Source: Financial Sector News
Brand loyalty definition: The loyalty in this report is "order loyalty", which is extracted from the big data of e-car, which refers to the proportion of users who placed a single brand in that year
Brand loyalty value: Measure the maturity of the car market and the care of the car company for the user
At present, there are still many people complaining that the Chinese car market is immature: the model design is still popular "copy paste", even if its annual sales are millions; maintenance is too bad, qiaoli more money; car companies recall twist and pinch, and there is no one to smoke a few whips... How exactly the taste of this pot of stew in China's car market will eventually "float out" in specific forms such as net recommendation rate, satisfaction, and loyalty;
Based on the past experience of the European and American auto markets and the actual development of the Chinese auto market, the e-car research institute classified less than 20% as the cultivation period of the Chinese auto market, 20% to 40% as the development period, and higher than 40% as the maturity period. Based on this standard, we can simply measure the development stage of China's auto market and help the majority of car companies better implement the value concept of "user-centered".
During the 14th Five-Year Plan period, in addition to new energy, does China's auto market have a more critical strategic main line?
As of the beginning of 2022, most car companies have announced clear strategic goals for the 14th Five-Year Plan period, among which the sales targets of Great Wall, Geely and Changan in 2025 are 4 million, 3.65 million and 3 million vehicles respectively. Among them, the main strategic line is new energy, and the new energy target of the Great Wall in 2025 is 80%, Chang'an is 35%, and Geely hopes to account for 30% of the new energy market. The strategic main line of overseas brands such as Volkswagen, Toyota, and Mercedes-Benz in the next five to ten years is also mainly centered on new energy, including in the Chinese market;
New energy is important, but during the 14th Five-Year Plan period, is there a new strategic main line that is more important, more practical and more urgent than new energy?
In 2021, brand loyalty in China's passenger car market rose to 18.24%, further enhancing the actual value of car companies in studying the topic of "retaining old users"
In the exchanges between E-Car Research Institute and the majority of car companies, it is generally found that everyone's enthusiasm for studying how to retain old users and enhance loyalty is not particularly high, because in the past ten years, China's auto market has been dominated by first purchases, brand loyalty is relatively low, and it is still in the cultivation period of old users;
As a non-commercial think tank in China's auto market, e-Car Research Institute is quite interested in studying brand loyalty, and has been optimizing the methodology in recent years, doing a good job in the reserve and refinement of basic data, and some discoveries have been made during the period. From 2016 to 2021, the brand loyalty of China's auto market has been on the rise, and the increase in the past two years has been faster, rising to 18.24% in 2021, and it is estimated that it will exceed 20% in 2022-2023;
In 2020, the proportion of additional purchases in China's auto market has risen to 60%, and it is expected to reach 80% in 2026, from this point of view, the study of the topic of "retaining old users" is imminent.
In 2021, the new car offensive is immediate, and Lincoln leads the mainstream brand loyalty rankings
From 2020 to 2021, Lincoln set off a new round of new car offensive based on SUVs, quickly produced adventurers, aviators, navigators, etc., attracted many old users, brand loyalty quickly exceeded 30%, and won the loyalty list of mainstream brands in the Chinese car market in one fell swoop; due to the lag in model updates, Lexus painfully lost the top position in the list;
In the second half of 2021, Toyota accelerated the launch of a number of high-level new cars such as Lufang, New Highlander, and Sena, and rapidly increased brand loyalty to 29.94%;
In 2021, Hongqi is still the leader in China's brand loyalty rankings, and Changan, Geely, Auchan and others have made significant progress. The Great Wall's Haval, WEY, Euler, etc. are ranked in the loyalty TOP20;
In 2021, the brand loyalty of Audi, Mercedes-Benz and BMW will not be satisfactory, so as not to be surpassed by new brands such as Tesla.
In 2021, Chinese brand loyalty continued to increase, overseas ordinary brands performed weakly, and overseas high-end brands suddenly declined
As Chinese brands are still mainly first-time buyers, they are still at the bottom of the brand loyalty rankings of the three camps, but they have performed well and maintained a significant upward trend, rising to 17.38% in 2021;
In recent years, overseas ordinary brands have quickly launched new cars suitable for purchase such as SUVs, barely maintaining brand loyalty, and in 2021, it will increase slightly to 18.79%;
The rapid rise of new high-end brands such as Tesla, Ideal, Weilai, and Tank has attracted many old users of mainstream high-end brands such as Audi, Mercedes-Benz, and BMW, resulting in a sharp decline in the overall loyalty of overseas high-end brands, falling to 23.51%.
