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Compared with the overall retail ratio of domestic car companies, which fell by 40% in March this year, retail sales in the luxury market fell only 20% from the same period last year, which is obviously better than the overall market performance, which also means that under the impact of the car market downturn and the epidemic, the demand for high-end purchases of consumer upgrading has picked up more quickly than the new market.
The luxury car market continues to grow rapidly, and the sales of several brands have soared and ushered in historical highs, which has once again become a major breakthrough in the automobile market this year. Luxury cars rose 86 per cent year-on-year in March, 60 per cent in February and 51 per cent in March 2019, according to the Federation of passengers. Reflects the luxury cars continue to maintain strong growth characteristics, consumer upgrading of high-end exchange demand is still strong.
The car market has returned to its traditional off-season performance in July, but the epidemic affected the market growth trend in July this year, with an increase of 7.7% over the same period last year, with the luxury car market growing by 30% year-on-year and down 4% from the previous month. Market share remains at an all-time high of 15%.
According to data from the Federation of passengers, sales of narrow passenger cars in China increased by 372.9% in February 2021 compared with the same period last year, of which sales in the luxury market increased by 574.8%. It is not difficult to see that the growth rate of the luxury car market is much higher than the market level, once again continuing the hot sales of luxury cars in the market last year. Recently, the China Automotive Center released the February luxury brand sales ranking, which counts the top 15 luxury car brands by sales. Overall, BMW-Benz Audi occupies the top three positions. Tesla, as a car-building brand, has become a rookie of second-tier luxury brands, while Red Flag has become the only Chinese brand with more than 10,000 sales.
Luxury brand sales in March 2021 were 51% higher than in March 2019, according to the Federation of passengers, which means that even without taking into account the impact of the 2020 epidemic, the luxury market grew by more than half in March this year. Although China is the world's largest car market, the performance is surprising. According to the statistical standards of the Federation of passengers, the guiding price of 300000 yuan is a watershed for luxury cars, and car brands with a price of more than 300000 yuan can be regarded as luxury car brands. The Federation released a ranking of luxury model sales in March, with nine luxury models selling more than 10,000 vehicles that month.
The luxury car market continues to grow rapidly, and the sales of many brands have risen sharply and ushered in historical highs, which has become a major breakthrough in the automobile market this year. Luxury car retail sales rose 33% year-on-year in September, double-digit growth for many months in a row, and market share remained at around 15%, according to the federation of passengers. The demand for high-end cars brought about by consumer upgrading, as well as the increasing competition for luxury cars, have led to a continuous decline in prices, further expanding the consumer market covered by luxury cars. Under such circumstances, the luxury car market continued to prosper in October, with mainstream luxury brands rising sharply collectively. In the past October, the growth of second-tier luxury brands is more obvious, including Cady.
In the past year, the domestic automobile market has been in a downward trend. As the annual production and sales data have not yet been released, the cumulative production and sales of the domestic automobile market fell by 9% and 9.1% respectively in the first 11 months compared with the same period in 2018. However, in the face of such a market, luxury brands are on a rising trend, whether it is first-tier BBA or second-tier luxury. And this is inseparable from the "price for quantity" under the upgrade of luxury brands. According to the analysis of Cui Dongshu, secretary general of the National passenger car Association, in 2019, China's trade-in users have exceeded the newly purchased or additional consumer groups, of which 60% are new buyers. new or.
The Federation released a ranking of luxury car sales in May, with sales of more than 10,000 luxury cars in that month, a year-on-year surge, with three first-tier luxury brands of Mercedes-Benz and BMW Audi accounting for the majority of sales.
is superimposed by the market recovery in the traditional peak season of September / October, coupled with the continuation of the domestic purchase boom, the luxury car market continues to maintain a strong trend. Luxury car retail sales rose 30% year-on-year in October, according to the federation of passengers. But it is worth noting that in such a growing environment, the best-selling models of various luxury brands showed some signs of decline in October.
