China Automobile Dealers Association: China Automobile Retention Value Report in October 2022

China Automobile Dealers Association: China Automobile Retention Value Report in October 2022
On November 1, 2022, the China Automobile Dealers Association and Jingzhengu jointly released the "China Automobile Retention Value Research Report in October 2022". The retention rate research aims to reflect the brand's comprehensive strength in terms of product strength, recognition, reputation, etc., and provide important data references for future repurchase, replacement, leasing, finance, new car pricing reference and other related businesses, thereby reducing business risks and improving operating efficiency.

Policy direction: Deepening “delegation, regulation and service”

Among the various measures, the "upward brand" of automobiles was mentioned for the first time. The connotation of "upward" includes both quality improvement and price increase. In particular, domestic brands need to be jointly nurtured by manufacturers, dealers, platforms, and media. The market share of domestic brands has increased significantly this year, and the improvement of quality and premium will be the direction of future efforts.

Hot Events - Extended Producer Responsibility for Automotive Products

According to the "Implementation Plan for the Pilot Program of Extended Producer Responsibility for Automotive Products" released last year, a number of benchmark enterprises will be established through the pilot program to form a replicable and popularizable model for the recycling of scrapped vehicles. The "Plan" sets quantifiable goals: by 2023, the comprehensive utilization rate of resources will reach 75%; the recycling rate of automobiles will reach 95%; and the proportion of recycled raw materials for key components will be no less than 5%. After integrating the value chain of automotive products, the recycling value of old cars has been significantly improved.

Changes in online vehicle supply volume: vehicle supply volume grew slightly month-on-month

Entering the fourth quarter, the consumption promotion measures remain strong, but stimulating new car consumption is obviously more important than second-hand car consumption. The number of consumers who buy for the first time and purchase additional cars during this period is significantly higher than that of replacement cars. The second-hand car market shows a temporary stagnation, and the increase in the number of cars is negligible. Price increases are the inevitable choice for car dealers to avoid losses.

Value retention rate of each level - SUV value retention rate has risen significantly

Fuel vehicles are still the mainstream of the used car market. Meanwhile, the traditional peak season of the used car market still exists, and the price increase trend of SUV is relatively obvious. The value retention rate of mid-sized sedans has declined, and these users usually change their cars to SUVs or mid-to-large cars of luxury brands. In the SUV market, the proportion of domestic brands has increased and become the mainstay. Although the macroeconomic growth has slowed down, large durable consumer goods such as automobiles have achieved consumption upgrades, and the transition from sedans to SUVs is proof of this.

Changes in the new energy vehicle market - "year-end promotion" for new energy vehicles

Tesla's proactive price cut has brought about a chain reaction. Independent brands such as Xiaopeng and Wenjie have generally lowered the prices of new cars, which obviously has a negative impact on the prices of used cars. However, the sales target at the end of the year clearly takes precedence over the price target. Faced with pressure, price cuts have become a necessary means for new energy manufacturers to achieve their goals. Among them, Tesla's production capacity bottleneck has been resolved, and changes in supply and demand are also one of the reasons why manufacturers have proactively adjusted prices. For other brands, upgrading models and launching new products is a better response plan.

Value retention rates of different types of new energy vehicles: Plug-in hybrid vehicles have seen a rise in value retention rates

Plug-in hybrid vehicles in Shanghai will no longer enjoy green license plates next year, leading to hot sales at the end of the year, and this trend has also spread to the used car market. In the pure electric vehicle market, each high-end, medium-end and low-end market segment has a benchmark product, which plays a positive role in stabilizing the price of the market segment. Tesla, BYD and Wuling all have stable residual value performance.

<<:  Omdia: Progress of major 5G markets in the third quarter of 2022

>>:  Double 11 air conditioner inventory: prices begin to cool down, and value rises

Recommend

Is there "fake milk" in supermarkets? ! This indicator is the most important when choosing the right milk!

Faced with the dazzling array of milk types on th...

Event promotion: Improve the conversion rate of offline activities?

This article will use offline activity cases to a...

Sharing practical experience in operating and promoting Xiaohongshu

As of January this year, Xiaohongshu has more tha...

Clearing the charts six times throughout the year is useless. How are you, App Store?

Although the App Store has always been a battlegr...

Super practical "The detours you must not take when making Douyin" The trader instructor teaches you the dry goods without reservation

Super practical! Don't take the detours when ...

Summary of common commands for Android ADB development

Adb is a very commonly used command for debugging...

Corruption behind the screen: Uncovering the profit chain and hidden rules of film and television drama purchase and sales

Crazy bribery, crazy purchase of dramas. A TV sta...

Fujifilm X-A1 parameters exposed: 16 million pixels, built-in Wi-Fi

[September 9 news] Recently, the Czech website fo...

In 2022, re-understand brand marketing!

"Corporate brand marketing and national bran...

Apple is going to fail in 2020? Cook: Let's see who earns more than me

In recent years, the most common voice in the tec...

Learn React in a simple way and master the knowledge links and underlying logic of React

Learn React in a simple and easy way, and master t...

4 principles and 4 risks of influencer brands

" Internet celebrity brand " is the mos...

How many steps are there to distinguish between "aviation" and "aerospace"?

Review expert: Qian Hang, aerospace science exper...

There are 360 ​​days in a year. Eating lychees every day is not a dream.

What would it be like to sequence the lychee geno...

Zhang Chaoyang: TV series are still the "staple food" of Sohu Video

January 30 (Reporter Zhang Zhichang) After the fu...