In the domestic luxury car market, it has long formed a first-line luxury brand led by Mercedes-Benz, BMW and Audi, and a second-line luxury brand pattern dominated by Lexus, Cadillac, Volvo and Jaguar Land Rover. It is also true that most consumers choose luxury cars, and they are basically inseparable from these brands. But even if the environment is like this, it has not affected other luxury brands want to do a big job in the Chinese market, here we have to mention last year's Entry into China's Jenisses, this luxury brand from South Korea, how has it developed in China?
In a word, it doesn't sell very well. According to the number of new car traffic insurance purchases, in the first quarter of 2022, Jeniss sold 298 vehicles in China, of which 86 Genises GV80, 42 Jenisses G70s, and 170 Jenicas G80. With less than 300 cars sold in a quarter, Jennissee's performance is hardly good.
Why is Deniss unsatisfied?
In fact, as a new brand, it is difficult for us to deny Genissy through a few months of achievements, after all, any new thing needs time and space to grow. However, starting from the environment in which Geniseis is located, it is still very difficult for it to break through in the domestic luxury car market.
First, there is the question of product competitiveness. Frankly speaking, Genises' models do have the texture of a luxury brand in terms of appearance, interior, workmanship and materials, but it is still slightly cramped in terms of space. Take the cheapest-priced Geniseth G70, for example, the wheelbase of this car is 2835mm, which is not only not superior to the BBA in the same class, but also 112mm shorter than the Cadillac CT5. In general, luxury cars after domestic production like to elongate the model, which is also to meet the needs of consumers, and Geniseses obviously needs to be strengthened.
Secondly, it is the problem of popularity, because whether a car sells well or not depends not only on the product strength, but more importantly, the brand value behind it, if you do not have a brand cultural background, it is difficult to be recognized by domestic consumers. According to the data, the luxury brand of Genisys was founded in 2015, and such a young resume wants to seize the high-end market, which is too tender in our popular words. Ask a simple question, drive Geniseth out for a walk, and guess how many people will know you? This gap obviously comes out, after all, it is the face that buys the luxury car map.
In addition, There are not too many Stores in Jinisais in China, which will undoubtedly affect its sales. According to the official website, at present, Genissy only has brand centers in Shanghai, Chengdu, Nanjing, Hangzhou, Guangzhou and other places, and there are only 8 brand directly operated stores, so some people who want to buy may also face the embarrassment of no local stores.
Korean cars have long lost their commanding heights in sales
Of course, from the perspective of the current market environment, in fact, there are not many luxury cars that sell well, because BBA occupies half of the market, leaving very little room for second-tier luxury brands to play.
In addition to the more familiar Brands such as Cadillac and Lexus, most second-tier luxury cars are very dismal in sales. For example, the DS from France, although it has the title of the presidential car, it is not very popular with the Chinese people, and now it is also in the position of the tail of the second-line crane. For example, Acura from Japan, the market performance continues to be sluggish, and sporadic sales have also made the luxury brand announce some time ago that it will no longer produce and sell GAC Acura's existing products in 2023.
It can be said that there are not a few luxury brands that are "unsatisfied with the soil and water", and the same is true for Genisesy from South Korea. In the past, if you talk about Korean cars, most people will think of high value, high cost performance, etc., luxury cars seem to have nothing to do with it. Not to mention that with the rapid development of domestic cars, Korean cars have long lost the commanding heights of sales, and the performance of mainstream Korean brands in the domestic market is not very good, or even in a state of decline every year. Data show that from 2016 to 2021, the market share of Korean cars in China's passenger cars was 7.35%, 4.63%, 4.98%, 4.7%, 3.8% and 2.4%, originally compared with German or Japanese cars, the joint venture aura of Korean cars is not too strong, and later after being robbed of the limelight by domestic cars, the living environment of Korean cars is obviously more and more difficult. As a Korean luxury brand, Jenisses is more difficult to achieve both brand premium and product premium, which also means that it is difficult to be recognized by Chinese consumers.
Editor's note
From the perspective of overseas markets, Korean cars are actually more competitive than domestic cars, and the sales ranking has always been in the forefront. However, in the domestic market, Korean cars have obviously declined, which also makes it difficult for its luxury brand to make a big difference, that is, convenient Nisses is a good car, but no one appreciates what is the use?
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