"Circle Layer" Fan Jun
Edited by Chen Ji
In recent years, women have gradually grown into a new force for consumption in the new era. According to the 2021 New Economy Series Report, there are about 400 million women aged 20 to 60 in China, and the Chinese female consumer market is as high as 10 trillion yuan, with strong consumption strength and "she economy" is rising.
"She economy" is rapidly sweeping the major consumer markets, with the prosperity of "her economy", women's consumption in the automotive field has also expanded rapidly, becoming a new growth point in the era of fierce competition in the automobile track. According to the "China Good Life Survey (2020-2021)" released by CCTV Finance, women surpassed men in automobile consumption for the first time in 2020.
Recently, Tencent Auto released the "2022 Survey Report on Women's Car Purchase Needs and Car Habits", and its statistics show that 60% of female users participating in the survey prefer SUVs, followed by cars, with 48%.
On the occasion of the "March 8th" International Goddess Day, we launched a special plan to take stock of the goddess car who can dominate the sales list?
"She economy" rises
According to data released by the Ministry of Public Security, the number of motor vehicles in the country will reach 395 million in 2021, including 302 million cars; the number of motor vehicle drivers will reach 481 million, of which 444 million will be car drivers, accounting for 92.24% of the total number of drivers. In terms of driver gender, male drivers reached 319 million, accounting for 66.32%, and female drivers 162 million, accounting for 33.68%.
It is worth noting that in the past three years, the number and proportion of female drivers have shown a continuous upward trend. For example, in 2020, the number of motor vehicle drivers in the country reached 445 million, of which the number of car drivers reached 418 million, and the number of female drivers was 148 million, accounting for 32.5%.
While the number of female drivers has increased, the proportion of women who buy cars has also surpassed that of men. According to data from the China Automobile Dealers Association, the proportion of women buying cars in 2020 reached 22.28%, which has exceeded the 22.00% of men. In addition, women account for 26.62% of the owners of new energy vehicles, which is 1.22 times that of women among the owners of fuel vehicles.
In terms of automobile consumption, it is expected that the proportion of women in decision-making will gradually be equal to that of men. According to data from iResearch Investment Research Institute, among the populations who retain capital, go to the store, test drive, and buy cars, women account for 38.5% from 23.6% in 2018 to 38.5% in 2019, with a growth rate of up to 63%, and it is expected that by 2022, the proportion of decision-making between the sexes in automobile consumption will gradually become similar, with men accounting for about 54.4% and women accounting for about 45.6%.
At the same time, women's contribution to car sales will gradually increase. The "Female User Insight Report (2020 Edition)" released by the E-Car Research Institute in June 2020 proposes that with the further significant trends of increased purchases, urbanization, and middle-aged, the contribution of female users to the Chinese auto market continues to increase; it is predicted that the contribution of female sales will reach 38% in 2025, boosting the sustained and rapid development of many emerging segments such as luxury cars, crossovers, and electric vehicles.
The female car buying market is on the rise, and women are more receptive to new energy vehicles than men. According to the "Big Data Report on Female Car Owners" released by the second-hand car auction platform every day, there are 3 female owners in every 10 car owners; in every 5 female car owners, there is 1 female owner after 90s; and the proportion of female owners of new energy vehicles is higher than that of male owners.
In addition, didi platform data shows that the number of female drivers who have earned income on the platform in 2020 is 2.37 million, becoming part of the supporting force of the Internet ride-hailing platform.
At the 2021 China Automobile Consumption Forum, Wen Sijing, director of the Membership Department of the China Automobile Dealers Association, shared the "2020 Female Car Owner Service Experience Report" and said that with the development of China's economy, the proportion of Chinese women receiving higher education is constantly increasing, and the social and economic status of "sisters" has also risen, and women have become the main force in China's consumer market, and the same is true in the automotive industry. Female consumers are not only content to sit in the co-pilot, they also have to pick up the steering wheel to grasp the direction.
Looking at the automobile consumer market, it is not difficult to find that with the continuous enhancement of women's independent economic ability, it has also promoted their consumption strength in the automobile market. According to the "2020 Female Car User Insight Report" released by the China Automobile Dealers Association and the Car Emperor, with the rise of the "she economy", the potential of female users' car consumption needs to be released urgently, and the increase in high-intention car users is obvious, and female car users increased by 64% from February to October 2020.
