With the overall cold weather in China's auto market, the imported car market has continued to decline this year.
According to the news released by China's imported automobile market database, the supply and demand of China's imported cars in April both fell again, with a decline of 27.7% and 21.13% respectively. Compared with the first quarter of this year, the decline further increased, BMW, Mercedes-Benz, Toyota, Audi, Volkswagen and other imported cars "big family" can not escape. Even in the first quarter of this year, the MPV model, which still maintained a certain increase, also experienced a certain degree of decline in the monthly import volume.
In this regard, Wang Cun, senior manager of SINOMACH Marketing Department, told the reporter of “Daily Economic Newsâ€: “At present, China’s imported car market has entered a comprehensive adjustment period.â€
It is worth noting that due to the sharp drop in the sales volume of imported cars, the imported car inventory once again encountered the “red line†warning, and the inventory factor reached 5.1 in April, hitting a new high. At the same time, the preferential price of the imported car market also reached 11.2%, and also climbed to an all-time high.
MPV declines for the first time China's import auto market database released data show that in April this year, China's passenger car imports were 90,900 units, down 27% year-on-year. Compared with the first quarter of this year, the decline has further increased. In the first quarter of this year, China's passenger cars imported a total of 256,100 vehicles, down 17.1% year-on-year.
With the acceleration of the supply of imported cars, the import volume of major imported brands such as BMW, Mercedes-Benz, Audi, Toyota and Volkswagen has also declined to varying degrees.
Among them, the BMW brand is still ranked first in the imported car brand, but its import volume in April was 12,400 units, down 19.8% year-on-year; the import scale was second only to BMW's Mercedes-Benz, and the import volume in April was 12,000 units, down 10.15% year-on-year. During the same period, the import volume of Audi, Toyota and Volkswagen brands was 0.53 million, 0.64 million and 0.53, respectively, down 33.88%, 7.31% and 29.47% respectively.
Among them, the import volume of SUV models was 57,600, a decline of 25.4%. In the first quarter of this year, the import volume of SUV models decreased by 16%.
The two SUV brands Land Rover and Jeep, which had previously steadily increased sales, have been dragged down in the import market. Last year, Jeep, which once surpassed BMW's top import champion, also narrowed its sales growth in April this year, reaching 12.96%, compared with 50% in the same period last year. In contrast, Land Rover’s imports fell even faster, with imports of 0.7 million units in April, down 21.43% year-on-year. Wang Cun believes: "The decline in Land Rover's imports is not only due to Aurora's domestic production, but also because the current SUV market is also cooling."
Compared with SUV models, the decline in car imports was even larger, reaching 31.8%. It is worth mentioning that the imported MPV, which has maintained growth since this year, also fell for the first time, with a decline of 12.2% to reach 0.43 million.
So far, the three major categories of imported cars, SUVs and MPVs have entered the downtrend channel, and China's imported car market has entered the inventory adjustment period.
Inventories hit new highs According to the data released by the Chinese import automobile market database, the inventory coefficient of China's imported car market has reached 5.1 in April this year, hitting a record high. In the first two months of this year, the import vehicle inventory coefficient was below 5, and climbed to 5.08 in March.
In this regard, Wang Cun said: "This is mainly because the market demand for imported cars is accelerating cooling."
According to the statistics of the National Imported Cars Joint Conference, the sales of imported cars in April this year reached 74,500 units, down 21.3% year-on-year, and the decline was further increased. In the first three months of this year, the sales volume of imported cars fell by 20.8%, 16.6% and 21%.
In April of this year, sales of major imported cars such as BMW, Audi and Land Rover also showed a downward trend. Among them, BMW sales fell 5.9% year-on-year to 11,000 units; Audi fell 14.7% year-on-year to reach 0.57 units; Land Rover's decline was as high as 30%. "Under the rising inventory pressure, the preferential rate of imported cars in April reached a new high, reaching 11.2%." Wang Cun said.
In fact, the preferential rate of imported cars in China has been kept at a high level this year. In January of this year, the preferential rate of imported cars in China reached a historical high, reaching 10.7%. Although it was adjusted back in February, it still reached 10.5%. In March, it increased again to 10.7%, and the average preferential amount reached 69,000 yuan. The average amount of the monthly discount reached 75,000 yuan.
According to the "Daily Economic News" reporter understands that the current preferential price of the BMW X5, the main model of the imported car market, remains at around 200,000 yuan; the range of the Land Rover Range Rover is also around 300,000 yuan; last year, the price has been relatively stable. The preferential rate of S 320 is about 150,000 yuan.
In order to reduce inventory pressure and promote dealers to improve profitability, many companies have begun to adjust their development strategies. On May 12th, Shanghai General Motors officially adjusted the price of Cadillac's main selling models. The market-guided price of imported cars SRX was reduced by about 30,000 yuan, and the new starting price was 399,800 yuan.
Wang Cun believes that for imported cars, due to the large market discount, the price after the official price cut will not be lower than the current market terminal transaction price, so the official price cut is more to stimulate the eye, in order to stimulate sales. But whether it can lift sales is still to be seen.
The analysis believes that if more imported car companies actively adjust the supply and demand relationship of the market, it may be expected to drive the imported car market to pick up.
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