In the first three quarters of 2014, the growth rate of German top three ABBs (Audi, Mercedes-Benz, BMW) in China has dropped significantly, and ultra-luxury brands have begun to explore, occupying ABB's market share.
China's auto market entered the traditional sales season "Golden September and Silver 10" in a weak situation. According to data from the China Association of Automobile Manufacturers, sales of passenger cars in China increased by 6.4% year-on-year in September, which was lower than the 8.5% in August and 9.7% in July. Also weak are the sales of first-line luxury cars such as Audi and BMW.
"It can only be sold step by step. It is difficult to sell more cars every month. I feel that the business is not as good as before." Wang Cong, a staff member of a BMW 4S store in Beijing, expressed concern to China Economic Weekly, "This way, China Can the second throne (BMW) still sit?"
Wang Cong’s worry is not without reason. In the first three quarters of 2014, the growth rate of ABB (Audi, Mercedes-Benz, BMW) in Germany was significantly reduced in China, while the second-tier luxury cars swarmed, eroding the market that originally belonged to ABB, and ultra-luxury brands began to explore. , squeezed ABB's market share.
Luxury car ABB China slowdown Since entering the Chinese market around the 1990s, the German top three have sang all the way. In 2013, Audi sold 492,000 units in China, and it continued to sit on the top of China's luxury car sales. BMW and Mercedes-Benz followed closely, with sales of 390,700 and 228,000 respectively. The top three Germans are firmly in the top three in the Chinese luxury car market, holding more than 70% market share.
However, this "one country alone" situation is quietly changing.
In September this year, in China, BMW's sales increased by only 3.7% year-on-year, a new low this year; Daimler Group's China market increased by 24%, significantly lower than the 31% total sales growth in the previous nine months; Audi brand in China The market (including Hong Kong and Macau) delivered a total of 51,614 vehicles to consumers, a year-on-year increase of 13.4%, while its 2013 year-on-year increase was 21.2%.
Why did the German top three suddenly slow down in China? Shen Jinjun, vice president and secretary general of China Automobile Dealers Association, told China Economic Weekly that this is related to factors such as the slowdown in macroeconomic growth and the state's policy of restraining luxury consumption.
Tang Youcheng, Director of the Climate Research Division of the China National Economic Statistics Monitoring Center of the National Bureau of Statistics, agrees with this view. He told China Economic Weekly that the bus reform has not yet fully involved the “quasi-bus†of enterprises and institutions and state-owned enterprises, while the “quasi-bus†consumption is relatively strong, and the grades of vehicles are relatively high. Since the implementation of the eight regulations, this part of consumption has been significantly suppressed.
The slowdown in sales growth has threatened the realization of Audi's sales target. Previously, Audi had planned to achieve 700,000 annual production and sales in China in 2015. At present, it seems that this goal is difficult to achieve, which means that it must maintain a market growth rate of more than 20% this year and next, and Audi in September. Sales growth was only 13.4%.
The second-line luxury car “fighting†grabs the market. The German top three deceleration, the second camp of the Japanese top three (Lexus, Infiniti and Acura) ushered in the perfect opportunity to open the territory.
In the first half of this year, Infiniti sold 13,954 units, which was 82% of total sales in 2013, up 130% year-on-year. In addition to large-scale promotion of the brand, vigorously sponsoring "Daddy where to go" and other TV programs, Infiniti also chose to marry Dongfeng Motor. It is understood that the first domestically produced car will be officially launched at the Fuyang plant in Hubei at the end of the year.
Localization is a trick that has been tried and tested by luxury cars. Through domestic production, luxury cars can greatly reduce taxes and fees (according to professional calculations, the comprehensive import tax rate for automobile imports is 47.7% to 143.7%), reduce the cost of circulation and transportation, and help the brand to develop domestic market.
The localization of Jaguar Land Rover chose Chery as a partner. In 2012, Chery Jaguar Land Rover Automobile was established, and the first step in the localization of Jaguar Land Rover was announced. Recently, China Economic Weekly learned from Chery Jaguar Land Rover that the Chery Jaguar Land Rover factory in Changshu City, Jiangsu Province will officially open on October 21. At the same time, the first model of Jaguar Land Rover, Land Rover Range Rover Aurora will also be off the assembly line.
Chery Jaguar Land Rover, a staff member who did not want to be named, told China Economic Weekly. "In the future, Chery Jaguar Land Rover will launch a new car almost every six months. After the Aurora is off the assembly line, domestic discoveries will soon be available."
