Ultra-luxury car sales fell 35% in the first quarter

The house leaked with continuous rain. Super car manufacturers and dealers are nowadays much worse off. According to data from the China Imported Automobile Trading Company (hereinafter referred to as "Zhongjin Auto & Trading"), the growth rate of ultra-luxury vehicles in the first quarter of this year has fallen by 35% year-on-year, while the growth rates in 2010 and 2011 were respectively 154% and 80%.

The slowdown in the macro economy has affected the performance of ultra-luxury vehicles. Recently, it was reported that ultra-luxury brand models with prices exceeding 1.7 million yuan may be subject to luxury tax in the future, which may make the ultra-luxury car market Cooling in the short term. Hu Bo, general manager of the Volkswagen brand of Volkswagen (China) Sales Co., Ltd., said in an interview with the "First Financial Daily" that if the tax is imposed, it will affect the growth rate of the ultra-luxury car market.

The consulting firm Kearny issued a report in the first half of this year and stated that it is expected that China will become the world's largest ultra-luxury automobile market by 2017, as the number of ultra-high-net-worth people, the main customer of China's ultra-luxury cars, will further increase. So-called ultra-high-net-worth individuals are the most potential buyers of ultra-luxury cars. The net assets of such people are generally over 100 million yuan.

Slowing growth

In the first quarter of this year, Bentley's global sales increased by 25.75% to 2122 units from 1,759 units in the same period last year, but in the Chinese market it decreased by 179.9% to 474 units from 547 units, while Bentley sold 578 units in the Chinese market in the first quarter of 2012. Vehicles, up 84.9% year-on-year.

Bentley's sales volume in China in the first quarter of this year declined, even though its largest distributor group in China, DCH Holdings, was not spared. DCH has invested in seven Bentley dealerships in Shanghai and Zhengzhou.

“The sales of Bentley of our group declined in the first quarter and was similar to that of the entire market. Our Bentley sales fell more sharply in the first half of the year, which should exceed the decline of 20% year-on-year. The cause of the obvious decline in Bentley’s sales was due to Bentley’s flagship model. In the new and old transition period, last year, the old models have already been sold out, and the new speeding has not yet arrived. Now the vehicles that can be sold in the store are mainly Mushan and sports car Continental GT with more than 500 million yuan.” Huang Lixin, general manager of Dachanghang East China headquarters, told Our reporter.

Huang Lixin also believes that the slowdown in macroeconomic growth and even the increase in the base number of ultra-luxury vehicles also affected the sales of Bentley in the first half of this year.

Not only did Bentley's sales decline in the first quarter significantly, but the growth rate of the entire ultra-luxury vehicle market showed a decline. China Import & Export Statistics showed that the ultra-luxury vehicle market fell 35.19% year-on-year in the first quarter of this year.

"This year, the ultra-luxury car market will not continue to maintain growth, and it may shrink somewhat," said Stephan Winkelmann, president and chief executive of Lamborghini Automobile Co., Ltd. in an interview at a Shanghai auto show. "Before 2012, the market has been growing steadily." After that, it will stabilize or even decline slightly.” For the future development of the Chinese market, Stephan Winkelmann stated that if there is no increase in taxes this year, he believes that Lamborghini’s sales can be equal to last year, but if it continues to increase taxes, Lamborghini this year The sales volume may decline.

Kelly Automobile analyst Zhou Weiquan analyzed in his report on the ultra-luxury car market. According to the research of ultra-luxury car makers and dealers, 2013 will become a turning point in the economy, and ultra-luxury cars will not show significant sales growth.

Luxury tax can not beat super car

“Even if the ultra-luxury car market slows down, the growth rate is still better than that of luxury cars and mid- to low-end models. The competition in the ultra-luxury car market has not yet reached the point of short-swinging. Currently, the base of the ultra-luxury car market is more than a few years ago. To be high, but not big enough, there is room for growth in the future,” said a general manager of a car dealership group in Shanghai.

The reporter was informed that some dealer groups are still investing in the super-luxury car market. Yongda Auto just invested in a Jaguar Land Rover 4S shop in Zhengzhou in June. The group is still considering plans to invest in ultra-luxury brand outlets in the second half of the year.

“The purchase of vehicles by the consumer groups in the ultra-luxury market is not a functional consideration, but a symbol of face and personal status. The value of ultra-luxury cars depends on their brand value, not on sales. In the long run, the ultra-luxury car market Demand continues to increase as the number of affluent people increases, and the negative effects of taxation have only had a temporary effect. In 2008, the government imposed a high import tax on luxury cars, but after a year, the sales of luxury cars will increase. It will rebound before the tax increase," Huang Lixin said.

Kearney also expects that China will become the world's largest ultra-luxury automobile market by 2017, and the annual growth rate will reach 16% to 20% by 2017. The main reasons for the increase in sales volume are: As people grow their GDP. The recovery is expected to rise, and it is expected that the ultra-high net worth population in each region will increase by 8% to 30% in the next few years.