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According to data from the Federation of passengers, sales in the domestic narrow passenger car market in May were 1.582 million, down 12.5% from a year earlier, down 12.5% from January to May, down 11.9% from a year earlier. The "cold wave" of China's auto market has not receded, and the sales of most brands are still declining, but second-tier luxury brands have achieved good results, and the car market has formed a clear division. Cadillac is firmly in the top spot in sales of second-tier luxury brands in May. According to statistics from the Federation of passengers, Cadillac sold 20587 new cars in May, an increase of 18.9% over the same period last year and 21.2% month-on-month.
Despite the unprecedented COVID-19 epidemic in 2020, which has had a great impact on the domestic passenger car market, luxury brands still maintain a high growth trend, whether first-tier or second-tier luxury brands have repeatedly reached new highs. Among them, Lexus has been ahead of Cadillac for many months since 2020, but Cadillac set an all-time record in the last month. According to the latest official Cadillac results, Cadillac sales reached 27524 in December 2020, a year-on-year increase of 55.9%, a result that Cadillac has continued to soar since the second half of the year. So that the brand accumulates throughout the year.
With the continued counter-trend growth of the luxury car market, the overall pattern of brand differentiation is also further highlighted, which can better reflect the reality in the second-tier luxury field. Gone are the days when Cadillac continued to lose its second-tier crown and held the top spot for many years in 2020. At the same time, Lexus officially topped the list of second-tier luxury. Cadillac has always had a stable market position, but since 2019, Cadillac has been repeatedly pressed by Lexus brands behind it, and only after Cadillac started a crazy "price for volume" did Cadillac continue to take the lead by a small margin. Annual sales of Cadillac in 2019 were 21.
Car sales in the first quarter were 3.672 million, down 42.4 per cent from a year earlier, according to the China Automobile Association. Affected by the epidemic, there is a great downward pressure on the domestic car market in the first quarter of 2020. in this context, although luxury brands outperform the overall market, the downward trend is still inevitable. Collate the data to get the ranking of luxury brands in China in the first quarter. According to the ranking, Mercedes-Benz (including Smart brand) won the championship with 136189 vehicles, while BMW (including MINI brand) was 9907 vehicles behind Mercedes-Benz, temporarily ranking second with 126282 vehicles. In addition, Tesla Cheng.
The luxury car market continues to grow rapidly, and the sales of several brands have soared and ushered in historical highs, which has once again become a major breakthrough in the automobile market this year. Luxury cars rose 86 per cent year-on-year in March, 60 per cent in February and 51 per cent in March 2019, according to the Federation of passengers. Reflects the luxury cars continue to maintain strong growth characteristics, consumer upgrading of high-end exchange demand is still strong.
After months of cold wave in the car market, the market warmed up at the end of September. After the National Day, various car companies have announced sales performance to show product strength, in September this year, many independent brands or joint venture brands have increased to varying degrees, luxury brands that have been growing against the trend for several months will not miss the opportunity. As the major luxury brands announced their sales results in September, the specific rankings were also released. Among second-tier luxury brands, Cadillac is still the top seller in the previous September, surpassing Lexus to regain the top spot this month, even though Lexus has soared for many months. Among the second-tier brands, only Cadillac.
The first month of the New year has just passed, and the Red Flag brand will make it easier to announce a piece of good news on its official Wechat account on the evening of the 31st. In January 2021, the overall sales of the Red Flag brand exceeded 32500 vehicles, an increase of 158% over the same period last year, setting another all-time high. This also reflects that Red Flag continues to maintain a strong trend after achieving an annual sales growth of 100% in 2020.
Recently, domestic car companies are experiencing an unprecedented "price war", the major car companies "subsidy price reduction" information is everywhere, "price reduction tide" has become a key word in the automobile industry. According to incomplete statistics, so far, at least 40 car brands have participated through subsidies from manufacturers or price cuts by dealers. "
Since the domestic automobile market has gradually entered high-end China, the sales competition between luxury brands has also become a concern in the industry. Especially since 2020, the Cadillac brand, which has maintained the crown of the second-tier luxury brand, has continued to decline, and has even been surpassed by the domestic independent new red flag brand.
After months of shock from the COVID-19 epidemic, China's auto market has finally rebounded steadily under the control of the epidemic, as well as according to the latest sales figures released by a number of car companies recently. Among them, models as luxury brands performed more strongly, with year-on-year growth from the announced Lexus, Cadillac and Volvo brands.
In 2020, the ranking of luxury brand sales has changed greatly, and the polarization has been further highlighted. Cadillac, which is firmly at the top of the second tier, was temporarily lost to Lexus after its sales fluctuated in 2020. However, Cadillac has rebounded as it hits its annual goals and rankings. Cadillac sold a total of 25316 cars in October, up 81 per cent from a year earlier and the biggest increase of the year, according to the latest official figures. Meanwhile, Cadillac sold 178176 vehicles from January to October, roughly the same as the same period last year. It is worth noting that.
