Automobile industry

In 2020, China’s retail sales of luxury cars will reach 3.46 million, with a year-on-year growth of 11.4% From China Automobile Circulation Association

The following is the In 2020, China’s retail sales of luxury cars will reach 3.46 million, with a year-on-year growth of 11.4% From China Automobile Circulation Association recommended by recordtrend.com. And this article belongs to the classification: Automobile industry.

In 2020, based on the statistical dimension of insurance data, the sales volume of domestic luxury car retail market is 3.236 million, with a year-on-year growth of 6.5%, accounting for 16.2% of the total sales volume of passenger cars. Among them, the sales volume of 14 traditional fuel vehicle luxury brands (accounting for 99.8%) was 3.23 million, with a year-on-year growth of 6.5%; the annual sales volume of super luxury brands was 6100, with a year-on-year growth of 15%. If the sales volume of Tesla, Weilai and ideal electric vehicle brands are included, the overall sales volume of luxury vehicle market is more than 3.46 million, with a year-on-year growth of 11.4% and a market share of 17.4%. Among them, the total sales volume of luxury brand new energy vehicles is 285000, with a year-on-year growth of 196% and a sales share of 8.2%. Among the luxury brand new energy models, Tesla, Weilai and ideal sold more than 225000 vehicles, with a year-on-year growth of 233%, and an increase of 157000 vehicles, accounting for 6.5%; if the sales of Weilai and ideal are removed, the sales of luxury car market (including Tesla) is 3.38 million vehicles, with a year-on-year growth of 9.8%.

Sales of passenger cars and luxury cars (unit: 10000)

▍ sales promotion of luxury cars drives new car sales profit of luxury car dealers to a new high

In 2020, the increase of sales volume of new luxury cars has also led to the increase of sales profit of dealers. Since the third quarter, the profit of dealers has improved. The main reason is that manufacturers give targeted support to dealers during the epidemic period and provide dealers with best-selling new car resources. For example, Porsche provides dealers with cars such as the cayenne and 911 with large consumer demand; Audi provides dealers with cars such as Audi A6L and q5l; manufacturers provide financial support for dealers to reduce dealers’ inventory; local governments reduce taxes and burdens for enterprises during the epidemic period; dealers also continuously optimize operation management and reduce cost support.

From the perspective of dealers’ profits in the third quarter and the fourth quarter of 2020, dealers’ new car sales profits have been better than in previous years; excluding derivatives sales, Volvo dealers have made 1.5-2 points of profits in new car sales by the end of the year, and dealers have lost more than one point or more in the same period of 2019; Porsche and Lexus have sold their best-selling models at a premium in November and December 2020, and they are in East China and China The new car profit of dealers in southern China and other regions can reach about 7 points, which is more than 2 points higher than that in the same period of last year. In 2020, Lincoln will have two domestic SUV models on the market, which will bring more new car sales profit to dealers. The new car sales profit of Lincoln dealers is about 5 points, which is more than 2 points higher than that of last year.

The new car sales profit of Jaguar and Land Rover dealers has turned positive, including derivatives and after-sales, dealers have begun to make profits. 2021 is the complete sales year of best-selling new car guards, and it is expected that dealers’ profits will further increase; Mercedes Benz and BMW dealers’ new car profits will increase by 1-2 points compared with the same period last year; Audi dealers’ new car sales will lose more than 4 points in 2019 to about 0.5 points in 2020 On the right, the loss has been greatly improved; however, there are also brands with increased losses. Cadillac dealers’ new car sales will lose 1.5 points in 2019 to 3 points in 2020, and Cadillac’s sales plan will increase by 15% in 2021. The dealers’ willingness is not strong, and the growth is difficult.

