AutoBeta(AutoBeta.net)11/01 Report--

On November 1, the China Automobile Circulation Association released the Research report on the preservation rate of automobile value in China in October 2024. The so-called "car value preservation rate" refers to the ratio of the selling price to the original purchase price after the vehicle has been used for a period of time, which is one of the important indicators to measure the comprehensive level of the car ‌. Generally speaking, the vehicle with high value preservation rate means that the value of the car in the second-hand car market is close to that of the new car. However, 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.

Let's take a look at what changes have taken place in the preservation rate of cars in China in October 2024. First, let's take a look at the 3-year-old value preservation rate of each level. in October, the markets of small cars, compact cars, small SUV, compact SUV and medium-sized SUV all increased to varying degrees compared with September, of which the preservation rate of small cars in October was 55.8%, an increase of 0.7% compared with the previous month; compact cars, compact SUV and compact SUV all increased by 0.3% month-on-month; and medium-sized SUV increased by 0.2%. On the other hand, the medium-sized cars, medium-and large-sized cars, medium-and large-sized SUV and MPV markets showed month-on-month declines of 0.2%, 0.5%, 0.5% and 0.1%, respectively.

Specific to the performance of the preservation rate of national brands, the three-year age preservation rate of luxury brands generally declined in October, and the differentiation is obvious. In terms of subdivision, the top five car companies are Porsche, Mercedes-Benz, Land Rover, Lexus and Tesla. Among them, Porsche is the only brand with a preservation rate of 69.5%, up 0.5% from a month earlier, while the third-place Land Rover brand has the same preservation rate as in September, at 54.3%. The preservation rates of Mercedes-Benz, Lexus and Tesla were 58.0%, 54.1% and 52.5% respectively, down 0.6%, 0.9% and 0.6%, respectively.

Ranked sixth to 13th were BMW, Audi, Lincoln, Cadillac, Volvo, Acura, Jaguar and Infiniti. Among them, BMW grew 0.2% to 52.5%; Jaguar 0.7% to 42.4%; Audi 0.1% to 51.5%; Lincoln 0.7% to 41.4%; Cadillac 0.1% to 48.8%; Volvo 0.9% to 46.0%; Acura 0.1% to 44.0%. Infiniti fell 0.1 per cent to 37.9 per cent month-on-month, making it the only brand on the list with a preservation rate of less than 40 per cent.

In terms of joint venture brands, the top two on the October list were both Japanese brands, still Honda and Toyota, with a three-year preservation rate of 56.6% and 54.5% respectively, with the former down 0.3% from the previous month and the latter increasing by 0.9%. Toyota increased significantly in October, and fuel vehicles still account for the largest share, the report said. In addition, Mazda, which is also a Japanese brand, ranked fourth, with the preservation rate falling 0.6 per cent to 51.0 per cent from the previous month. Nissan and Mitsubishi ranked seventh and 12th respectively, with a preservation rate of 50.2 per cent and 45.5 per cent respectively.

In terms of other brands, Volkswagen and Buick entered the top five, with value preservation rates of 52.4% and 50.9% respectively, with month-on-month growth of 0.1% and 1.1% respectively. It can be seen from the data that Buick brands increased significantly in October, of which the GL8 model contributed the most. In addition to the above brands, Kia, Hyundai, Skoda, Ford, Jeep, Chevrolet, Citroen and Peugeot also appeared on the list, with Jeep falling 1.9 per cent to 46.7 per cent and Citroen up 1.9 per cent to 44.4 per cent.

In terms of independent brands, the value preservation rate of each brand decreased slightly in October. Among the subdivided brands, Chuanqi is still at the top of the list. After surpassing Wuling in January 2023, its preservation rate has remained first, with an October preservation rate of 57.9%, but a month-on-month decline of 0.4%. Followed by Wuling and Leike, the preservation rates in October were 52.4%, 52.0% and 51.9%, respectively. Outside the top five are Geely, Mingjue, Chery, Roewe, Auchan, BYD, Baojun, Red Flag, ideal, Pentium, among which BYD and Red Flag have improved.

Finally, let's take a look at the field of new energy vehicles. According to the type of power, the value preservation rate of plug-in hybrid models in three years is 45.9%, down 0.3% from 46.2% in September, and that of pure electric vehicles is 46.3%, down 0.5% from 46.8% in September. The report points out that under the blessing of "Golden Nine and Silver Ten", the new car and second-hand car markets have ushered in a peak season at the same time, in which the overall growth of the second-hand car market has also changed the situation in which there were only individual brands in circulation in the past. however, the preservation rate of new energy vehicles fell slightly in October compared with September.

Among the subdivided models, in the plug-in hybrid list, the top three models with one-year preservation rate are Cayenne E-Hybrid, tank 500 new energy, tank 400 new energy, in addition, including Panamera E-Hybrid, ideal L8, Teng Teng D9, ideal L7, ideal L9, Chuanqi ES9 and Lecke 08 all entered the top 10; the top three models with three-year preservation rate are Cayenne E-Hybrid, Panamera E-Hybrid and 4xe, respectively.

In the list of pure electric vehicles, the top three models with one-year preservation rate are Model X, Model S and ET5T, respectively. In addition, models including Seagull, Model 3, Bao Junyue, Xilai ES6, Lulai ET5, Polar Krypton 009 and Tengli D9 all enter the top 10; the top three models with three-year preservation rate are Porsche Taycan, BYD Dolphin and Mercedes-Benz E-Star.

The China Automobile Circulation Association pointed out in a report that the number of cars increased by double digits month-on-month in October, driven by the National Day holiday and replacement subsidies, the used car market was once again linked to the new car market, and a large number of replacement cars were released.

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