With the advent of August, major car companies have also begun to announce sales. The front-line camp is glued to each other, and the competition between the second-line camp is even more difficult to distinguish between you and me. Affected by the slowdown in macro-economic growth, the switching of the five countries and six standards and other factors, the auto market remains depressed, and the July sales data released by a number of car companies show that they have all suffered varying degrees of decline. According to July passenger car production and sales data released by the Federation of passengers, sales of narrow passenger cars in July were about 1.4854 million, down 15.9 per cent from the previous month and 5 per cent from the same period last year. Wholesale sales of narrow passenger vehicles nationwide were 1.527 million, down 2.6 per cent from the same period last year. The trend of the downturn is still untwisted.
Coincides with the "Golden Nine" traditional peak season, September passenger cars still maintain a growing trend, in which the luxury car market continues to be stronger, a number of brands have achieved a sharp rise in the same month compared with the same period last year. The luxury car market grew 33% in September from a year earlier, up 5% from July, and its market share remained at an all-time high of about 15%, according to a report by the federation of passengers.
Since the beginning of May, with the domestic car market achieving the first positive wholesale growth after 22 months, a number of car companies have taken the lead in releasing the latest sales figures at the beginning of the month to prove this month's "good results". But Lexus, which has always been active in the past, seems to be a little different from the results announced in May, with the latest sales officially released half a month later.
According to the latest statistics of the Federation of passengers, the domestic narrow-sense passenger car market sold 1.661 million vehicles in June, which rebounded further from May. Among them, the luxury car market performed brightly, with retail sales rising 27% in June from a year earlier, with a market share reaching an all-time high of 14.9%. Cui Dongshu, the passenger association, said that the rise in sales in the luxury car market was mainly due to the demand for high-end swaps and the price drop brought about by the new promotional discounts on luxury cars. According to the luxury car sales list released by the Federation, there were more than 10,000 luxury cars sold in June, achieving year-on-year growth. Mercedes-Benz, BMW, Audi, three first-tier luxury car brands accounted for the main sales.
According to the official release of Volvo Automobile Group, Volvo sold 615121 vehicles worldwide in 2022, down 12.0% from the same period last year, including 727663 in December 2022, up 12.8% from the same period last year. Chinese mainland is Volvo's largest single market in the world.
The luxury car market continues to grow rapidly, and the sales of many brands have risen sharply and ushered in historical highs, which has become a major breakthrough in the automobile market this year. Luxury car retail sales rose 33% year-on-year in September, double-digit growth for many months in a row, and market share remained at around 15%, according to the federation of passengers. The demand for high-end cars brought about by consumer upgrading, as well as the increasing competition for luxury cars, have led to a continuous decline in prices, further expanding the consumer market covered by luxury cars. Under such circumstances, the luxury car market continued to prosper in October, with mainstream luxury brands rising sharply collectively. In the past October, the growth of second-tier luxury brands is more obvious, including Cady.
Just after October, FAW Hongqi brand took the lead in publishing the sales report and became the first brand to release sales. The fact that Red Flag is so keen to announce sales first may have something to do with its brilliant sales performance. October data show that Red Flag has exceeded 20,000 for three months in a row. FAW Hongqi officially sold 23000 units in October, up 93% from a year earlier, and has sold more than 20, 000 units for three months in a row. From January to October, the cumulative sales of the Red Flag brand was 153000, an increase of 103 per cent over the same period last year. Red Flag has set a sales target of 200000 units this year, and has now achieved 76.5% of the target, with the remaining two.
With the acceleration of consumption upgrading in the domestic automobile market, luxury brands have maintained a high growth trend in the first half of the year, even after the impact of the COVID-19 epidemic. After three consecutive months of year-on-year growth after March, the traditional off-season market still maintained a growth rate of nearly 30 per cent in July.
Speaking of high-end models than BBA and various multinational luxury brands, Hongqi brand, as a famous brand in domestic independent car enterprises, has become a "member" of China's high-end model market through various marketing. A few days ago, the Red Flag brand was the first to release the latest August sales figures, which showed that Red Flag sold 21000 vehicles in August, up 110% from a year earlier.
Heavy! The National Development and Reform Commission plans to relax car purchase restrictions and increase license plate indicators in an all-round way
China's car sales continue to decline and the trend of car consumption is gradually declining. in such an environment, the National Development and Reform Commission is expected to guide further liberalization of the purchase restriction policy and comprehensively encourage automobile consumption. According to the online documents, the National Development and Reform Commission issued the implementation Plan for promoting the Renewal of consumption of Automobile, Home Appliances and Consumer Electronics to promote the Development of Circular economy (2019-2020), which plans to further expand the consumer market such as automobiles, promote the development of circular economy, and deepen supply-side structural reform. The document also describes in detail the specific implementation plan, and there are nine supporting regulations in the automotive field. The most important of these is the purchase restriction city.
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