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

2024-07-18 Update From: AutoBeta NAV: AutoBeta > News >


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On June 3, the China Automobile Circulation Association released the "Research report on China's Automobile value retention rate in May 2024". The content of the report still revolves around 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 three-year preservation rate of Chinese cars in May.

The report shows that in May, with the exception of MPV, the preservation rate of all levels declined across the board. Among them, the preservation rate of small cars and medium and large SUV fell 1.4% month-on-month compared with April; medium and large vehicles fell 1.3%; medium SUV fell 1.1%; and compact SUV fell 0.7%. In contrast, MPV's preservation rate rose to 68.8% in May from 64.8% in April, an increase of 4% from the previous month, which to some extent reflects the strong demand in the MPV market.

In terms of the value preservation rate of national brands, among the luxury brands, the top five car companies are Porsche, Mercedes-Benz, Lexus, BMW and Audi. Among them, Porsche is the only brand with a preservation rate of more than 70%, with a preservation rate of 76.5% in May, and the latter four have a preservation rate of 66.5%, 66.1%, 60.6% and 59.1%, respectively. BMW fell significantly, down 1.6% from the previous five. In addition, including Tesla, Land Rover, Volvo Jaguar and Infiniti also showed a month-on-month decline, of which Land Rover fell 3.4 per cent to 54.6 per cent.

In terms of joint venture brands, Japanese brands Honda and Toyota are still at the top, with preservation rates of more than 60%, but both declined month-on-month. Toyota's preservation rate fell 0.4% month-on-month compared with April, Honda fell 1.2%, and three-year preservation rates of two Japanese brands, including Mazda and Nissan, also showed a month-on-month decline, while Mitsubishi rose 1.0% from April.

For other car companies, Buick's preservation rate was 57.1% in May, up 0.5% from a month earlier, ranking third on the list. "Buick has a clear advantage in MPV," the report said. "in the context of the decline in the overall price of the joint venture brand, Buick GL8 helps the brand to make a profit." Volkswagen and Kia are not far behind, with preservation rates of 57.1% and 57.0%, respectively. Skoda, Ford, Hyundai, Jeep, Chevrolet, Citroen and Peugeot all appeared on the TOP15, with Hyundai holding down 1.9 per cent and Ford 1.7 per cent lower than in April.

Let's take a look at independent brands. In May, the three-year preservation rate of independent brands generally declined. Chuanqi is still at the top of the list, and its value preservation rate has remained first since it surpassed Wuling in January 2023, with a value preservation rate of 64.6% in May, the only car company on the list that exceeds 60%, but down 0.2% from April. Lectra and Wuling took the second place, with preservation rates of 58.9% and 58.6%, respectively. Except for the top three car companies, including Changan, Harvard, Mingjue, Chery, BYD, Auchan, Baojun, and the ideal three-year preservation rate have all decreased to varying degrees month-on-month, among which the ideal car has dropped 3.4% month-on-month.

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 is 51.0% in three years, up 0.2% from 50.8% in April. The value preservation rate of pure electric vehicles is 53.0%, down 0.6% from 53.6% in April. The report points out that the price of hybrid used cars is stable and the market ownership is relatively large. At present, second-hand car users no longer doubt hybrid models. In addition, the preservation rate of electric cars has not changed significantly, and mini trams have reappeared in the market to set the bottom for the price of second-hand cars.

Among the subdivided models, in the list of pure electric vehicles, the top three in the annual preservation rate of pure electric models are BYD Seagull, Porsche Taycan and Wuling colorful fruit, respectively; in the plug-in hybrid list, BYD's plug-in hybrid models rank in the list top15, and the top three plug-in hybrid models are Cayenne E-Hybrid, Panamera E-Hybrid and Tencent D9, respectively. Ideal L9 and ideal L8 are also among the top five on the list.

Previously, it was very popular in the industry to say that "buying a car is easy to cut leeks without looking at the preservation rate." As an important index to measure the quality of automobile brands and models, the preservation rate has a high reference value for users to purchase cars. After all, the higher the preservation rate, the higher the economic benefits and use value to users. However, "Automotive Industry concern" believes that there are many factors that affect the value preservation rate of vehicles, including the number of cars in the market, product popularity, market end concessions, and so on. Therefore, the car value preservation rate is not the only criterion for judging whether the model is good or bad.

The China Automobile Circulation Association said in a report that the value preservation rate of the used car market decreased significantly in May, with fuel vehicles accounting for the vast majority. In addition, due to the impact of the price war in the new car market on the second-hand car market, second-hand car dealers have to reduce prices to further reduce profit margins, although the decline in second-hand car prices has caused harm to car dealers, but losses or small profits should also continue to operate, and rapid turnover has become the consensus of second-hand market participants. From January to April 2024, the cumulative transaction volume of used cars nationwide was 6.2793 million, an increase of 9.42 percent over the same period last year, with a cumulative transaction value of 425.061 billion yuan, according to the China Automobile Circulation Association.

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