In January 2022, the China Automobile Dealers Association and Jingzhen Valuation jointly released the "December 2021 China Automobile Retention Rate Research Report". Through the retention rate research, it aims to reflect the comprehensive strength of the brand's product strength, recognition, reputation, etc., and provide important data references for future repurchase, replacement, leasing, finance, new car pricing reference and other related businesses, thereby reducing business risks and improving operational efficiency.
Policy direction
Energy-saving and emission-reducing technologies are encouraged
In December, the Ministry of Industry and Information Technology (MIIT) released fine-tuning of the "double integral" accounting method. The policy direction of traditional fuel vehicles with low fuel consumption through advanced technical means is mainly "stability", and certain point reductions are given to brake energy recovery systems and efficient air conditioning, which effectively reduce fuel consumption. While practicing carbon peaking and carbon neutrality, the adoption of advanced technologies has been encouraged. Similar reductions and exemptions have been introduced in the 2020 annual points accounting.
Hot events
New measures to facilitate the people and benefit enterprises
The "Regulations on the Registration of Motor Vehicles", the "Regulations on the Application and Use of Motor Vehicle Driver's Licenses" and the "Measures for the Administration of Scoring points for road traffic safety violations" formulated and revised this time are important achievements of the public security traffic management departments to actively adapt to the new situation of economic and social development and "do practical things for the masses". The registration of used car off-site transactions has been promoted in some regions since September 2021. The current revision of the "Regulations on motor vehicle registration" implements the previous reform measures to the level of laws and regulations, and promotes institutionalization and legalization.
The volume of vehicles rebounded weakly
With the recovery of new car replacement in December, the supply of used cars also rebounded and grew. December's month-on-month growth is in line with the long-term seasonal trend, but compared with last year, there is still a significant gap in the number of vehicles in December 2021, the rebound is insufficient, and the operating risks of car dealers are still high. Chained and branded used car dealers are more able to resist the risk of market changes, which has become a trend in the development of the used car industry.
The SUV retention rate has increased
For a long time, the share of cars in the second-hand car trading volume is much higher than that of SUVs, but from the perspective of retention rate, SUVs have more advantages, and monthly data has also increased month-on-month, especially medium and large SUVs. Among the cars, although further subdivision can be found that the retention rate of medium and large cars is also relatively high, but there are more luxury brands, more brand premium components in the price of second-hand cars, and mainstream independent brands and joint venture brands rarely involve this segment. In addition, the sales of small cars are shrinking while the retention rate is increasing, a phenomenon that requires car dealers to make trade-offs between "quantity" and "price" in their operations.
Luxury brand retention rate hit a "new high"
Porsche's three-year-old retention rate "broke through 100", of which the price of popular models such as Cayenne, Panamela, Macan and so on is generally higher, and for C-end consumers, it is not cost-effective to buy a car this month. BMW is the most active in the electrification transformation among traditional manufacturers, although the product update is faster, but in the sales link still adopts the old method of "price reduction promotion" at the end of the year, and the retention rate declines in the short term. In addition, the BMW iX3 has also recently been recalled.
The retention rate of joint venture brands increased
The retention rate of mainstream joint venture brands increased month-on-month, the difference between brands was not obvious, and the price increase of used cars became a common phenomenon. The high price of some Japanese brand models has also become a problem hindering the transaction of second-hand cars, and deliberately controlling the price is not beneficial to the overall healthy development of the market, objectively causing a chaotic situation that both the supply and demand ends are opaque.
The JEEP brand has risen significantly
The price of used cars of joint venture brands is still mainly "stable", of which the JEEP brand continues to release new cars, and consumers' confidence in the brand in the future has increased. Used car brands are more valuable. The slight change in the retention rate of the Citroën brand is related to the media attention of the C5X model.
The retention rate of independent brands has generally increased
The rise in the value retention rate of Trumpchi mainly comes from the rise of Trumpchi M8, GS8 and other car series, and the continuous release of new models of GS8 and M8 has promoted brand promotion. Roewe's retention rate has risen for many consecutive months, and the brand has changed from the new lion label to the personality presentation of the family model under the appearance of the new national tide, continuous brand innovation, and the precise positioning of the national tide products, which will bring continuous attention and also have an improving effect on the retention rate. SAIC's officially certified used cars carried out user activities in eight cities at the end of the year, and the price of certified cars provided a reference basis for car dealers and played a positive guiding role. Among its own brands, there are still fewer brands that carry out certified used cars.
New energy vehicle insurance was officially launched
Insurance products should be regarded as an important supporting facility in automobile consumption. New energy vehicles did not have perfect insurance products before, and the launch of new insurance products marks that the "supporting facilities" of new energy vehicle consumption are more perfect. Insurance is an important part of the cost of using a car. When buying a car for the first time, the insurance cost has also been tied to the price of the new car, which has become an important factor affecting consumers' decision to buy a car. After New Year's Day in 2022, the price of new energy vehicles will begin a new round of reconstruction, which includes the impact of subsidy decline, the impact of insurance costs, and may also include the impact of battery rental. At present, some manufacturers have carried out a series of "insuring" measures.
The retention rate of new energy vehicles continues to increase
By the end of 2021, the cruising range of new pure electric vehicles has been able to reach 1,000 kilometers. The general mileage of used cars has also reached the passing level of 300 kilometers, which can meet the basic commuting needs. The mileage indicator directly affects the price of used cars. Plug-in hybrid models are dominated by independent brands in the second-hand market, and among the three-year-old vehicle sources, BYD and Roewe brands occupy more than half of the total share. These two brands have a big impact on the retention rate of the market segment.
The retention rate of major models varies
The overall changes in new energy vehicles this month have been uneven, and in the performance of key models, Hongguang MINI EV has ranked first for two consecutive months, and the king of cost performance is deserved. The retention rate of R automotive ER6 increased slightly to 73.4%.
WeChat public number: used car wisdom Pan Pan (id: carman228)
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