In the past ten years, the imported car market, which is dominated by high-end luxury cars, has been leading the Chinese auto market. However, in the context of the weak auto market in China this year, the imported car market has also declined. According to China's import auto market database, in August this year, China imported a total of 77,000 vehicles, down 37.5% year-on-year, and imports fell to a five-year low.
In the case of continued low import volume, the import vehicle inventory coefficient remains high, reaching a new high in recent years. In the months of March, April and July, the import vehicle inventory factor has exceeded 5. Usually, the inventory factor is in the range of 0.8 to 1.2, and 1.5 is the inventory warning line. Severe inventory has led to a continuous increase in the preferential margin of the imported car market. In August, the preferential price of imported car market reached 14.2%, and the average discount amount of bicycles reached 95,000 yuan, making the profit margin a record high.
According to industry analysts, the decline in import volume is obviously due to the slow digestion of surplus stocks last year, and the lack of market demand this year. The launch of new models is also very weak for the sales of imported cars. In the past, new models accounted for more than 30% of the total imported cars. This situation is no longer there.
However, while the import volume has fallen sharply, the decline in the sales volume of imported cars has narrowed. According to statistics from the China Import Automobile Association, the sales of the C-class SUVs such as the BMW X5 and Mercedes-Benz ML have increased significantly, directly driving the sales of the C-class vehicles to achieve a contrarian growth, with a year-on-year increase of 2%.
From the perspective of market competition, multinational auto companies are under pressure from their opponents and are accelerating the process of localization in China. This means that the Chinese auto market is maturing, and consumers' acceptance of domestic and independent brand models is rising. According to statistics from the China Association of Automobile Manufacturers, in the first half of this year, self-owned brand passenger vehicles broke through the trend and sold a total of 4,184,600 units, an increase of 14.57% year-on-year. Compared with the same period of last year, the market share of foreign brands has a certain degree. The decline, among which the German brand fell the most.
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