2021中国豪华车市场研究报告英文版+CHINA+PREMIUM+CAR+MARKET+RESEARCH+REPORT+2021.pdf

A More Diversified and Restructured Market– China Premium Car Market Research Report 2021Ocean Insights Based�on�traditional�conceptions�and�the�evolution�of�brands,�premium�car�brands�can�be�divided�into�traditional�premium�brands,�self-owned�premium�brands,�and�emergent�premium�brands.�Traditional�premium�brands:�BMW,�Mercedes,�Audi,�Lexus,�Porsche,�Lincoln,�Volvo,�Cadillac,�Jaguar,�Land�Rover,�Infiniti,�Acura,�etc.;�core�features:�rich�history�and�high�brand�recognition.�Self-owned�premium�brands:�Hongqi,�WEY,�Lynk &�Co,�etc.;�core�features:�premium�lines�of�self-owned�brands�are�intended�to�meet�users'�needs�for�features�and�premium�experiences.�Emergent�premium�brands:�Tesla,�NIO,�Li�Auto,�etc.;�core�features:�hi-tech�and�advanced�technologies�in�line�with�electric�vehicle�trends.�Luxury�brands�such�as�Rolls-Royce,�Bentley,�and�Ferrari�are�not�included�in�the�scope�of�this�report�due�to�their�high�prices�and�unique�target�audiences.Chapter 1Changes in the IndustryWhile there is competition between carmakers in the existing market, the premium car market has expanded remarkably, with a growth rate demonstrating a widening ’price scissors’ effect that differs from the trend of the overall auto industry. The market is also becoming more competitive with the involvement of more parties, and the industry is witnessing unprecedented changes.The�history�of�China's�premium�car�marketSource:�Information�collected�by�Ocean�Insights�from�the�official�websites�of�brandsThe�premium�car�market�begins�to�expand,�driving�the�development�of�the�industry.�Mercedes-Benz�(China)�Ltd.�was�established�in�Hong�Kong,�introducing�the�first�Mercedes�models�into�China.�FAW�and�Audi�signed�a�licensing�agreement�and�started�producing�the�Audi�100�model�based�on�parts�kits�at�FAW,�marking�the�official�entry�of�Audi�into�the�Chinese�market.�BMW�established�its�Beijing�Representative�Office,�officially�entering�the�mainland�market.�Porsche�opened�its�first�dealership�in�mainland�China.�SAIC-GM�introduced�Cadillac�into�China.�Lexus�China�was�established,�marking�the�official�entry�of�Lexus�into�China.�Infiniti�officially�entered�the�Chinese�market.�Tesla�entered�the�Chinese�market.�NIO�was�founded.�Li�Auto�was�founded.�WEY�and�Lynk &�Co�were�founded.�Tesla�built�its�Shanghai�plant.�SAIC�Audi�was�established.Source:�China�Association�of�Automobile�Manufacturers,�Marklines-20.0%0.0%20.0%40.0%60.0%80.0%100.0%20102011201220132014201520162017201820192020Growth rate of mass-market car salesGrowth rate of premium car salesDemands:�in�the�current�market,�the�increased�level�of�consumption�has�boosted�demand�for�premium�carsSource:�China�Passenger�Car�Association'16'17'18'19'20MPVsLarge SUVsMidsize to large SUVsMidsize SUVsCompact SUVsSmall SUVsSports carsFull-size sedansMid to full-size sedansMid-size sedansCompact sedansSmall sedansMini sedans96.5%96.3%94.7%93.7%92.5%90.5%3.5%3.7%5.3%6.3%7.5%9.5%0%10%20%30%40%50%60%70%80%90%100%201520162017201820192020�300,000�300,000Model�Price�in�ChinaPrice�in�the�US�BMW�3�Series�CNY�293,900�409,900USD�46,295�57,695�(approx.�CNY�300,000�373,800)Mercedes-Benz�C-ClassCNY�307,800�474,800USD�45,625�48,875�(approx.�CNY�295,600�316,700)Audi�A4�(L)CNY�305,800�396,800USD�43,020�53,470�(approx.�CNY�278,800�346,500)Prices�of�selected�premium�brands�available�in�the�Chinese�market�(China�and�the�US)Source:�Dcar,�www.edmunds.comSource:�the�Customs�Tariff�Commission�of�the�State�CouncilYear�Percentage�of�Chinese�produced�vehicles�of�foreign�premium�brands201048%201150%201252%201353%201456%201560%201663%201769%201873%201974%202077%Source:�China�Association�of�Automobile�Manufacturers0%50%100%150%200%250%198619881990199219941996199820002002200420062008201020122014201620182020Capacity > 3LCapacity <= 3LBMWMercedes-BenzAudi200920212009202120092021Number�of�Chinese�produced�models262728Sales�proportion�of�Chinese�produced�models50%80%25%81%93%90%MSRPCNY�283,000�679,600CNY�203,800�549,900CNY�348,000�638,000CNY�211,800�642,800CNY�298,800�696,000CNY�203,100�653,800source�Dcar0102030405060BMW 1 SeriesBMW 3 SeriesBMW 5 SeriesBMWX1BMWX2BMWX3010203040506070Mercedes-BenzA-ClassMercedes-BenzC-ClassMercedes-BenzE-ClassMercedes-BenzGLA-ClassMercedes-BenzGLB-ClassMercedes-BenzGLC-ClassMercedes-BenzGLE-Class010203040506070Audi A3Audi A4 LAudi A6 LAudi Q2 LAudi Q3Audi Q5 LAudi e-tronMarket�share�has�expanded�significantly,�suggesting�more�room�to�grow�in�the�futureSource:�public�information�compiled�by�Ocean�InsightsPremium�brandsJoint-venture�brandsSelf-owned�brands20156.10%56.00%37.90%20166.2052.60%41.20%20177.40%50.80%41.70%20188.80%50.20%41.00%201910.70%51.40%38.00%202014.00%51.30%34.70%203020.00%Source:�China�Passenger�Car�Association0.0%5.0%10.0%15.0%20.0%25.0%30.0%GermanyUKSpainChinaItakyUSCanadaAustraliaKoreanFranceSouth AfricaTurkeyRussiaJapanGlobal average�10.8%Chapter 2Changes in the LandscapeIn the premium car market, traditional brands and emergent brands, fuel car brands and new energy car brands, global brands and self-own...