In 2021, Chinese brand loyalty rose to 17.38%, Hongqi continued to lead, and mainstream Chinese brands such as Haval, Changan, and Geely increased strongly
In 2021, H9, HS5, HS7 and other high-level models continue to exert efforts, and Hongqi's loyalty rises to 29.56%, continuing to lead the Chinese brand loyalty ranking;
In 2021, thanks to the new upgrade of the CS series, the emergence of the Auchan X series, and the alternative path of the UNI series, it has attracted a large number of old users such as micro-surfaces, mini cars, small cars, and compact cars, and achieved a strong increase in the loyalty of Changan Automobile, Changan Auchan and other Changan series;
A big dog is like a stroke of God, not only lighting up the Haval system, but also attracting a large number of old Haval users, and Haval loyalty will rise to 21.43% in 2021;
In 2021, "China Star" car series such as Xingrui and Xingyue L have made strong efforts, attracting a large number of old users and helping Geely's brand loyalty rise to 20.58%;
At a time when the loyalty of Lynk & Co and Trumpchi has been loosened, at the end of 2021, Lynk & Co 09, the new Trumpchi GS8 and so on have fallen from the sky, and it is just in time.
"China Star" boosts Geely's sales focus from the first purchase to the exchange, during the 14th Five-Year Plan period, Geely will usher in the arduous test of "retaining old users"
The wheelbase of Xingrui and Xingyue L has reached the level of 2800mm and above, and the core price area has reached 120,000-180,000 yuan, in theory, the "Chinese Star Team" is very suitable for retaining the long-term series, Emgrand series and other Geely old users. In 2021, the "China Star Team" began to emerge, and in the first two months of 2022, Xingrui and Xingyue L jumped to the forefront of Geely's own sales, and helped Geely's brand loyalty jump to 20.58%;
The rapid rise of Geely brand sales is concentrated in 2016-2019, 2020-2021 to maintain a million vehicles, the above users will be a large-scale influx of car exchange market during the 14th Five-Year Plan period, which means that during the 14th Five-Year Plan, Geely will usher in the arduous test of "retaining old users", "China Star" launched the first shot of Geely's "user defense war".
Tank 300 helped Great Wall Motors to grab the additional users of overseas brands
In recent years, many overseas brands have quickly laid out medium-sized SUVs and medium-sized SUVs suitable for purchase, and generally achieved good sales, but there are not many hardcores that are suitable for additional purchases. The tank 300 listed at the end of 2020 is cleverly positioned, the main hardcore, suitable for additional purchases, focusing on 200,000 yuan, the price is affordable, effectively hit the layout weakness of overseas brands, and attracts many old users of overseas brands;
In the second half of 2021, more than 50% of the tank 300 users were purchased, nearly four became exchanges, and the monthly sales continued to increase, breaking through 10,000 at the end of the year. In 2022, if you can increase the size of the hybrid, and ensure the price advantage, according to the pace of accelerating the shift from the first purchase to the increase and replacement of the consumption center of gravity in the car market, the good results of the monthly sales of 40,000 or 50,000 vehicles in the past such as Langyi, Xuanyi, and Haval H6 are likely to be copied to the tank 300;
From the initial victory of tank 300, two new strategic thinking can be extracted: first, the layout of the car purchase market is a new path for Chinese brands to challenge overseas brands, tank 300 is like a sharp blade, directly inserted into the soft underbelly of joint venture car companies; second, the majority of car companies should dialectically look at the topic of "retaining old users", although tank 300 has hardly replaced old users, but Volkswagen, Buick, Geely and other competitors have ah.
