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The value preservation rate of Chinese cars in November!

2024-07-14 Update From: AutoBeta NAV: AutoBeta > News >


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A few days ago, the China Automobile Circulation Association released the "Research report on China's Automobile value retention rate in November 2023".

According to the report, the value preservation rate of all classes of models increased differently in November, with the MPV model having the highest decline, falling 2.95 per cent to 62.3 per cent from 65.2 per cent in October. In addition, small cars, small SUV and medium and large SUV also showed a significant decline. On the other hand, the value preservation rate of cars has an obvious upward trend. The report pointed out: "the decline in the preservation rate of medium and large SUV and MPV is mainly affected by the release of new products."

Specific to the performance of the preservation rate of national brands, among the 13 luxury brands on the list in November, only BMW achieved month-on-month growth, with the preservation rate rising from 63.3% to 63.8%. The preservation rates of Porsche and Lexus fell 1.0% and 1.8% respectively, while Mercedes-Benz and Audi fell 1.2% and 0.8% respectively. As for the reason why the BMW brand preservation rate can rise against the trend, the report explained: "it is mainly due to the replacement of the main models such as the 3 Series and 5 Series." the voice of independent brands is higher in Guangzhou auto show, but BMW's electric car products are still being updated and are not lagging behind. BMW electrified is the fastest among luxury brands and has a leading position. " In addition to the above five car companies, Lincoln, Land Rover, Tesla, Acura and Infiniti also have varying degrees of month-on-month growth.

In terms of joint venture brands, the top two are still Japanese brands Toyota and Honda, but Toyota's three-year preservation rate fell 0.6% month-on-month, while Honda increased 1.0% to 67.3%. Jeep, which ranked third, also showed a significant increase, rising from 60.0% in October to 62.6%, an increase of 2.6%. Volkswagen increased by 0.6% month-on-month. It is worth mentioning that Volkswagen's value preservation rate has increased continuously in recent months, due to Volkswagen's continuous efforts at the end of the new energy market, showing "oil and electricity flying together", which plays an important role in the stability of brand value preservation rate. Judging from the 15 car companies on the list, in addition to Honda and Volkswagen, including Nissan, Peugeot, Chevrolet and Citroen also increased to varying degrees.

Let's take a look at independent brands. In November, the three-year preservation rate of independent brands showed a slight downward trend. From a breakdown point of view, Chuanqi is still at the top of the list. After surpassing Wuling in January this year, its preservation rate has remained first, rising 0.1% to 64.4% month-on-month in November. Wuling, which ranked second, fell 0.1 per cent to 61.4 per cent from the previous month. Changan, Lecker and Harvard respectively ranked third to fifth in the list, of which Lectra's three-year preservation rate fell 0.2 per cent from the previous month. Harvard's ranking rose to fifth place from 6th in October, and Changan Auchan also improved the ranking of preservation rate, which rose to 52.4% from 51.1% in October. While the original ideal ranking fell to No. 6, the report pointed out: "the decline in the ideal preservation rate is related to the preferential promotion of terminal prices, and the decline in new car prices will reduce the market demand and prices of used cars."

Finally, let's take a look at the field of new energy vehicles. At present, the overall permeability of new energy vehicles is gradually increasing, and the value preservation rate of new energy second-hand vehicles has also increased. According to the type of power, the preservation rate of pure electric models in three years is 52.7%, up 2.2% from the previous month, mainly because the price increase of Tesla's new car has led to a rise in the price of used cars. By contrast, the three-year value preservation rate of plug-in hybrid models declined slightly, from 54.3% in October to 53.8%. The reason is also related to the price of new cars. "the value preservation rate of plug-in hybrid vehicles has declined slightly, mainly related to the preferential promotion of new cars," the report said. the growth rate of the new energy vehicle market slows down, and the terminal sales pressure is greater. "

The China Automobile Circulation Association pointed out in its report that the supply of used cars increased in November, and the increase exceeded expectations, mainly due to seasonal factors. Manufacturers have recently launched a lot of marketing activities, which have stimulated demand for replacement. coupled with the low base last year, there was a big year-on-year increase this month.

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