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市場調査レポート
中国の高級車市場 - 成長、動向、予測（2019年～2024年）China Luxury Car Market - Growth, Trends, and Forecast (2019 - 2024) |
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| 発行 | Mordor Intelligence LLP | 商品コード | 866624 | ||||
| 出版日 | ページ情報 | 英文 60 Pages 納期: 2-3営業日 |
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| 中国の高級車市場 - 成長、動向、予測（2019年～2024年） China Luxury Car Market - Growth, Trends, and Forecast (2019 - 2024) | ||
| 出版日: 2019年05月01日 | ページ情報: 英文 60 Pages |
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中国の高級車市場は、2019年から2024年にかけて8.69%のCAGRで推移すると予測されています。
当レポートでは、中国の高級車市場を調査し、市場の概要、車両タイプ・動力源別の市場規模の推移と予測、市場の成長要因および阻害要因の分析、市場機会、競合情勢、主要企業のプロファイルなど、包括的な情報を提供しています。
The China Luxury Car market is anticipated to register a CAGR of about 8.69% during the forecast period (2019 - 2024).
The Chinese luxury car market has been segmented by vehicle type and drive type.
Premium Automakers and Second-Tier Brands Gaining Market Traction
In 2018, the sales volume of China's luxury car market reached 2.82 million units, a year-on-year growth rate of 8%, however, the growth rate was relatively slow. In 2017, the sales volume of China's luxury car market was 2.61 million units, a year-on-year growth rate of 17%.
Currently, major premium car brands in the country like Audi, Mercedes-Benz, BMW, Jaguar Land Rover, Volvo, Lincoln, and Infiniti have already decided to cut suggested retail prices on models sold in China in response to the government's VAT drop policy for the manufacturing industry. However, it can't be anticipated that whether the price cut will boost sales performance in the future.
In February 2019, BMW became the leading brand in the country with a monthly sales volume of 44,582 units (including the sales of Mini cars). Whereas Mercedes-Benz saw a drop in sales. Mercedes-Benz registered a year-on-year drop of 5.4% in February 2019. In February 2019, the sales of Audi A4L jumped 16.7% over the year-ago period to reach 10,888 units and the deliveries of the Audi Q2L reached 1,337 units. SAIC-GM saw its sales in February 2019 decline 38.9% from FY 2018 to 11,007 units, however, the company still held top position in teh second-tier luxury car brands.
Changing Policies and Tax Regulations
The country's luxury car market is led by European automakers, namely, Mercedes-Benz and Audi. As per the recent report from the China Passenger Car Association, the country's luxury sedan segment grew by ~18.8%, in the first 11 months of 2018, when compared to the same period in 2017. Additionally, the premium sport-utility segment increased by ~3.5%, between January and November, in 2018.
In terms of policy and taxation reforms, China is considering a tax cut to revive its weakened automotive market. The tax cut may aid the country in supporting its automotive sector, which was dented by the on-going trade war with the United States, as it impacted the consumers spending power. Apart from the trade war, the country's luxury car sales have been declining, owing to slow economic growth, weak currency, and loss in the stock market.
Irrespective of the aforementioned hindrances, the country witnessed steady growth in luxury car sales, as mentioned by Cui Dongshu, the Secretary-General of the China Passenger Car Association. To mitigate the effect of the trade war, companies, such as Mercedes-Benz, Audi, BMW, are planning to increase its China production, as the trade war is putting pressure on global luxury brands, including Mercedes-Benz, which exports US-made vehicles to China.
Additionally, luxury auto dealerships, such as Zhongzheng, China ZhengTong, and China Yongda, in order to mitigate the effects of trade wars and increase their profits, are selling non-US made cars. Additionally, luxury car manufacturers are also cutting down the prices of their vehicle models, to increase their luxury car model sales in 2019.
Other initiatives taken by the Chinese government, to boost the automotive sector and increase the sales of luxury cars in the country -
The China luxury car market is highly concentrated and majorly dominated by few players like Volkswagen AG, Daimler AG, Geely, Dongfeng, and BMW. Mercedes-Benz sold around 603,000 units of luxury cars in the country from January to November 2018 and achieved growth of 11.7%. Audi, which is part of the VW Group, witnessed an increase in its sales by 13%.
BMW also witnessed steady growth rate, and sold 577,000 units of vehicles in the first 11 months, achieving growth of 6.4% in comparison to 2017, and expected to witness the same or high growth in FY 2019-2020. The company is planning to introduce 21 BMW models into the Chinese market in 2019. If coupled with new models from other brands in the group, the total of new launches could reach 25.