During the 14th Five-Year Plan period, Chinese brands urgently need to transform and upgrade from the first purchase to the purchase change, and the research on the topic of "retaining old users" is imminent
Changan, Geely, Haval and other mainstream Chinese brands, concentrated in the 13th Five-Year Plan period, the above users will enter the purchase market on a large scale during the 14th Five-Year Plan period, theoretically will provide new opportunities for overseas brands such as Volkswagen and Toyota who are good at competing in the car market, and Chinese brands will face a very severe and inexperienced "old user defense war";
In 2021, BYD and other Chinese brands will test their knives in the energy-saving car market, and from 2022 to 2023, mainstream Chinese brands will strengthen the launch of energy-saving hybrid models and will set off a powerful "energy-saving offensive". It is recommended that the majority of Chinese brands, based on the energy-saving new car offensive, actively think about how to "retain old users" and realize the transformation of sales focus from first purchase to replacement, as the core interest appeal of energy-saving strategy;
During the 14th Five-Year Plan period, if the new energy strategy of Chinese brands can be actively laid out around the front of the transfer of old Chinese brand users from first purchase to replacement, it may be able to exert greater value!
In 2021, the loyalty of overseas ordinary brands will increase slightly to 18.79%, Toyota will continue to lead, and the polarization of the internal camp will become more and more serious
In 2021, the top 3 overseas ordinary brand loyalty is still Toyota, Volkswagen and Honda. The first three are all more than 23%, the rest are below 16%, and the polarization of the overseas ordinary brand camp is further intensified;
In 2021, Toyota launched a new round of offensive, successively producing a large number of high-level multi-functional new vehicles such as Lufang, New Highlander, Lingfang, and Sena, and continued to lead the loyalty ranking of overseas ordinary brands;
In 2021, Volkswagen's SUV sales in China accounted for more than 30%, and the loyalty rose to 28.54% as well as high-end models such as continuously supporting the territory;
From 2017 to 2021, overseas ordinary brands strengthened their SUV strategies on a large scale, retaining many replacement users, but in the car market, overseas ordinary brands generally lack targeted product layout.
In recent years, Toyota and Volkswagen have actively laid out a price area of more than 150,000 yuan, and constantly consolidated their advantageous position in the "old user defense war"
In 2021, the reason why Volkswagen and Toyota can lead the loyalty ranking of overseas ordinary brands is closely related to the fact that the two continue to consolidate the multi-functional car market such as SUVs and MPVs of more than 150,000 yuan: in 2021, in addition to launching higher-level new cars such as Lanjing, Volkswagen has also initially built two major families of Tanyue and Tiguan L, forming a diversified product matrix of mainstream + cross-border X+ PHEV; 2021 is Toyota's product year, casting a number of new cars such as Sena, New Highlander, and Lufang. Most focus on multi-functional car markets of more than 150,000 yuan;
Although the loyalty of Volkswagen and Toyota is at the forefront of the market, in the past ten years, the two have accumulated huge old user resources, with more than 20 million Volkswagen vehicles and More than 10 million Toyota vehicles in 2013-2021. During the 14th Five-Year Plan period, compared with most brands, Volkswagen and Toyota are facing a more severe "old user defense war", which is only the beginning.
During the 14th Five-Year Plan period, toyota and Volkswagen's sales focus will face the severe challenge of how to achieve large-scale penetration from the replacement car market to the additional car purchase market
In recent years, the product layout of Volkswagen and Toyota has mainly revolved around the car exchange market, and it is extremely lacking in products that are more suitable for increasing the purchase of car markets such as personality, sports, and hardcore, even if Volkswagen has launched individual models such as Tiguan X and Tanyue X, it is only to look at the personality point. Toyota was subject to double integration and directly discontinued the mid- to large-sized hardcore SUV Land cruiser and Prado, which were very suitable for the additional car market;
During the 14th Five-Year Plan period, although the purchase is still the main body of China's car market, the additional purchase will become a new blue ocean, at present, Volkswagen and Toyota, which are mainly based on exchange, urgently need to actively layout the additional car market.
During the 14th Five-Year Plan period, overseas ordinary brands urgently need to accelerate the penetration from the car exchange market to the additional car purchase market, and it is urgent to study the topic of "retaining old users"
In the overseas ordinary brand camp, in the face of how to "retain old users" of the problem, although Volkswagen, Toyota has a certain pressure, but not the largest, good villains in the car exchange market has a good performance, Peugeot, Citroen, Jeep, Kia, Skoda, Ford and a lot of rapidly marginalized brands, but the pressure is great, not only to think about how to compete for the old topic of the car market, but also to think about how to compete for the new topic of the car market;
During the 14th Five-Year Plan period, it is the critical period for the survival of the above-mentioned marginalized brands in the Chinese auto market, such as playing cards according to the conventional routine of first buying and then buying, it may be too late, it is better to put it to death and then be born, desperately lay out the additional car market, such as GAC-Jeep domestic Wrangler, SAIC Chevrolet domestic Camaro, etc.;
During the 14th Five-Year Plan period, if the new energy strategy of overseas ordinary brands can be actively laid out around the old users from the car purchase market to the additional car market, it may be able to play a greater value!
