China Passenger Car Association: China Automobile Retention Value Report in May 2021

On June 1, 2021, the China Automobile Dealers Association and Jingzhengu jointly released the "China Automobile Retention Value Research Report in May 2021". The retention value 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: "National Consumption Promotion Month" is in full swing

In order to implement the strategy of expanding domestic demand, the "National Consumption Promotion Month" organized and implemented by the Ministry of Commerce arrived as scheduled in May. Local governments have shown their strengths, and automobile consumption is booming. The relevant person in charge of the Ministry of Commerce mentioned that this year's automobile consumption promotion activities focus on both urban and rural areas; focus on new energy vehicles, used cars and the aftermarket; focus on one-stop service; focus on the "online and offline integration", "purchase and use", and "sales experience integration" in the model. Specifically, Suzhou and Shanghai's "55 Shopping Festival" linkage, Nanjing's International Auto Show, are typical cases. Hainan held the first Consumers' Expo and realized the import of "zero tariff vehicles" this month. Beijing's new energy vehicle indicators have caused a "war for orders" among dealers.

Hot Events——Smart Cars Have Laws to Follow

The development of smart cars is accompanied by the collection of big data. The Regulations point out that the data collected by smart cars is also within the jurisdiction of the Cybersecurity Law of the People's Republic of China. The release of this regulation will benefit the industry, enterprises and consumers.

Changes in online vehicle supply: Second-hand vehicle supply resumes growth

Last year, May 2020 was the period of economic recovery after the epidemic, and the active consumption was still vivid in our memory. This year, the data has further improved. Some media have dispelled concerns that there may be a year-on-year decline in May. The effect of the "National Consumption Promotion Month" can be said to be immediate.

Value retention rate at each level - changes in supply and demand lead to price increases

The price of used cars is still linked to that of new cars. In most cases, changes in the price of means of production will not be passed on to consumers, but this year has accumulated a number of unfavorable factors such as "chip shortage", "steel shortage" and "copper shortage". Under the multiple superposition, manufacturers and dealers cannot bear all the burdens, so the market has seen some new car prices increase. The price of used cars is related to this.

In terms of demand, purchase restrictions in first-tier cities have been adjusted, releasing some demand. In addition, from a macro perspective, in the first year of the 14th Five-Year Plan, rural consumption capacity is very considerable, and automobile products are naturally the main products of bulk consumption.

Changes in the new energy vehicle market: battery swapping is gaining popularity

For a long time, insufficient infrastructure has been a pain point that restricts the consumption of new energy vehicles, and it is also one of the reasons why some consumers are torn between fuel vehicles and electric vehicles. Solving this problem requires the cooperation of all parties. For example, the models produced by various manufacturers must meet certain general standards; the energy department needs to cooperate to provide necessary power guarantees; the last step is to realize the commercial operation of charging and swapping stations, relying on market mechanisms to ultimately achieve a virtuous cycle. Among them, the pilot of swapping stations should first be carried out in areas with a high number of electric vehicles.

The value retention rate of different types of new energy vehicles - the overall value retention rate of new energy vehicles has rebounded

The three-year value retention rate of pure electric vehicles has exceeded 40%, reaching a high level in recent times, and the starting point of the price "curve" is expected to be reached in May-June. In particular, the acceptance of pure electric vehicles in Beijing has increased significantly.

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China Passenger Car Association: China Automobile Retention Value Report in May 2021

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