Recently, the China Automobile Dealers Association released the "September 2024 China Automobile Retention Rate Research Report", which can give you a clearer understanding of the value retention of different car brands. Generally speaking, brands with a high retention rate tend to perform better in terms of quality, reputation and user reviews. Let's take a look at the changes in the retention rate in September this year.
Looking at the different types of vehicles, except for mid-size SUVs and MPVs, which increased in value retention in September, all other types of vehicles declined. Specifically, midsize SUVs and MPVs maintained their value at 52.1% and 63.3%, respectively, up 0.4% and 0.1% from August.
The value retention rate of compact cars and small SUVs in both markets is less than 50%, at 47.1% and 49.7%, respectively, down 1.4% and 0.7% from August. In addition, the value retention rate of small cars was 55.1%, a decrease of 2.3%, which is a significant decline; The retention rates of mid-size cars, medium-sized and large-sized cars, compact SUVs, and medium-sized and large-sized SUVs were 50.6%, 56.0%, 51.7%, and 55.7%, respectively, all of which were lower than in August.
When it comes to the retention rate of brands in different countries, the top five luxury brands are Porsche, Mercedes-Benz, Lexus, Land Rover and Tesla. Among them, Porsche was the only brand with a value retention rate of 69.0%, although it also fell by 2.4%. The bottom few brands also saw their retention rates decline, with only Tesla achieving growth of 53.1 percent, up 1.3 percent from August. Lincoln also grew and maintained its value at 52.1 percent.
Among the German luxury brands, BMW and Audi have declined in terms of value retention and are not in the top five. Other brands such as Cadillac, Volvo, Jaguar and Infiniti have also seen varying degrees of decline.
When it comes to joint venture brands, the top two are Japan brands, Honda and Toyota, which retain value at 56.9% and 53.6% respectively, with Honda falling a little and Toyota growing slightly. Mazda and Nissan, also from Japan, are also on the list, with retention rates of 51.6% and 50.1% respectively, but both have declined. Mitsubishi's retention rate is similar to that of August, but it has been withdrawn from the market in October last year.
Other joint venture brands such as Kia, Hyundai, Peugeot and Citroen all saw a decline in their value retention, especially Citroen, which fell by 2.3%. The value retention rate of Volkswagen, Ford, Buick, Skoda, and Jeep has increased.
For domestic brands, the retention rate of most brands also decreased in September. Trumpchi still maintains the lead, with a value retention rate of 58.3%, but it has also decreased slightly. It was followed by Lynk & Co and Wuling, with a retention rate of 52.7% and 52.6% respectively. Others, such as Haval, MG, Chery, Auchan, Baojun, BYD, Ideal, Hongqi, and Besturn, have also declined. Roewe was one of the few brands to grow, with a value retention rate of 49.9%.
In terms of new energy vehicles, with the popularity of new energy vehicles in the domestic market, the value retention rate of second-hand new energy vehicles is also increasing. The three-year value retention rate of plug-in hybrid models was 46.2%, an increase of 0.7% from August; The value retention rate of pure electric vehicles was 46.8%, an increase of 1.0%. This shows that the conditions for the use of electric vehicles have improved considerably, charging infrastructure is no longer an issue, and plug-in hybrid models are becoming more and more popular.
Overall, car retention is a factor to consider when buying a car, especially if you're buying a used car or planning to change it. However, the retention rate is not the only criterion, and the final choice should be determined according to the specific situation and needs of the individual.