In 2021, the loyalty of overseas high-end brands suddenly fell to 23.51%, and BMW, Audi, and Mercedes-Benz all suffered declines
In 2021, based on the new car offensive, Lincoln's loyalty has increased significantly and led the ranking of overseas high-end brands. Lexus lost the top spot due to the lag in model updates;
The loyalty of BMW, Audi and Mercedes-Benz has declined to varying degrees;
The loyalty of most of the second camp overseas high-end brands such as Volvo, Land Rover and Cadillac has also suffered a general decline;
In 2021, the overall decline in overseas high-end brand loyalty shows that the internal structure of the subdivision car market is undergoing drastic changes.
During the 14th Five-Year Plan period, overseas high-end brands urgently need to accelerate the penetration from the high-end mainstream car market to the high-end subdivision car market, and it is urgent to study the topic of "retaining old users"
In 2021, China's high-end car market has undergone a sudden change, Tesla, Ideal, Tank and other cutting-edge high-end brands have quickly increased: Model Y and Model 3 wings double-flying, Tesla terminal sales exceeded 300,000 vehicles, robbing many Audi, Mercedes-Benz, BMW and other old users with new energy, automatic driving purchase intentions; Ideal, Tank, although each only has an ideal ONE, tank 300 models, but the sales are close to 100,000, also robbed a lot of Audi, Mercedes-Benz, BMW and other old users who have the intention of purchasing self-driving tours;
During the 14th Five-Year Plan period, China's high-end car market's new energy, automatic driving, self-driving travel and other subdivision consumer demands will be more intense, once the product layout of mainstream high-end brands such as Audi, Mercedes-Benz, BMW, etc., can not effectively penetrate from the high-end mainstream car market to the subdivision car market, not only will continue to encounter the challenge of the loss of old users, but also face the challenge of new users being intercepted;
During the 14th Five-Year Plan period, the new energy strategy of overseas high-end brands can be actively laid out around the front of the old users from the high-end mainstream car market to the high-end subdivision car market, or it may play a greater value!
During the 14th Five-Year Plan period, retaining old users is the strategic main line of the majority of car companies
During the 14th Five-Year Plan period, Chinese brands urgently need to be transformed and upgraded from the first purchase to the purchase of exchange, overseas ordinary brands urgently need to accelerate the penetration from the car exchange market to the additional car market, and overseas high-end brands urgently need to accelerate the penetration from the high-end mainstream car market to the high-end subdivision car market, of which the study of "retaining old users" is a common topic of the majority of car companies;
During the 14th Five-Year Plan period, the brand loyalty of China's auto market will continue to increase, and it is expected to rise to 30%, and the urgency of studying the topic of "retaining old users" will be further highlighted;
During the 14th Five-Year Plan period, it is important for car companies to actively lay out electrification and intelligence, but "retaining old users" is the strategic main line of the majority of car companies. If we can based on the strategic main line of "retaining old users", we can have a targeted layout of electrification and intelligence, and we can achieve more effective results with half the effort.
To crack the problem of "retaining old users", the key is to focus on "increasing the purchase of storm eyes"
In the past decade, the sales volume of China's auto market has been highly concentrated in the car market with a wheelbase of 2600-2750 and a price of 100,000-150,000 yuan, accumulating a large number of users: the brand ownership TOP10 in 2013-2021 exceeded 5 million vehicles, and mainly from the above regions; the top 10 model ownership in 2013-2021 came from the above areas;
During the 14th Five-Year Plan period, the old users in the above-mentioned areas will pour into the car purchase market in large numbers, which will become a key factor in the new competitive pattern of china's car market, and the e-car research institute will summarize the effect as "the eye of the storm of increasing and exchanging purchases";
During the 14th Five-Year Plan period, the majority of car companies want to effectively solve the problem of "retaining old users", the key is to pay close attention to the "eye of the storm of increase and exchange", deeply understand the specific demands and flow directions of old users in the region, and actively adjust their product layout.