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The ranking of automobile value preservation rate was released in April.

2024-05-30 Update From: AutoBeta NAV: AutoBeta > News >


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On May 7, the China Automobile Circulation Association released the Research report on China's Automobile value retention rate in April 2024. The report includes the ranking of national brands, national models, all levels of models and the preservation rate of new energy vehicles. Let's take a look at the changes in the preservation rate of cars in China in April 2023.

In April, most of the preservation rates of all levels declined to varying degrees, and the decline was more obvious in small cars. The preservation rate of 3-year-old cars dropped from 63.7% in March to 62.7% in April, a decrease of 1.0%. In addition, including compact cars, medium-sized cars, small SUV, medium-sized SUV also showed a decline, falling by 0.1%, 0.2%, 0.2%, 0.5% respectively. In contrast, compact SUV, medium and large SUV and MPV showed significant increases, increasing by 0.3%, 0.8% and 0.7% respectively in April compared with the previous month.

Specific to the performance of the preservation rate of national brands, among the luxury brands, the top five car companies are Porsche, Mercedes-Benz, Lexus, BMW and Audi, of which Porsche is the only one with a preservation rate of 76.7%. Taken together, the hedging rates of the top five car companies all declined in April compared with March, with decreases of 0.7%, 1.1%, 1.6%, 1.4% and 0.4%, respectively. In addition, Land Rover, Acura, Jaguar and Infiniti also declined from March, with Infiniti falling the most, from 45.5% in March to 43.1%, or 2.4%. Lincoln, Tesla, Cadillac and Volvo showed slight increases.

In terms of joint venture brands, the top two are still Japanese brands Honda and Toyota, with a three-year preservation rate of more than 60%. Among them, Honda's three-year preservation rate was 65.0%, up 0.8% from March, while Toyota fell 1.2% to 62.3%. The preservation rates of Nissan and Mazda, both Japanese brands, rose 0.8 per cent to 57.0 per cent, while Mitsubishi fell 0.4 per cent to 52.6 per cent from March. It should be noted that Mitsubishi Motors announced its dissolution and delisting in October 2023.

Other brands, including Kia, Volkswagen, Hyundai, Jeep, Skoda and Citroen, have all risen in value. Taken together, the preservation rate of most joint venture brands increased in April. The report points out that the rebound in the preservation rate of joint venture brands is related to the price war. Because joint venture brands are more restrained in terms of subsidies and multi-brands do not participate in the price war, the market price is relatively stable.

Let's take a look at independent brands. In April, the performance of the three-year preservation rate of independent brands is relatively stable. Chuanqi is still at the top of the list, and its preservation rate has remained first since it surpassed Wuling in January 2023, with a preservation rate of 64.8% in April, the same as in March. The preservation rate of Lectra in April continued to surpass that of Wuling, with the preservation rates of 59.1% and 58.9% respectively, of which the rate of preservation of value decreased 0.1% compared with March.

Except for the top three car companies, the preservation rates of Changan, Harvard, Geely, Mingjue, Roewe, BYD, Chery, ideal, Auchan, Baojun and Red Flag all decreased slightly over the past three years, while the Pentium preservation rate, which ranked last, increased by 1.6% to 45.3% compared with March. "Independent brands have generally entered the new energy field, further reducing the proportion of R & D investment in fuel vehicles, while the used car market is still dominated by fuel vehicles, which has led to a continued decline in the price of used cars," the report said. "

Finally, let's take a look at the field of new energy vehicles. According to the type of power, the value preservation rate of plug-in hybrid models in three years is 50.8%, down 3.0% from 53.8% in March; and the value preservation rate of pure electric vehicles is 53.6%, up 1.1% from 52.5% in March. Although the overall permeability of domestic new energy vehicles is gradually increasing, due to the decline in the cost of power batteries and the impact of the new car price war, the preservation rates of pure electric vehicles and plug-in hybrid models also have different performance in the second-hand car market.

In the list of pure electric vehicles, the top three pure electric models are Porsche Taycan, Tesla Model 3 and Tengli D9 respectively, and Porsche Taycan, Mercedes-Benz E-Star and Zero T03 are the top three models.

In the plug-in hybrid list, BYD has a number of plug-in hybrid models in the list top15. The top three plug-in hybrid models are Panamera E-Hybrid, Cayenne E-Hybrid and Tengli D9, respectively. Ideal L9 and ideal L8 are also among the top five on the list. The top three models with three-year preservation rate are Panamera E-Hybrid, Cayenne E-Hybrid and 4xe, respectively.

The automobile value preservation rate is an important part of the performance-to-price ratio of the car, which has a high reference value for consumers to buy a car, but it is determined by a variety of factors, including brand strength, durability and quality, performance, price change, reliability, spare parts price, maintenance convenience and so on. Therefore, the automobile value preservation rate is not the only standard to judge whether the car is good or bad, but to provide users with one more choice.

According to the China Automobile Circulation Association, in the first quarter of 2024, the trading volume of the national used car market was 4.6003 million, an increase of 7.62 percent over the same period last year, an increase of 326000 vehicles compared with the same period, with a cumulative transaction value of 313.962 billion yuan. It is worth mentioning that in the past, the depreciation of used cars was mostly due to the fast iteration of technology, but now it is more affected by the price reduction of the new car market. It is understood that from the perspective of the age structure of cars, under the influence of the new car market, the market share of second-hand cars that are less than three years old has declined, which also puts some pressure on second-hand car operators.

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