Source: Photo.com
Porsche ran into an even bigger dilemma.
In the past, Porsche's label was that it could not be bought at a higher price, but now it is difficult to sell even if it is reduced at a lower price.
With the decline in sales, many Porsche models were sold at reduced prices. According to the financial data, the price concession space given by Paramela this year has reached more than 10%, and according to the reference data of smart cars, the price of Porsche 911 has been reduced by 15%, and the price of Porsche's entry-level Macan car series has even been discounted by 20%.
In addition, Porsche's value preservation myth has also been shattered, Porsche once dominated the market with a three-year car retention rate of 97.3%, but it is reported that in the second-hand market, Paramela, which landed at 1.4 million in 2022, has depreciated by nearly 500,000.
According to the financial report data, in the first three quarters of 2023, Porsche's sales in China fell by 12% year-on-year, especially in the third quarter, Porsche's sales in China plummeted by 40% year-on-year.
Many netizens said that they were not surprised by this, and most netizens believed that Porsche's current decline in sales was not only a problem of its own, but also the result of increasingly fierce market competition.
Affected by the weak auto market, the year-on-year decline has become the mainstream performance of the luxury segment, and the decline in sales of luxury brands in the first half of the year is reasonable, but the decline of different brands is still different.
Despite the rapid development of luxury cars in China over the past decade, the industry as a whole is still some way from reaching saturation. As of 2019, China's luxury car sales penetration rate is around 13.8%, and the global average luxury car penetration rate is 10.8%, which is slightly higher than the global average. Many luxury car brands have also begun to adapt to the market development, increasing their efforts to develop the Chinese market and introduce models to provide support for their future sales, and the preliminary forecast is that by 2025, the market sales penetration rate of China's luxury cars is expected to exceed 18%.
McKinsey noted that the automotive industry is all taking action in the luxury market, with advanced connectivity, autonomous driving technology and the latest electrification in addition to traditional comfort, convenience, entertainment and safety features.
According to Cui Dongshu, secretary general of the passenger car association, the current growth of imported cars is mainly due to the growth of luxury cars, and the proportion of luxury cars has increased from 78% in 2019 to 91.6% in 2023. The proportion of imports of ultra-luxury cars remained stable, reflecting that the purchasing power of ultra-high-end consumer groups has actually risen.
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