▍ new energy vehicles have not run on the existing models of luxury cars for the time being

With the expansion of the segment market driven by the growth of luxury car market, this segment market used to be occupied by second-line luxury brands or personalized models, but now it has gradually evolved into electric vehicles. In 2020, the sales volume of Tesla, Weilai and ideal will be equivalent to the annual sales volume of Lexus. As more luxury brands launch electric vehicles, this market segment will continue to maintain rapid growth. The rapid growth of electric vehicle sales in 2020 will not have much impact on the price of luxury car market. The new car sales profit of luxury car dealers is also growing, which is better than in previous years. Dealer derivative and after-sales service are also important parts of the profit, which will be less impacted. In 2020, the price range of luxury cars meets the needs of some consumers, especially the car buyers in cities with limited purchase and transportation. With Tesla Model y made in China, the sales volume of medium-sized SUV segment will be further improved, and the sales volume of traditional luxury brands in this segment will be impacted due to the lack of product power.

▍ luxury cars are expected to maintain a growth rate of about 10% in 2021, and new energy vehicles are expected to increase by more than 100%

In 2020, domestic automobile consumption will pick up. According to the data of the National Bureau of statistics, the annual total automobile consumption was 3.9414 trillion, a year-on-year decrease of 1.8%; in 2020, the domestic passenger car retail market sales volume was 1.942 million, a year-on-year decrease of 7.7%; the retail sales volume of new energy vehicles reached 1.14 million, a year-on-year increase of 41%, with an increase of 330000. The effective sales date in 2021 is one month more than that in 2020. Due to the New Year holiday in February 2020 and epidemic factors, the monthly sales volume of luxury cars is only 34000. Many luxury car companies have included this factor in the sales plan of 2021. The sales volume of traditional fuel luxury brands is expected to maintain a growth rate of about 10% in 2021, and the sales volume of new energy vehicles in the price range of luxury brands is expected to achieve a growth rate of about 100% – 200% Growth.

Sales volume of luxury brand new energy and year on year (unit: 10000 vehicles)

▍ in 2020, sales of Japanese brands will decline the least, while domestic brands will decline the most

In 2020, the retail sales of Japanese brands in the passenger car market will be 4.98 million, a year-on-year decrease of 1%; that of German brands will be 5.36 million, a year-on-year decrease of 7%; that of American brands will be 1.88 million, a year-on-year decrease of 2.5%; that of American brands will be 8% if Tesla is removed; that of Korean brands will be 720000, a year-on-year decrease of 28%; that of French brands will be 54000 , a year-on-year decrease of 64%; the retail sales of European brands outside the legal system were 280000, a year-on-year decrease of 0.5%.

In addition, the annual retail sales of independent brands were 6.67 million, a year-on-year decrease of 10%, and a decrease of nearly 780000 compared with last year. The brands with more sales declines were: Baojun decreased by 260000 compared with last year, Geely decreased by 180000, GAC motor decreased by 110000, Beijing brand and Roewe decreased by more than 80000, and mingjue, Wuling, Qichen and BYD decreased by more than 40000 compared with the same period last year. In 2020, due to the impact of the epidemic, the economic income of the user groups of independent brands will be greatly affected, and the number of car purchasing user groups will also be relatively reduced. In the same period, Germany and Japan launched a large number of new cars in the compact level, which also occupied part of the market share of independent brands.

Overview of year-on-year decline in sales volume of brand series (unit: 10000 vehicles)

▍ the luxury market was suppressed first and then increased, the sales volume of first-line brands was stable, and the competition of second-line brands was fierce

Affected by the epidemic situation in 2020, the monthly sales volume of passenger car market in the first half of the year will maintain negative growth, and the cumulative sales volume from January to June will be 789000 units, a year-on-year decline of 27%. In the second half of the year, with the improvement of the economy, automobile consumption rebounded, and the cumulative sales volume from July to December was 1.205 million, a year-on-year increase of 12%. The sales of luxury car market only declined in the first quarter when the epidemic situation was the most serious. From April, the overall market began to improve. Except for June, it maintained a double-digit growth, with a growth rate of more than 20% from July to November, and the sales volume in December reached 369000, a new high in the year. From the improvement time node, the luxury car market was one quarter ahead of the overall passenger car market. However, in 2021, the first quarter will face the consumption overdraft in the fourth quarter of 2020. In the national policy level, there will be less policy stimulus to the automobile market. In addition, some regions will be affected by the epidemic situation and other factors. The market may not start very well. This needs the attention of automobile enterprises, controlling the wholesale rhythm, paying attention to the inventory of dealers, and stabilizing the retail market price.