Who knows better about the "woman's heart"?
With the rise of the "she economy" in the field of automobile consumption, many automobile companies have specially tailored new energy vehicle products for female users, and have made efforts in terms of performance, appearance, interior, etc., to enrich the car scenes of female users.
Cars that focus on the female consumer market are constantly being updated. On March 7, on the eve of the "3.8 Goddess Day", the new model of The Chinese high-end car brand Xingtu, the Goddess of the Wind Edition, was launched, officially opening the era of "her power" marketing, with the new value of "we women, not inferior" as the core, opening up a new female consumer segment.
As a sub-brand of Great Wall Motors, the Euler brand has also clarified the brand direction of focusing on women. From the previously exposed ballet cat listing conference project bidding announcement, it was learned that as a new compact pure electric car created by the Euler brand, the Euler ballet cat will be officially launched on March 30, and will once again pluck the heartstrings of women.
In fact, in the field of new energy vehicles, Euler has a unique perspective around "her economy" and distills the phrase "car brand that loves women more". Looking back at 2021, Euler's cumulative sales 135028 vehicles, an increase of 140% year-on-year, ranking first in the domestic new energy vehicle market. Its Euler good cat sold 10,685 vehicles in December 2021, with single-month sales exceeding 10,000, a year-on-year surge of 430%, and won the A0-level BEV market sales champion of more than 100,000 yuan.
Whether it is the "Star Chasing the Wind Goddess Edition" or the "Euler Cat Series", in order to narrow the distance with female consumers, female car brands continue to add female elements, taking the model name as an example, such as Nezha V Witch Edition, Cool Goddess, Sweet Ice Cream and Macaron, BYD Dolphin, Wuling Hongguang MINIEV Macaron Series, Chery QQ Ice Cream Series, Cute Cat, Fengxing T5EVO Goddess Edition, as well as female perspective of Knight, Sakura and other words.
As a female-only car, the car strives to move closer to the preferences of women in terms of color, configuration, and service. For example, the front seat ventilation + heating, sunscreen + silent glass, etc., are designed around the needs of women's cars to attract female users, and women's models are more diversified.
In terms of price, women are biased towards low-end models. Soochow Securities said in the research report of "Four Long-term Problems in the Demand for New Energy Vehicles" that the models that contribute to the main sales increment of the automotive industry in 2021 correspond to different market segments and consumption types, and in the user portrait of the consumer group, the purchase of automobiles is the main consumption drive, women are the core group, and the low-end models contribute to the main sales.
From the perspective of specific model prices, Soochow Securities data shows that the sales volume of new energy vehicles below 50,000 yuan accounts for nearly 20%, mainly contributed by Hongguang Mini; 5-100,000 yuan of new energy vehicle sales account for about 14%, mainly contributed by Chery Small Ant, Euler Black Cat, Zero Run T03 and other products; 10-15 million yuan of new energy vehicle sales account for about 18%, mainly contributed by Qin PLUS DM-i, Dolphin, Euler Good Cat, Aian S and other products;
15-200,000 yuan of new energy vehicle sales accounted for about 17%, mainly contributed by Song PLUS DM-i, Xiaopeng P5, Aian V and other products; 20-25 million yuan of new energy vehicle sales accounted for about 12%, mainly by Tesla Model 3, Xiaopeng P7, BYD Han and other products contributed; 25-300,000 yuan of new energy vehicle sales accounted for about 11%, mainly contributed by Tesla Model Y; 25-30 million yuan of new energy vehicle sales accounted for about 11%, mainly contributed by Tesla Model Y;
The sales volume of new energy vehicles of 300,000-400,000 yuan accounts for about 6%, mainly contributed by products such as ideal ONE, NIO ES6 and BBA oil to electricity; the sales volume of new energy vehicles above 400,000 yuan accounts for about 4%, mainly contributed by NIO ES8, BBA new energy and other products.
