The Second Line Of Luxury Car Market Will Not Be Reduced

Recently, Mercedes Benz, BMW, Cadillac, Lexus, Volvo, Lincoln, red flag and other luxury car brands have announced their sales volume in September, which has added growth momentum to China's auto market which is in the "golden nine silver ten".

In fact, compared with the overall automobile market production and sales decline, the continuous growth of luxury car market has become a major bright spot in the auto market. Since this year, luxury brands not only take the lead in recovering from the impact of the epidemic, but also further increase their contribution rate to the market.

In the first-line camp, in addition to Audi, which has not yet announced its sales volume, Mercedes Benz and BMW achieved a year-on-year growth of more than 20% in the third quarter of this year; second tier luxury brands such as Cadillac, Volvo, Lincoln and Hongqi also achieved double-digit growth in September.

"The upsurge in luxury car market is determined by the high-end exchange demand brought by consumption upgrading." On October 12, Cui Dongshu, Secretary General of the passenger Federation, pointed out in an interview with the reporter of 21st century economic report that "in September, China's overall passenger car market sales growth rate was about 9%, but the growth rate of luxury cars was higher than that of the overall market. On the one hand, luxury car consumers have strong consumption ability and strong anti risk ability. At the same time, the domestic large circulation pattern also brings great promotion to luxury car consumption."

On the one hand, although the current demand characteristics of China's car market are still dominated by the first purchase, the replacement ratio is still rising; on the other hand, the epidemic situation has made luxury car consumers pay more attention to health and quality of life, thus stimulating their demand for luxury car replacement.

However, compared with the 25% - 30% market share of luxury brands in developed countries, China's luxury car market still has a lot of room for improvement, among which the potential opportunities and space also give the luxury brand unlimited development possibilities.

However, under the multiple influences of the global automotive industry's electrification and digital transformation and the impact of the epidemic, China's luxury car market is also undergoing dramatic changes, full of challenges and uncertainties.

First line luxury brands accelerate layout in the future

In fact, with the automotive industry gradually entering the new era of electrification and digitization, it has become a general trend that luxury car brands accelerate the layout in the field of new energy and digital.