In terms of insurance data, the sales volume of first-line luxury brands in 2020 is relatively stable, with a growth rate of more than 5%. Among them, the sales volume of Mercedes Benz (including V-Class) is 781000, with a year-on-year growth of 9.1%, that of BMW is 759000, with a year-on-year growth of 5.9%, and that of Audi is 732000, with a year-on-year growth of 6.7%.

Year on year sales of luxury brands (unit: 10000 vehicles)

Among the second tier luxury brands, Lexus ranked fourth in the sales volume of luxury cars with a growth rate of 17.4% of 235000 vehicles; driven by the sales volume of two domestic new cars, Lincoln’s annual sales volume exceeded 62000 vehicles, achieving a sales growth of 27.8%.

Among the super luxury brands, Bentley sold 3200 vehicles in the whole year, with a year-on-year increase of 44%, of which Tianyue accounted for 50%; Rolls Royce sold 1146 vehicles, with a year-on-year increase of 6.6%, of which Surinam accounted for 59%. Super luxury brands are more dependent on large SUV models. Except for Ferrari, the delivery of super luxury brands in 2020 will get rid of the influence of G6.

▍ in 2020, the sales volume of sports cars will grow fastest, and the SUV segment will maintain double-digit growth

In 2020, the fastest-growing segment is the sports car segment, with annual sales of 34000 vehicles, a year-on-year growth of 24%. Especially after the third quarter, the Porsche 911 Boxster, BMW 2-Series convertible, Z4, 4-series, Audi A5, etc. are welcomed by the market. After the expansion of luxury car market, the demand of consumption upgrading and personalized segmentation market is also expanding. The segment with the largest sales volume is still the luxury car segment. In 2020, the sales volume will reach 1.8 million units, with a year-on-year growth of 7.5%; the SUV segment will grow by 13% to 1.53 million units; another relatively small segment is MPV. Lexus LM will sell 3200 units throughout the year. Although the sales volume is small, the sales quality is very good. The average transaction price is 1.87 million units, and the sales premium is as high as 42% France (weilfa) sold as many as 23000 vehicles.

Sales volume and year-on-year situation of luxury brand segments (unit: 10000 vehicles)

▍ pure electric luxury car segment market will maintain rapid growth

If the sales of luxury brands are included in the sales of Weilai, ideal and Tesla, the sales of pure electric vehicles will exceed 200000 in 2020, with a year-on-year increase of 200%; plug-in electric vehicles will increase by 72% to 46000; fuel vehicles will increase by 8% to 3080000; pure electric vehicles and plug-in electric vehicles are the fastest growing market segments.

In 2020, East China is the largest region of luxury car sales, with annual sales of 1.51 million luxury cars, a year-on-year increase of 12%; South China’s sales increase of 7.7% to 480000. Shanghai is the city with the largest sales volume of luxury cars in 2020, with a year-on-year growth of 19.5% to 217000, and the sales volume of Mercedes Benz, BMW, Tesla, Audi and Cadillac ranks the first; Beijing has been affected by the epidemic for a long time, with annual sales volume of 169000, with a year-on-year growth of 3.6%. The best-selling brands are Mercedes Benz, BMW, Audi, Tesla, Volvo and Lexus.