From the above point of view, the sales volume of new energy vehicles below 150,000 yuan accounts for nearly 52%. In the consumption of low-end models with women as the core group, in terms of specific sales data, Chery small ants account for more than 70% of women; the price of Euler black cat is 50,000-100,000: focusing on the family women's purchase and single women's first purchase market, female sales account for more than 80%; Euler good cat women account for more than 80%.
Who can sell well?
Benefiting from the rise of the "she economy", women occupy an important position in the field of car sales, driving the rapid growth of car sales. According to the wholesale volume data of the Association, in January 2022, a total of 8 new energy models sold more than 10,000 vehicles per month, namely Tesla Model 3 (26548 units), Model Y (33297 units), BYD Han EV (10051 units), Song DM (16411 vehicles), Qin PLUS DM-i (18449 units), Dolphin (10602 units), Ideal ONE (12268 units), Wuling Hongguang MINI EV (37048 units).
In addition, in January 2022, there were several new energy models with outstanding wholesale performance, such as: Chery QQ Ice Cream (9984 units), Ben Ben EV (9852 units), Chery eQ (9412 units), Euler Good Cat (9020 vehicles), BYD Tang DM (8847 units), BYD Qin PLUS BEV (7086 units), Aian Aion S (7049 units), Xiaopeng P7 (6707 units), BYD Yuan EV (6596 units), Models such as the Nezha V (6482 units) are sprinting towards the goal of selling more than 10,000 vehicles per month.
With the rapid development of new energy vehicles in mainland China, the market is more diversified, there are more and more competitive products in the market, and the market share is gradually dispersed. From January 2021 to January 2022, the market share of the TOP10 models sold in new energy passenger cars in China fell from 58.4% to 44.8%.
Compared with the rapid decline in the concentration of new energy models, the concentration of car companies is relatively stable, from January 2021 to January 2022, CR10 fell from 78.1% to 71.7%, while CR5 only fell from 59.7% to 55.2%, and the head effect is obvious. With the rapid development and progress of the new energy vehicle business of mainland car companies, their respective competitiveness will continue to diverge, and the pattern will gradually become clear and optimized.
From the perspective of wholesale volume and market share of new energy vehicles, in the TOP5 of the wholesale volume of cars and SUVs in January, BYD accounted for 3 seats and 4 seats in the TOP10, and the advantage became more and more obvious; Tesla's two models Model 3 and ModelY were still strong, and ModelY continued to maintain the champion position in new energy SUV sales.
In addition, among the top 10 wholesale volume of new energy cars, 6 are A0/A00 class sedans, including Hongguang MINIEV, BYD Dolphin, QQ Ice Cream, BenBen EV, Chery eQ, and Euler Good Cat, with market share of 8.99%, 2.57%, 2.42%, 2.28% and 2.19% respectively, which is largely due to the gradual increase in the proportion of mainland users.
From the perspective of retail sales data, among the top 15 car companies in the retail sales of new energy passenger cars in January 2022, BYD continued to lead sharply, achieving sales of 92,788 vehicles; SAIC-GM-Wuling was 29,723 vehicles; Chery became a dark horse in the month with the outstanding performance of QQ ice cream and eQ models, ranking third in the rankings, achieving sales of 19,451 vehicles.
Among the top 15 car companies in terms of retail sales of new energy passenger cars in January 2022, only 3 are foreign/joint venture car companies, and the advantages of independent brands in the field of new energy vehicles are obvious.
The overall sales performance of major domestic car companies is good, and the new energy business has increased year-on-year. In January this year, SAIC, Changan, GAC and Dongfeng achieved sales growth of about 10%, the sales of independent new energy brands increased more significantly, BYD (an increase of 125%), GAC Eian (118%), Great Wall Euler (29%) and other brands and Xiaopeng (115%), Weilai (34%), Ideal (128%), Nezha (402%), Zero Run (434%) and other new power brands have achieved a substantial year-on-year increase.
Guohai Securities expects that with the launch of key models such as BYD Han DM-i, BYD Destroyer 05, NIO ET7/ET5, Xiaopeng G9 and other key models in 2022, and the debut of more blockbuster models at the Beijing Auto Show, the new energy explosive models will be greatly expanded, driving the market to continue to grow.
Car companies grab the beach "she economy", who can continue to dominate the sales list, let us wait and see.