Recently. Issued by the China Automobile Dealers Association.
January 2024 China Automobile Retention Rate Report".
In the case of 3 years of use.
Used cars** are declining across the board.
This also means that its value retention rate has generally declined.
What is the reason?
Led to an overall decline in used cars**?
Used cars** declined.
What impact will it have on consumption?
Clearing before the Spring Festival" stage
The number of vehicles reached a record high for the same period in history
Boosted by a series of favorable policies, the domestic second-hand car transaction volume in 2023 will break the historical sales record. Whether the second-hand car transaction volume can continue to grow rapidly this year is not only related to the development of the automobile circulation field, but also related to the performance of the new car market. Since the beginning of this year, major domestic restricted cities have successively released 2024 passenger car control measures, and many restricted cities have continued to adjust their original policies, releasing positive signals to the consumer market.
Li Ming, a data researcher at Jingzhen Estimate, a special strategic partner of the China Automobile Dealers Association, said in an interview with reporters that despite the rapid growth of the automobile industry, it is still facing the difficulty of "insufficient effective demand". The restriction on the purchase of passenger cars has driven the replacement in a certain period of time and promoted the relocation of second-hand cars, but in the new car market, the license restriction policy hinders the release of consumer demand.
The number of vehicles is the used car market.
An indicator of the degree of development activity.
The value is related to the high and low level.
Consumers' space to buy a car.
And then affect the popularity of the second-hand car market.
The data shows thatIn January, the number of online vehicles increased significantly year-on-year and month-on-month, which is the highest value for the same period in history, reaching 71860,000 units.
In this regard, Li Ming explained: "January is the 'clearance' stage before the Spring Festival for car dealers, and second-hand cars need the same impulse as new cars. In addition, the demand for the return of funds at the end of the year has also prompted the number of vehicles to reach a new high. ”
Used cars** are on a downward trend across the board
The value retention rate of independent brands is generally **
report.
in various segments.
Used cars** are on a downward trend across the board
Trends in shelf life by market segment. Information**.
Thereinto. The value retention rate of medium and large SUVs is from.
70 of December 20231%
plummeted to 63 in January of this year8%
In January, MPV models topped the list of value retention rates
Previously, whenever the value retention rate of the used car market fluctuated, the performance of sedan and SUV models tended to be differentiated**. For the performance of such a "consistent" value retention rate of second-hand cars, the China Automobile Dealers Association believesThere is a certain holiday factor, the new car "war" before New Year's Day and the uncertainty after the Spring Festival have prompted sellers to hope to facilitate the transaction as soon as possible. Li Ming said that in terms of vehicle level,The value retention rate of small cars has been higher than that of medium-sized cars, and the value retention rate of medium and large cars has decreased significantly.
In the field of luxury cars, in 2023, in addition to the sales of luxury brands such as Hongqi, Jaguar Land Rover, and BMW, they will achieve growthSales of many luxury brands continued to decline
report.
Luxury brands Porsche, Acura, etc.
The retention rate is 759% and 504%
Month-on-month, it fell slightly by 39% and 11%
Infiniti's retention rate is only 458%
report.
The value retention rate of independent brands is generally **
Among them, Geely, Chery, Auchan and other top gainers.
Furthermore. The value retention rate of many independent brands is more than 60%.
Compared with. Baojun and Besturn have a low retention rate.
respectively 553% and 493%
Li Ming introduced,The retention rate of domestic brands has not shown significant differentiation, indicating the overall stability of this market segment。On the one hand, high-end brands such as Lynk & Co and Changan are performing strongly, and on the other hand, established car companies are also trying to catch up. At the same time, the brands in the middle of the current ranking are also continuing to make efforts to win the trust of consumers with the technical advantages behind the brand.
The value retention rate of new energy vehicles increased against the trend
Almost the same value retention rate as traditional fuel vehicles
are in the same range
New energy vehicles play an increasingly important role in the automobile market, and new energy vehicles, which previously gave people the impression of "not maintaining value", have been significantly improved.
report.
Plug-in hybrid and fully electric models
The retention rate increased slightly
The retention rate is 552% and 547%
Month-on-month growth of 19% and 28%
It can be seen,The value retention rate of new energy vehicles has been almost in the same range as that of traditional fuel vehicles。Li Ming said that because the technical indicators of subsidies and tax exemptions are fine-tuned every year, and the replacement of new energy vehicles is often carried out at the beginning of the year, the value retention rate data in January covers more annual models, and the performance of most of them has been significantly improved. The second-hand car before the Spring Festival** will become the "guide price" of car dealers in the coming year, providing a reference for collecting cars after the holiday.
At the policy level, the State Administration of Financial Supervision recently issued the "Notice on Effectively Doing a Good Job in the Underwriting of New Energy Vehicle Insurance", which regulates the undesirable phenomenon of "difficulty in renewing insurance" of new energy vehicles in the market and protects the legitimate rights and interests of consumers. In this context, it will become a trend for insurance companies to flexibly adjust premiums through big data while actively underwriting. To a certain extent, this means that the issue of renewal is no longer a shortcoming hindering the promotion of new energy vehicles.
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