Sales volume and year-on-year comparison of different cities and regions (unit: 10000 vehicles)

Mercedes Benz

In 2020, the official sales data of Mercedes Benz (including V-Class) will be 774000 vehicles, with a year-on-year growth of 11.7%. According to insurance statistics, the sales volume of Mercedes Benz (including V-Class) reached 781000, a year-on-year increase of 9.1%. Among them, Mercedes Benz sold 448000 cars, up 3% year on year, SUV sold 306000 cars, up 22% year on year, domestic models sold 626000 cars, up 8% year on year, and imported models sold 155000 cars, up 12.5% year on year. In the fourth quarter, Mercedes Benz sold 208000 vehicles in China, up 18% year on year. In 2020, the average transaction price of Mercedes Benz brand was 465000 yuan, up 3000 yuan compared with the same period last year. The new car sales profit of Mercedes Benz dealers will be more than one point higher than that in 2019. If the dealers hold G-class and Maybach licenses, and the 4S stores are located in East China, South China and other regions, the dealers’ profit will be more improved. In 2021, the sales volume of Mercedes Benz brand is expected to reach 850000.

Mercedes Benz brand sales and year-on-year situation (unit: 10000 vehicles)

In 2020, the total sales volume of three domestic models of Benz GLC, E-class and C-class will be 470000, accounting for 60% of the total sales volume of Benz. Among them, GLC sold 165000 vehicles, with a year-on-year growth of 16%; the sales volume of E-class mid-term replacement was affected to a certain extent, and the annual sales volume was 154000 vehicles, with a year-on-year decline of 2.5%; C-class products will usher in a new replacement in 2021, with an annual sales volume of 152000 vehicles, with a year-on-year decline of 6%. In 2020, the total sales volume of domestic compact models of Mercedes Benz a, gla and GLB will be 135000, accounting for 17%. The compact models are also the growth point of sales volume of Mercedes Benz in 2021.

BMW

In 2020, the official sales data of BMW (including mini) is 777000 vehicles, with a year-on-year growth of 7.4%. According to insurance statistics, the sales volume of BMW brand was 759000 vehicles, with a year-on-year growth of 5.9%. Among them, 419000 BMW cars, 330000 SUVs, 604000 domestic cars and 154000 imported cars were sold, with a year-on-year growth of 3%, 9%, 11% and 10% respectively, which was mainly caused by the domestic BMW x2. The annual sales volume of mini brand was 30000, a year-on-year decrease of 12%, mainly due to the replacement of main sales models. In the fourth quarter, BMW sold 207000 vehicles in China, up 3% year on year. In 2020, the average transaction price of BMW brand was 405000 yuan, up 12000 yuan compared with the same period last year. The new car sales profit of BMW dealers in 2020 will be nearly two points higher than that in 2019; the sales volume of BMW brand is expected to reach 840000 in 2021.

BMW brand sales and year-on-year situation (unit: 10000 vehicles)

Audi

In 2020, Audi’s official sales data is 726000 vehicles, a year-on-year increase of 5.4%. According to insurance statistics, Audi’s sales reached 732000 vehicles, a year-on-year increase of 6.7%. Among them, Audi sold 438000 cars, up 4% year on year; SUV sold 292000 cars, up 11% year on year; domestic sold 675000 cars, up 8% year on year; imported 57000 cars, down 3% year on year. Audi sold 218000 vehicles in the fourth quarter, up 9% year on year. In 2020, the average transaction price of Audi brand was 315000 yuan, up 11000 yuan compared with the same period of last year; the profit of dealers was also the best year, with a slight loss of 0.5% in new car sales, which was nearly four points less than that in previous years. The sales volume of Audi brand is expected to reach 800000 in 2021.

Audi brand sales and year-on-year situation (unit: 10000 vehicles)

Cadillac

In 2020, Cadillac’s official sales figures are 230000 vehicles, up 8.2% year on year. According to insurance statistics, Cadillac’s sales reached 227000 vehicles, up 6% year on year. Among them, the sales of Cadillac brand cars were 79500, a year-on-year decrease of 25%; the sales of SUV models were 147600, a year-on-year increase of 36%; the sales of domestic models were 227000, a year-on-year increase of 6%; the sales of imported models were 92, a year-on-year decrease of 6%. Cadillac sold 80000 vehicles in the fourth quarter, up 62% year on year. In 2020, the average transaction price of Cadillac brand was 289000 yuan, up 4000 yuan compared with the same period last year. Due to inadequate subsidies, Cadillac dealers lost nearly three points in new cars, which is also the brand with the most losses among luxury brands; in 2021, Cadillac brand sales plan to sell 260000 cars.

