Auto Market Beat – Q1 – China – March 2020
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Report Summary
“With the rough start and overall sales being impacted by the outbreak in the first quarter of 2020, how to show an outstanding performance in the following quarters becomes a common question for brands. From the perspective of product development, Toyota, BMW and Mercedes-Benz gained positive growth against an overall drop, by consistently launching variants together with their marketing strategies of interacting with consumers. When it comes to marketing channels, traditional offline marketing models were impacted significantly since the outbreak, which boosts the share of online marketing that initially has grown along with the penetration and impact of social network. Brands should actively maintain and further engage with users in the immediate interactive formats such as live streaming by enhancing their collaboration with auto KOLs at different stages of marketing process.”
– Terence Zhou, Senior Research Analyst
This report looks at the following areas:
- COVID-19’s impact on the auto industry in China
- New emission standards drive luxury car brands to clear stock by lowering overall stock
- Car purchase tax returned with the 10% rate which dampened consumers’ spending enthusiasm
- Subsidy policies phased out, new energy cars shortlisted in the knockout
Table of Contents
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Overview
- What you need to know
- Covered in this Report
- Excluded
- What you need to know
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Executive Summary
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- Analysis on the market conditions
- COVID-19’s impact on the auto industry in China
- New emission standards drive luxury car brands to clear stock by lowering overall stock
- Figure 1: Provinces and cities where China VI emission standards have been implemented
- Car purchase tax returned with the 10% rate which dampened consumers’ spending enthusiasm
- Subsidy policies phased out, new energy cars shortlisted in the knockout
- Figure 2: Latest new energy passenger car subsidy policy, 2018 vs 2019
- Figure 3: Energy density multipliers, 2018 vs 2019
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Sales Volume Overview
- With Chinese New Year approaching, sales volume of passenger cars decreased by 25.8% month-on-month in January
- Figure 4: Overall sales and production volumes of new passenger cars, November 2019-January 2020
- SUVs getting more popularity may result from increasing travel demand during Chinese New Year
- Figure 5: Sales share of new passenger cars, by car model, November 2019-January 2020
- Top-selling domestic SUV brands are less concentrated and remain in low-price competition
- Figure 6: Top 10 best-selling SUVs, January 2020
- Intensified competition in the cost efficiency among saloon cars priced at RMB100,000
- Figure 7: Top 10 best-selling sedans, January 2020
- Joint venture brands lowering the pricing range led to poor performance of domestic brands
- Figure 8: the sales share of new passenger cars, by country, November 2019-January 2020
- Hard to meet the mileage requirements for trips during Chinese New Year, BEVs saw a significant decline in the sales volume
- Figure 9: Sales volume of new passenger cars, November 2019-January 2020
- Luxury cars: stable sales volumes, replacement demands retain
- Figure 10: Sales volume of luxury cars, November 2019-January 2020
- With Chinese New Year approaching, sales volume of passenger cars decreased by 25.8% month-on-month in January
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Interpreting Brand Performances
- Volkswagen sales volume impacted by the CIRI assessment results
- Figure 11: Market share of auto brands, November 2019-January 2020, ranking by the brand market shares in January 2020
- Figure 12: CIRI front 25% offset crash test results of Volkswagen Passat
- Toyota: car models evolved, market share enlarged
- Figure 13: Sales volume of all Toyota car models, November 2019-January 2020
- Honda gains market share through compact SUV
- Figure 14: Sales volume of all Honda models, November 2019-January 2020
- Figure 15: Honda Inspire
- Hyundai saw a big loss of market share in January due to a lack of vitality in product update
- Figure 16: Sales volume of all Hyundai models, November 2019-January 2020
- BMW and Volvo saw a significant increase in their PHEV sales
- Figure 17: Top 10 best-selling BEVs, ranking by sales volume in January 2020
- Figure 18: Top 10 PHEVs, by sales volume in January 2020
- Mercedes-Benz, BMW and Cadillac all actively launched model variants and achieved good sales
- Figure 19: Market share of luxury car brands, by market share in January 2020, November 2019-January 2020
- Figure 20: Sales volume of all Audi models, November 2019-January 2020
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- Figure 21: Sales volume of all Mercedes-Benz models, November 2019-January 2020
- Figure 22: Sales volume of all BMW models, November 2019-January 2020
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- Figure 23: Sales volume of all Cadillac models, November 2019-January 2020
- Discussion
- The NEV era might dawn in 2023
- Volkswagen sales volume impacted by the CIRI assessment results
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Marketing Campaigns
- BMW: a ‘grocery car’ for an ‘instagrammable’ food market
- Figure 24: BMW x Sanyuanli market campaign
- Accentuate the mistake: Audi’s marketing campaign was phenomenal
- Figure 25: Audi’s marketing incident
- Fiat’s cross-boundary collaboration with Bvlgari and Armani
- Figure 26: Fiat 500e designed by Bvlgari and Armani
- The new BMW logo accelerates BMW’s brand rejuvenation
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- Figure 27: New BMW logo
- Volkswagen sends fans on a scavenger hunt
- Figure 28: The secret Passat showroom for by Volkswagen in Sweden
- Live streaming of new model launches in the time of coronavirus
- Figure 29: Online product launches of Audi and Porsche
- Discussion
- How to leverage auto influencers in digital marketing
- BMW: a ‘grocery car’ for an ‘instagrammable’ food market
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Technological Innovation
- Investing in autonomous food delivery robots
- Figure 30: REV-1
- Figure 31: JD’s autonomous delivery robots
- BMW launches a NEV model with a range of 600 km along with its new logo
- Figure 32: BMW i4
- No driving licence required to drive Citroen’s mini BEV in France
- Figure 33: Citroen Ami
- Customised ride-hailing service
- Figure 34: Havn
- Investing in autonomous food delivery robots
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Appendix – Market Size and Forecast
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- Figure 35: Total sales volume of new passenger cars, China, November 2019-January 2020
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Appendix – Market Segmentation
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- Figure 36: Total sales volume of new passenger cars,China,November 2019-January 2020
- Figure 37: Total sales volume of PHEVs,China,November 2019-January 2020
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Appendix – Methodology and Abbreviations
- Methodology
- Abbreviations
- Methodology
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