On May 11, the China Association of Automobile Manufacturers released the national auto market statistics for April 2015. The data shows that in April, the production and sales of automobiles decreased, and the growth rate of output decreased year-on-year. The sales volume decreased slightly year-on-year. From January to April, the growth rate of automobile production and sales continued to slow down. Among them, the heavy truck market sales dived, while the independent SUV market is still growing against the trend. The "Daily Economic News" reporter analyzed the current situation, reasons for the market segments such as cars, SUVs and heavy trucks and the subsequent development direction of the market by combing the statistics of the previous April.
On May 12th, Shanghai GM lowered the price of its 40 models, ranging from 10,000 to 539,000 yuan. "Mainly due to the market pressure brought by Shanghai Volkswagen price cuts," a Shanghai general dealer told the "Daily Economic News" reporter that the market will not pick up in April, and the adjustment in May will further intensify.
However, the "spring price cuts" did not curb the decline in the growth rate of the passenger car market. According to data from the China Association of Automobile Manufacturers, the passenger vehicle market fell by 10.78% in April, up only 3.72% year-on-year. Yao Jie, deputy secretary-general of the China Association of Automobile Manufacturers, said that April and May were the off-season sales in the first half of the year. The decline in the chain was the rule of the market, but this year it is indeed special.
The car market, which accounted for the largest proportion of the four categories of passenger car segments, has attracted attention for three consecutive months and a year-on-year decline. “Cars are the basis of the passenger car market. As the SUV and MPV markets are not saturated, they are in a period of rapid growth, and the data reference is not significant.†A market analyst said that the car market has become the representative of the auto market adjustment, “ The price cuts are likely to affect the luxury car market."
Car share fell below 60%. Data show that in the first four months of this year, car sales totaled 4,035,700, accounting for 57.86% of total passenger car sales. "The share of cars is about 55%, and the share of SUVs is more than 30% is the next inevitable trend." Cui Dongshu, secretary general of the National Passenger Car Association, told reporters that the downward trend of car sales will not change in the short term.
On the other hand, the first car buyers in third- and fourth-tier cities are covered by independent SUVs and MPV models. “The space advantage of these models is highly recognized by consumers in third- and fourth-tier cities,†said Cui Dongshu. The price range for the first-time car purchase is about 100,000 yuan. The self-owned brand SUV and MPV models have obvious advantages in the joint venture brand car.
Therefore, the joint venture brand responded to the powerful offensive of its own brand SUV and MPV through price reduction and other means. However, "the effect of price reduction is not obvious." A joint venture brand dealer told the "Daily Economic News" reporter that the main role of price cuts is to ease the pressure on dealers.
Mainstream joint ventures are all "official"
After Shanghai GM completed the price adjustment, the top six mainstream joint ventures in the Chinese passenger car market were all “officialâ€. “This is a situation that has never happened in the automotive market since 2009.†An analyst in the market circulation field told reporters that it is mainly based on two reasons: first, the pressure on dealers is too large, and cash flow problems; second, the market The performance is much lower than expected at the beginning of the year and can only be promoted through price reduction. "Official price cuts are a 'sickness' for auto companies," said Cui Dongshu. Statistics show that the direct profit loss behind a company's price cuts may reach about 10 billion yuan.
Increasing market competitiveness through price cuts is a last resort. Some analysts believe that behind the price reduction promotion, it reflects the deep reason for the unreasonable layout of the joint venture model.
For example, in the top three passenger car market sales, North and South Volkswagen and Shanghai GM, Shanghai Volkswagen car sales accounted for 83.99%, SUV sales ratio 13.69%; FAW-Volkswagen Volkswagen brand models are all cars; Shanghai General Motors The sales ratio is as high as 78.36%. "For a long time, the joint ventures have developed fewer models for the Chinese market, and the lack of timely launch of models suitable for Chinese consumers is an important reason for the decline in sales this round." Cui Dongshu said.
Previously, the rapid growth of self-owned brand SUVs and MPV models was considered to be the first distinct personality of Chinese consumers. According to the analysis, the Chinese auto market has always followed the following characteristics, and the foreign best-selling models have shown a hot trend after they are introduced. However, in this round of sales growth, especially in the MPV market, Chinese brand models have an overwhelming advantage, which is a vivid manifestation of China's consumer demand-led market.
In the overall growth of the automotive market, the joint venture brand is difficult to introduce models in the short term, the price reduction becomes an inevitable choice, and the price advantage will directly compete with the self-owned brand SUV models.
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