According to the latest statistics of the Federation of passengers, the domestic narrow-sense passenger car market sold 1.661 million vehicles in June, which rebounded further from May. Among them, the luxury car market performed brightly, with retail sales rising 27% in June from a year earlier, with a market share reaching an all-time high of 14.9%. Cui Dongshu, the passenger association, said that the rise in sales in the luxury car market was mainly due to the demand for high-end swaps and the price drop brought about by the new promotional discounts on luxury cars. According to the luxury car sales list released by the Federation, there were more than 10,000 luxury cars sold in June, achieving year-on-year growth. Mercedes-Benz, BMW, Audi, three first-tier luxury car brands accounted for the main sales.
With the acceleration of consumption upgrading in the domestic automobile market, luxury brands have maintained a high growth trend in the first half of the year, even after the impact of the COVID-19 epidemic. After three consecutive months of year-on-year growth after March, the traditional off-season market still maintained a growth rate of nearly 30 per cent in July.
looks at 2020, which has been nearly 11 months ago, which means that this year will pass again. Under the impact of the COVID-19 epidemic in early February this year, the national automobile market has been impacted to varying degrees. In this environment, the luxury market recovered strongly with a relatively rapid rebound, and now it has maintained year-on-year growth for six consecutive months.
Since entering 2020, the decline of the car market superimposed the impact of the COVID-19 epidemic, so that the car market suffered an unprecedented impact. In spite of this, the luxury market has maintained a stronger performance than the passenger car market this year, with market sales and share continuing to rise due to the upgrading of consumption.
Coincides with the "Golden Nine" traditional peak season, September passenger cars still maintain a growing trend, in which the luxury car market continues to be stronger, a number of brands have achieved a sharp rise in the same month compared with the same period last year. The luxury car market grew 33% in September from a year earlier, up 5% from July, and its market share remained at an all-time high of about 15%, according to a report by the federation of passengers.
The continued growth of the luxury car market against the trend has become a bright spot in the current car market. The demand for high-end cars brought about by the upgrading of consumption and the increasing competition for luxury cars have led to a continuous decline in prices, further expanding the consumer market covered by luxury cars. According to the HKCEC report, in the first eight months of this year, the cumulative sales of the domestic luxury car market was about 1.533 million, an increase of 8.3% over the same period last year, and it was the only one of the three major market segments that maintained positive growth. In recent months, with the gradual recovery of the market, the growth momentum of domestic luxury car sales is even stronger, of which August sales reached 243700, a year-on-year increase of 31.6%.
Judging from the sales of major car brands in 2019, in addition to the sudden rise of independent brands, the sales of joint venture brands in the domestic market have also increased significantly, especially the domestic sales of Japanese brands Honda, Toyota and Nissan have risen again. However, Honda, Toyota and Nissan's luxury brands have very different fates. Toyota luxury brand Lexus is arguably the benchmark for second-tier luxury brands. According to sales figures, Lexus sold 200521 vehicles in China in 2019, up 25 per cent from a year earlier. Honda luxury brand Acura and Nissan luxury brand Infiniti are on the edge of second-tier luxury brands.
With the end of 2022, major car companies have also released global sales figures. According to US luxury car sales data, Tesla ranked first in the United States for the first time in 2022, surpassing BBA for the first time, ending the number one position of German luxury cars in the US luxury car market for several years.
In 2020, the global auto market suffered an unprecedented COVID-19 epidemic in the first quarter, resulting in a decline in sales and performance. But for the luxury market, it is like the other side of the scene, even in this poor market environment, the super-luxury brand Bentley has been able to reverse the trend.
The past of June means that the achievements of major car companies in the first half of the year will soon be announced. Under the market hit by the epidemic, all major brands are bound to have a hard time in the first half of this year, but thanks to the effective control of the epidemic in China, signs of recovery in the domestic automobile market have gradually become obvious, especially in the luxury car market.
With the entry of in 2020, the impact of COVID-19 's epidemic situation has brought no small impact on the domestic car market, but in this environment, the luxury car market remains strong, thanks to the gradual increase in the proportion of domestic purchase groups and the advantages brought by the falling discount prices of luxury models, which further enhance the market share of luxury cars.
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