Cadillac brand sales and year-on-year situation (unit: 10000 vehicles)

In the first half of 2020, Cadillac will limit the invoice price of dealers to increase the retail price. Due to the difficulty of sales, Cadillac dealers once pasted all the sales revenue of derivative business to customers in order to sell new cars. After the manufacturers see that the terminal retail price is stable, they will no longer subsidize the dealers. After August 2020, in order to catch up with the lost sales volume, Cadillac will no longer control the invoice price, and the terminal retail price will drop significantly. In September, the brand discount will increase by 2 points, which will aggravate the loss of dealers. Cadillac needs to further improve the profitability of new car dealers in 2021.

Lexus

In 2020, insurance statistics show that the sales volume of Lexus will reach 235000, a year-on-year increase of 17.4%. Among them, 126000 Lexus brand cars were sold, with a year-on-year increase of 18%; 106000 SUV models were sold, with a year-on-year increase of 13%. In the fourth quarter, Lexus sold 73000 vehicles in China, up 30.5% year on year. In 2020, the average transaction price of Lexus brand is 423000 yuan. Lexus plans to sell 250000 new cars in 2021. Lexus doesn’t have many new cars in 2021, mainly selling existing models, and NX’s replacement models are expected to be launched at the end of 2021.

Sales volume and year-on-year situation of Lexus brand (unit: 10000 vehicles)

Volvo

In 2020, Volvo’s official sales data is 166000 vehicles, a year-on-year increase of 7.6%. According to insurance statistics, Volvo’s sales reached 171000 vehicles, up 9.7% year on year. Among them, Volvo sold 66000 cars, up 2% year on year; SUV sold 105000 cars, up 15% year on year; domestic sold 150000 cars, up 15% year on year; imported 21000 cars, down 17% year on year. In the fourth quarter, Volvo sold 55000 vehicles in China, up 23% year on year. In 2020, the average transaction price of Volvo brand is 330000 yuan. Volvo brand sales are expected to reach 200000 in 2021.

Volvo brand sales volume and year-on-year situation (unit: 10000 vehicles)

In 2020, Volvo will add 30 new stores, with a total of 263 outlets. At the same time, Volvo is also the first brand to provide support for dealers at the beginning of the epidemic in 2020. In 2020, the gross profit of new cars of Volvo dealers will improve, reaching 1.5-2 points in the second half of the year, mainly due to the profit changes brought about by the sales promotion of domestic new cars S60, XC60 and XC90.

[] Jaguar Land Rover

According to the statistics of insurance data in 2020, the sales volume of Land Rover is 73000 vehicles, a year-on-year decrease of 3.6%, and that of Jaguar is 25000 vehicles, a year-on-year decrease of 13.6%. In the fourth quarter, Land Rover sold 26000 vehicles in China, up 20% year on year, and Jaguar sold 8000 vehicles, up 65% year on year. In 2020, the profit of new car sales of Jaguar Land Rover dealers has become positive, which has also reached a new high in recent years.

Porsche

In 2020, the official sales volume of Porsche is 87000, up 2.6% year on year. According to insurance statistics, the sales volume of Porsche reached 88000, which was the same as that of the same period last year. Among them, the sales volume of Porsche brand cars was 15000, a year-on-year increase of 16%; the sales volume of SUV models was 64000, a year-on-year decrease of 6%; the sales volume of sports cars was 9500, a year-on-year increase of 33%; the sales volume of Porsche in China in the fourth quarter was 26000, a year-on-year increase of 9%. The sales volume of Porsche brand is expected to reach 100000 in 2021. In May, the new car discount of the best-selling car Carlton was close to 6 points. With the increase of market demand, there was no discount on the sales of existing cars by the end of the year. The sales trend of the 718, 911, palamella and other models of Porsche also remained the same.