The above-mentioned staff of Chery Jaguar Land Rover revealed to China Economic Weekly that the price of domestic Range Rover Aurora is about 350,000, while the price of imported Land Rover Range Rover Aurora is 578,000. The price will definitely be Audi Q5, BMW X3, Mercedes GLK. Waiting for the impact of traditional competitors. In addition, the staff said that the domestic Land Rover Range Rover Aurora has absorbed many of the lessons of the previous generation of imported Land Rover, and the quality is inevitably superior to imported models.
Data show that in the first half of this year, Jaguar Land Rover, Cadillac and Infiniti increased by 48.5%, 71.7% and 130% respectively, and even the Japanese hymns, which have never been optimistic, increased their sales by 78.2% in the first half of the year.
The growth rate of “anti-sky†plus the lower price after the domestic production, the sales of second-line luxury cars will further increase.
Recently, GM Global President Axon personally announced the construction of a new Cadillac factory in Shanghai Jinqiao in 2015. Shanghai General Motors General Manager Ye Yongming said that a new Cadillac product will be introduced at least every year for the next five years. In addition, the localization of second-tier luxury cars such as Yangko, one of the top three in Japan, and Volvo, which was acquired by Geely, is in full swing.
"The number of second-line luxury cars is growing fast. If the top three Germans are lions on the grasslands, the second-line luxury cars are hyenas. Although the lions are strong, the number of dogs is high, and the style of play is different. Sometimes even the prey that comes to hand, Under the siege of the hyena, the lion had to hand in hand." Wang Cong sighed with "China Economic Weekly".
The above-mentioned staff of Chery Jaguar Land Rover told China Economic Weekly that the traditional "German top three" once occupied 70% or 80% of the Chinese luxury car market. From a global perspective, this pattern is not normal, with Chinese cars. With the gradual maturity of consumer culture, people's brand awareness will not be limited to only a few luxury cars in Germany. They will seek more “personalized†brands. By then, more second-tier luxury cars and ultra-luxury brands will become consumption. The choice of the person.
Ultra-luxury brands crowd out ABB market McKinsey's report estimates that by 2016, China's luxury car sales will reach 2.25 million, thus replacing the US dominance and becoming the world's number one; by 2020, China's luxury car sales are expected to reach 3 million. According to other data, in the European and American auto market, luxury cars account for up to 30%; while in China, luxury cars account for only 7%. The Chinese luxury car market has huge space.
China's huge luxury car market has placed great emphasis on ultra-luxury brands such as Maserati, Rolls Royce, Bentley, McLaren and Porsche. In order to get a share of the cake in the Chinese market, the ultra-luxury brand even zoomed in.
Channel sinking is the first move. At present, the ultra-luxury car network has been expanded from the first-tier cities in the past to the second- and third-tier cities along the eastern coast. The relevant person in charge of the China Automobile Dealing Association told China Economic Weekly that in the first half of 2014, 15 ultra-luxury dealers had opened, among which Maserati and McLaren were the most newly opened brands.
In addition to sinking channels, prices have become "weapons" for luxury brands. Because ultra-luxury brand consumers are not very sensitive to the price of the car, the ultra-luxury brand will not be domestically produced like the second-tier luxury car, and the introduction of a lower-positioned car becomes the choice of many ultra-luxury car companies.
In July of this year, Porsche launched a Macan with a lower positioning than the Cayenne in China. The model with a minimum of 600,000 yuan poses a threat to the best-selling models such as the Audi Q5, BMW X3 and Mercedes-Benz GLK. In addition, Bentley, Ferrari and McLaren are expected to launch at least three low-threshold models within five years.
Zhang Zhaojun, the chief partner of Yanjin Business Consulting Co., Ltd., told China Economic Weekly that the Mercedes-Benz S600L, BMW 760Li, Audi A8L 6.3 FSI W12 are all more than 2 million cars, and they are also the best-selling models in the Chinese market, but with China. The automobile market is gradually maturing, and at the same price level, more consumers will choose a more personalized ultra-luxury brand.
In a mature car market like the United States, entrepreneurs prefer sports cars or coupes. For example, the founder of Microsoft founder Bill Gates is a Porsche 959, but in China, wealthy businessmen seem to prefer large cars and SUVs. According to sources, Wang Jianlin The car is a Mercedes-Benz S600L, and Ma Yun's car is a Maybach (the brand's car was discontinued in 2013). Zhang Zhaoxuan told China Economic Weekly that in the near future, coupes, sports cars, pickups and even modified cars will be like the American market, and they are more liked by wealthy businessmen.
"The position of the German top three in China is being shaken." Zhang Zhaoxuan told China Economic Weekly that Mercedes-Benz, Audi and BMW will maintain their leading position in the luxury car market, but their market share will definitely decline.
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