi. Audi ranked sixth on the list, with a value preservation rate of 53.1%, down 2.9% from the previous month.

In addition, Lincoln, Tesla, Cadillac, Volvo, Acura, Jaguar and Infiniti all showed varying degrees of decline compared with July, with preservation rates of 52.0%, 51.8%, 50.8%, 47.8%, 44.1%, 42.8% and 38.3%, respectively.

In terms of joint venture brands, the top three brands on the list are all Japanese brands, namely Honda, Toyota and Mazda. The preservation rates of value in the three years have all declined compared with the previous year, with the preservation rates of 57.7%, 53.5% and 51.9% respectively, down 2.3%, 2.2% and 0.5% respectively. Nissan, which is also a Japanese brand, ranked sixth on the list, with a value preservation rate of 51.2%, down 1.9% from the previous month; in addition, Mitsubishi also fell 1.9% to 45.9% from the previous month.

Other brands, including Kia, Volkswagen, Hyundai, Ford, Buick, Skoda, Jeep, Chevrolet, Citroen and Peugeot also showed a decline in three-year preservation rates. Of this total, Buick fell 3.4% to 49.2%. Jeep fell 3.3% to 46.8%.

Let's take a look at independent brands. The preservation rate of most independent brands also declined month-on-month in August compared with July, but the decline was slightly smaller. As for the reasons for the decline in the preservation rate, the report points out that it is mainly affected by the trend of continuous price reduction of joint venture brands, superimposing market concerns about the next price war. Specifically, Chuanqi is still at the top of the list. After surpassing Wuling in January 2023, its preservation rate has remained first, with a preservation rate of 58.5% in August, down 3.1% from 61.6% in July, followed by LinkedIn and Wuling, both with a preservation rate of 53.4%, but decreased by 2.5% and 2.2%, respectively. Changan and Geely were 52.7% and 52.3% respectively, down 3.1% and 2.7% respectively from the previous month. In addition to the top five brands, including Harvard, Chery, Mingjue, Auchan, Roewe, Baojun, BYD, ideal, Red Flag, Pentium, the value preservation rate of three years has decreased to varying degrees. Among them, the preservation rate of BYD was 47.3%, down 3.4% from 50.7% in July.

Finally, let's take a look at the field of new energy vehicles. Although the overall penetration rate of domestic new energy vehicles is gradually increasing and surpassed fuel vehicles in July, the preservation rate of new energy vehicles still has a slight decline in the used car market. According to the power type, the value preservation rate of plug-in hybrid models in three years is 45.5%, down 2.4% from 47.9 in July, while that of pure electric models is 45.8%, down 2.7% from 48.5% in July.

Among the subdivided models, in the list of pure electric vehicles, the top three models with one-year preservation rate of pure electric vehicles in August are Model X, Model S and BYD Seagull, while the top three models with three-year preservation rate are Porsche Taycan, Mercedes-Benz E-Star and BYD Dolphin.

In the plug-in hybrid list, the top three models with one-year preservation rate are Cayenne E-Hybrid, Tank 500 New Energy, Panamera E-Hybrid, ideal L9, ideal L7, M7, ideal L8, Chuanqi E9, Tengli D9 and Wei Brand Lanshan models are all in the top 10; the top three models with three-year preservation rate are Cayenne E-Hybrid, Panamera E-Hybrid and 4xe.

Overall, the preservation rates of all levels, luxury brands, independent brands and new energy brands declined in August compared with July. At present, the preservation rate of cars is still the standard for consumers to consider when buying cars, especially in the second-hand car market and in the case of additional purchases. Generally speaking, a vehicle with a high preservation rate usually means that its value is close to that of a new car in the used car market. However, the preservation rate is not the only standard, and the final car purchase decision needs to be judged according to the specific circumstances and needs of the individual.

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