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

On October 9, the China Automobile Circulation Association released the "Research report on China's Automobile value retention rate in September 2024". The report covers brands of different countries, models of different countries, models of all levels and ranking of the preservation rate of new energy vehicles. Let's take a look at what changes have taken place in the preservation rate of Chinese cars in September 2024.

In September, except for the growth of the medium-sized SUV and MPV market, the preservation rates of the other classes showed varying degrees of decline in the 3-year preservation rate of each class. In terms of breakdown, the preservation rates of medium-sized SUV and MPV are 52.1 per cent and 63.3 per cent respectively, up 0.4 per cent and 0.1 per cent respectively over August.

From the perspective of the preservation rate of the whole class, the preservation rates of the two major market segments of compact cars and small SUV in September were less than 50 per cent, 47.1 per cent and 49.7 per cent respectively, down 1.4 per cent and 0.7 per cent respectively. In addition, the preservation rate of small cars was 55.1%, with a month-on-month decline of 2.3%. The preservation rates of medium cars, medium and large cars, compact SUV and medium and large SUV were 50.6%, 56.0%, 51.7% and 55.7% respectively, down 0.8%, 1.2%, 1.4% and 1.1%, respectively.

Specific to the performance of the preservation rate of national brands, in luxury brands, the top five car companies are Porsche, Mercedes-Benz, Lexus, Land Rover and Tesla. Among them, Porsche is the only brand with a preservation rate of 69.0%, but it is down 2.4% from the previous month. The following three car companies are down 1.3%, 1.5% and 0.1%, respectively. Tesla, who ranked fifth, was the only one in the top five to achieve month-on-month growth, with an increase of 1.3%. In addition, Lincoln, who ranked seventh, also grew, up 0.1% from the previous month to 52.1%.

In BBA, BMW and Audi both fell out of the top five, ranking sixth and eighth respectively, with preservation rates of 52.3 per cent and 51.6 per cent respectively, down 2.0 per cent and 1.5 per cent from the previous month. Other brands, including Cadillac, Volvo, Jaguar and Infiniti, also showed varying degrees of decline in August, with preservation rates of 48.9%, 46.9%, 41.7% and 38.0%, respectively, while Acura was the same as in August, at 44.1%.

In terms of joint venture brands, the top two on the list are Japanese brands, Honda and Toyota, respectively, with a three-year preservation rate of 56.9% and 53.6% respectively, with the former down 0.8% from the previous month and the latter increasing by 0.1%. Mazda and Nissan, both Japanese brands, ranked fourth and sixth on the list, with value preservation rates of 51.6% and 50.1%, down 0.3% and 1.1% from the previous month. In addition, Mitsubishi's value preservation rate was the same as in September, at 45.9%, but it announced its dissolution and delisting in October 2023. Overall, in September, most of the three-year preservation rate of Japanese brands still showed a downward trend.

Other brands, including Kia, Hyundai, Peugeot and Citroen, also showed a decline in preservation rates. Among them, the most obvious decline was Citroen, which fell 2.3% to 42.5% from 44.8% in August. On the contrary, including Volkswagen, Fokker, Buick, Skoda, Jeep car companies are growing. The report points out that Volkswagen, Fokker, Buick and other brands have rebounded after the replacement of their products.

Let's take a look at independent brands. The preservation rate of most independent brands also declined in September. Specifically, Chuanqi is still at the top of the list, with the preservation rate of 58.3% in September, but down 0.2% from the previous month, after surpassing Wuling in January 2023, followed by Changan and Geely, with a preservation rate of 52.7% and 52.6%, respectively. In addition, the preservation rates of Harvard, Mingjue, Chery, Auchan, Baojun, BYD, ideal, Red Flag and Pentium have all declined in varying degrees. Among them, the preservation rate of Auchan was 49.8%, down 1.2% from the previous month. Roewe is one of the few brands to achieve growth, with a preservation rate of 49.9%, an increase of 0.5%.

Finally, let's take a look at the field of new energy vehicles. With the gradual increase of the overall permeability of domestic new energy vehicles, the preservation rate of new energy vehicles of second-hand vehicles has also increased. According to the power type, the value preservation rate of plug-in hybrid models in three years is 46.2%, up 0.7% from 45.5% in August, and that of pure electric models is 46.8%, up 1.0% from 45.8% in August. The report points out that the value preservation rate of electric vehicles is slightly higher than that of hybrid models, which reflects a substantial improvement in the use environment of electric vehicles, and the charging and replacement infrastructure is no longer short. In addition, the popularity of plug-in hybrid is also very high, and market competition will be ushered in in the follow-up. The price of the industry as a whole has declined.

In the list of pure electric vehicles, the top three pure electric models are Model X, Model S and Xilai ET5T;. The top three models are Porsche Taycan, Mercedes-Benz E-Star and BYD dolphin.

In the plug-in hybrid list, the top three annual preservation rates are Cayenne E-Hybrid, Tank 500New Energy and Tank 400New Energy respectively. In addition, Panamera E-Hybrid, LEC 08, ideal L8, ideal L9, ideal L7, Teng Teng D9 and Chuanqi E9 all enter the top 10; the top three models with three-year preservation rate are Cayenne E-Hybrid, Panamera E-Hybrid and 4xe, respectively.

At present, the preservation rate of cars is still one of the criteria for consumers to consider, especially in the second-hand car market and additional purchase, the vehicles with high preservation rate mean that the value of the vehicles in the second-hand car market is close to that of new cars, but the preservation rate is not the only standard for car selection, and the final purchase decision needs to be judged by integrating individual specific circumstances and needs.

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