Reporter Xia Zhibin and Shi Yingjing of this newspaper reported in Shanghai
"Since 2019, J.D. Power and 58 Auto have jointly released the "China Auto Retention Rate Research Report" for four consecutive years. With the increase in the number of ownership of new energy vehicles, we will also include the pure electric vehicle retention rate list in the research scope this year."
On October 25, J.D.Power (Jundi) and 58 Auto jointly released the "2022 China Auto Retention Rate Research Report" (hereinafter referred to as the "Report"). Su Jun, President of J.D. Power China, told reporters such as " China Business News ".
Su Jun further stated: "For consumers, the retention rate is an important reference for their car purchases; for car companies, it is an important measurement indicator for brand management and vehicle model full life cycle value management. We hope to promote the awareness and attention of the retention rate in the entire industry and consumers by continuously outputting the value and data of the retention rate to the industry and consumers."
As we all know, at a time when the number of car ownership is gradually increasing, the positive effects of the used car market are also constantly being released. The complete cancellation of the policy of restricting second-hand car relocation, the implementation of separate signing and registration of second-hand car transfers, issuing temporary license plates, and the adjustment of the inspection time of non-operating passenger cars have greatly activated the second-hand car market.
. In the process of using cars, " car value retention rate " is a keyword. It is reported that the report released this time analyzes and displays the current status and value retention rate of the domestic used car trading market over the past year from multiple angles such as manufacturers, countries, and brands.
report shows that according to regional statistics, whether it is fuel vehicles or pure electric vehicles, second-hand car transactions in 2022 are concentrated in economically developed municipalities and provincial capital cities. In terms of best-selling models, second-hand fuel vehicles and second-hand pure electric vehicles are concentrated in the compact car and micro car levels respectively, and the transaction proportion is more than 30%. The high cost-effectiveness and economicality are the main reasons why the two major models are favored; the proportion of medium-sized cars and compact SUVs in the fuel vehicle trading market has increased, while the proportion of small cars and compact cars in the new energy vehicle trading market has increased, due to the improvement of consumers' economic level, and is not limited to the vehicle's transportation function.
J.D. Power pointed out that as competition in the automobile market intensifies and consumers become more rational in purchasing cars, the multiple value of the value retention rate for new cars, used car sales and various core businesses of car companies will be further highlighted. "Behind the high value retention rate is that a brand is recognized by consumers, reflecting the comprehensive strength of brand power, product power and service power. Car companies must establish an customer experience management system that runs throughout the entire life cycle in order to achieve the reshaping of brand value."
In terms of fuel vehicles, the reason why the value retention rate is an important indicator for measuring the value of a brand and a model is due to the scarcity of models and the high brand premium. It is understood that the retention rate of imported cars is higher than that of joint ventures and domestic models, and the retention rate of Japanese cars leads with absolute advantages, and independent brands continue to rise.
From the manufacturer's perspective, a total of 4 of the top five cars come from Japanese brands, with a high market share and a stable position in mainstream models, driving the overall manufacturer's value retention rate to be stable. Among them, Lexus ranked first, with a retention rate of 68.5%, followed by Dongfeng Honda and Porsche , with retention rates of 63.9% and 63.5% respectively.
reporter learned that among the independent brands of fuel vehicles, the overall retention rate of independent brands this year is better than last year, and the continued upward trend is significant, reflecting that consumers' recognition of independent brands is constantly increasing. This year's report shows that the overall retention rate of independent brands is 46.5%, an increase of 1 percentage point from last year. Beijing Off-road won the first place in the value retention rate of fuel vehicle manufacturers with 53.2%, GAC Trumpchi ranked second with 52.8%, and SAIC-GM-Wuling ranked third with 51.7%.
It is worth noting that with the continuous heating of the used car market for new energy vehicles, the value retention rate of pure electric vehicles has been included in the research scope for the first time this year. In fact, the retention rate of new energy vehicles is still restricted by the rapid attenuation of batteries and limited lifespan of electronic components.
research shows that the advantages of independent brands in the value retention rate of pure electric vehicle manufacturers are obvious, which is related to factors such as accurate positioning, new technology, and in place of subsidies.The annual retention rate of Tesla , Xiaopeng Motors , and NIO are all above 70%.
It is reported that independent brands have made early efforts in the field of pure electric vehicles and are highly recognized. A total of 12 models on the top 15 pure electric vehicles are from independent brands, and there are many new forces such as Xiaopeng P7 and NIO ES6. Hongguang MINIEV surpassed Model X with a retention rate of 85.3%, while Xiaopeng P7 ranked third with a retention rate of 82.5%.
(Editor: Shi Yingjing Proofreader: Peng Yufeng)
