Haier Group founder Zhang Ruimin once lamented: "There are no successful companies, only companies of the times." The times will eliminate companies that cannot keep pace with the times, even if they have had glorious years and were once leaders and trendsetters. .
Specific to the automotive field, this change of times does not seem to be so obvious. "Old aristocrats" such as BBA ( Mercedes-Benz , BMW , Audi ) have a development history of more than a hundred years and are properly "century-old stores". As the world's best-selling luxury brand, BBA is still the king of the global luxury brand car market. Taking the production and sales data in 2021 as an example, Mercedes-Benz has global sales of more than 2.4 million vehicles, BMW has global sales of 2.52 million vehicles, and Audi has global sales of more than 1.68 million vehicles, still leading the global luxury brand car sales list.
In contrast, as the "big brother" of the new global car-making force, Tesla has become the "leader" of the second echelon of luxury brands with annual sales of 936,000 vehicles, but it is still far behind the BBA. distance. As for the representatives of China's new car-making forces - Nio, Xpeng, Ideal, etc., their annual sales have only crossed the threshold of "100,000 vehicles" in the initial stage.
However, it is undeniable that new car-making forces represented by Tesla have begun to encroach on the traditional luxury brand market such as BBA. Especially in the field of new energy vehicles, traditional luxury brands have not shown their charm, and their sales are far inferior to those of new car-making forces.
So, can the new car-making forces take advantage of the historical opportunities brought by electrification and intelligence to achieve a counterattack against BBAs? I think it's entirely possible, it just takes time. This is because the right to define products for luxury brands is gradually shifting. In the past, Mercedes-Benz represented luxury and elegance; BMW represented sportiness and handling; Audi represented low-key restraint and business. However, in the wave of "new four modernizations", BBA is no longer the "spokesperson" for electrification and intelligence.
In the minds of Generation Z consumers, "no intelligence, no cars", some young consumers have linked the level of intelligence to the definition of "luxury". The new car-making forces have just labeled themselves as “intelligent”.
When the right to define products is transferred, it means a change of times. Therefore, we can see that the leaders of new car-making forces have extremely strong technical confidence, product confidence and brand confidence. They are already openly challenging traditional luxury. brand status. For example, NIO has positioned itself as a luxury brand from the moment it was born. Li Bin, chairman of NIO, has said more than once: "We have successfully established a foothold in the mainstream high-end market" and "In the high-end In the market field, we have yet to see a brand that can fully compete with Weilai.” For another example, He Xiaopeng, chairman of Xpeng Motors, said that the chassis control of the Xpeng G94 is comparable to the Porsche Cayenne, and the NVH of the vehicle is comparable to the GLS Maybach, making it the best SUV within 500,000 yuan. For example, Li Xiang, chairman and CEO of Li Xiang, said that the driving experience of the Ideal L9 is not inferior to ultra-luxury models such as Rolls-Royce Cullinan, BMW X7, Mercedes-Benz GLS, and the price is 5 million yuan. The best family flagship SUV within China. Even Yu Chengdong, the managing director of Huawei who "helps car companies build good cars", also claims that the various data of the Wenjie M7 are more outstanding compared with BBA competitive models, and the experience will exceed that of million-dollar luxury cars.
Regardless of whether these leaders are bragging, the self-confidence conveyed by their words is something that the older generation of Chinese car people do not have. In the past, although Chinese carmakers have been working tirelessly to learn and catch up with foreign luxury brands, they often used words like "get closer and rival them".
When new car-making forces begin to "conquer cities and territories" by relying on the product advantages brought by advanced technologies such as electrification and intelligence, it means that the "deep trenches and high barriers" previously established by traditional luxury brands are beginning to loosen, and the development of one thing and another will disappear. The trend has been established.
Therefore, we see that the production and sales of new car-making forces are sprinting from "100,000 vehicles" to a higher goal, while the traditional "old aristocrats" have realized that the threat is growing and must innovate themselves to meet the challenges. As a result, BBAs have also begun to accelerate electrification and intelligence, and a game between old and new forces has begun.
Some people say that when an elephant turns around, he is still powerful; when a lion wakes up, he is still the king of the jungle. However, it should also be noted that the burden of fuel vehicles carried by BBAs is too heavy. In 2021, Mercedes-Benz's new energy vehicles will only account for about 4% of its total sales, Audi's pure electric vehicle sales will account for nearly 5%, and even BMW's new energy vehicle sales, which were electrified earlier, will only account for 13%. This means that traditional luxury brands still face huge pressure for electrification transformation, even if they have established strategic development plans to accelerate electrification.
Under the impact of the "new four modernizations", who will be more favored in the luxury car market in the future? BBA, which is accelerating electrification and intelligence, or the new car-making force that has the genes of electrification and intelligence from the beginning? I believe the market will give the final answer.
Text: Zhang Zhongyue Editor: Li Qing Layout: Zhao Fangting
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