In November, the value retention rate of luxury brands, Lexus was still strong, and Tesla dropped by half in three years
In China's auto market, luxury brand users are becoming more rational and pay more attention to the value retention rate. On December 1, the China Automobile Dealers Association and Jingzhen Valuation jointly released the "November 2023 China Automobile Retention Rate Research Report", let's take a look at the latest luxury brand retention rate ranking including Tesla in this report, and see which brands maintain their value well and which brands of used cars fall quickly.
The first place is still Porsche, according to the latest statistics, Porsche's three-year car age retention rate is 81.5%. It seems that Porsche is still a luxury brand preferred by Chinese consumers, and it is also a hard currency in the used car market.
The second place Lexus, in November, the brand's three-year car age retention rate reached 73.9%, second only to Porsche, and at the same time the top three BBAs of Mercedes-Benz, BMW, and Audi continued to be pressed behind. Although with the overall decline of Japanese cars, Lexus has also fallen into the dilemma of sales and brand development, but the value retention rate does not seem to have been affected, which also confirms Lexus's excellent product quality stability and after-sales service reputation.
Mercedes-Benz, BMW and Audi are the top three BBAs in third, fourth and fifth place respectively, but the three-year car retention rate is below 70%. But on the whole, in addition to Lexus, four of the top 5 on the list are German luxury brands, which shows the influence of German cars in the luxury market.
Sixth-placed Lincoln may come as a little surprise, with the brand's three-year retention rate reaching 60.3% in November, almost on par with Audi. This comes from the sincerity of Lincoln products in terms of products and prices in response to the needs of domestic consumers in recent years, and at the same time, the price of new cars is rarely discounted by 20% like other brands. To a certain extent, this also protects the interests of brands and users.
Land Rover's three-year vehicle age retention rate in November reached 59.4%, ranking seventh, in fact, the gap with Audi and Lincoln is also very small, and it is slightly higher than the value retention rate in October.
It is worth paying attention to Tesla, in January, Tesla ranked sixth on the list of luxury car retention rate, and the 3-year vehicle retention rate data reached 54.2%, which is basically a new car sold at half price after three years, which is not as good as Land Rover and Cadillac value retention. This should have something to do with Tesla's volatile new car prices. In addition, there has been controversy about whether Tesla is a luxury brand or not.