Sales volume and year-on-year situation of Porsche brand (unit: 10000 vehicles)

Lincoln

In 2020, Lincoln’s official sales data is 62000 vehicles, a year-on-year increase of 32%. According to insurance statistics, Lincoln’s sales volume reached 63000 units, a year-on-year increase of 6.7%; among them, the sales volume of Lincoln brand cars was 9500 units, a year-on-year decrease of 52%; the sales volume of SUV models was 53000 units, a year-on-year increase of 81%; the sales volume of domestic models was 40000 units; the sales volume of imported models was 23000 units, a year-on-year decrease of 52%. In the fourth quarter, Lincoln sold 23000 vehicles in China, up 79% year on year. In 2020, the average transaction price of Lincoln brand is 396000 yuan. The sales volume of Lincoln brand is expected to reach 80000 in 2021. Lincoln dealers in 2020 new car sales profit about 5 points, due to more sales, the total profit is better than in previous years.

Sales volume and year-on-year situation of Lincoln brand (unit: 10000 vehicles)

Infiniti

According to the statistics of insurance data in 2020, the sales volume of Infiniti is 29000 vehicles, a year-on-year decrease of 33%.

Martha Ratti

According to the statistics of insurance data in 2020, the sales volume of Maserati is 4800 vehicles, a year-on-year decrease of 34%.

Praise

According to the statistics of insurance data in 2020, the sales volume of Acura is 12000 vehicles, a year-on-year decrease of 22%.

Super luxury brand

According to the statistics of insurance data, the sales volume of super luxury car brands in 2020 will be 6000, with a year-on-year growth of 15%.

In 2020, Rolls Royce’s sales volume will be 1146, up 6.6% year on year.

In 2020, Bentley will sell 3201 vehicles, up 44% year on year.

In 2020, Ferrari will sell 293 cars, down 49% year on year.

In 2020, the sales volume of Lamborghini will be 671, with a year-on-year growth of 7%.

In 2020, Aston Martin’s sales volume will be 431, a year-on-year decrease of 4%.

In 2020, McLaren will sell 310 vehicles, up 18% year on year.

Electric vehicles

In 2020, Tesla will sell 147000 vehicles, a year-on-year increase of 225%.

In 2020, Weilai’s sales volume will be 43000 vehicles, a year-on-year increase of 109%.

In 2020, the ideal sales volume is 33000 vehicles, with a year-on-year growth of 2508%. China Automobile Circulation Association: in 2020, the sales volume of China’s luxury car retail market will be 3.46 million, with a year-on-year growth of 11.4%. China Automobile Circulation Association: in the first quarter of 2020, there will be 57 new authorized 4S stores for luxury brands 41 online 4S stores: China Automobile Circulation Association: retail sales of Q1 luxury cars will reach 689000 in 2019, with a year-on-year growth of 4%. China Automobile Circulation Association: monthly report of China’s imported automobile market in April 2020 China Automobile Circulation Association: Sales of domestic narrow passenger car market will reach 1045000 in March 2020 China Automobile Circulation Association: pick up market analysis in June 2020 China Automobile Circulation Association: national passenger car market analysis in June 2020 China Automobile Circulation Association: automobile market and user insight report in the first half of 2020 China Automobile Circulation Association: China imported automobile in October 2020 China Automobile Circulation Association: Automobile market insight and price monthly report in September 2020 China Automobile Circulation Association: automobile consumption index in September 2020 is 77.8 China Automobile Circulation Association: inventory early warning index of automobile dealers in May 2020 China Automobile Circulation Association: sales analysis report of passenger car market in Shaanxi Province from January to April 2020 China Automobile Circulation Association: Overview and form analysis of second hand car market

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