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昔日報告:
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豪車銷量逆勢走好,消費升級進行中

數據顯示,中國經濟2018年下行壓力較大,整體乘用車銷量同比下滑6%至2272萬輛,迎來20年來首次年度下跌。在整體車市疲軟的背景下,中國豪華車市場逆流而上,成爲除了新能源汽車外爲數不多的一大亮點之一。全年豪華車累計銷量則達到287萬輛(經銷商零售口徑統計),同比增長10.7%,占整個乘用車零售總量的12.5%,同比增長1.7個百分點。

其中,“德系三强”寶馬奔馳奧迪去年在中國的銷量均超過60萬輛,分別同比增長7.7%,10.3%,和11%;沃爾沃在中國市場需求助力下則首次全球銷量突破60萬輛大關,其在中國市場銷量增長14.1%至12.06萬輛,超越捷豹路虎;“純進口”的豐田雷克薩斯,去年在中國總銷量突破16萬輛,同比大幅增長21%,凱迪拉克也憑藉國産化車型暢銷,錄得22.8萬輛的銷售量,同比大升31.8%。同時,豪華品牌産品的布局結構和入門級車型價格下探,也正不斷給正奮力推進品牌升級的自主品牌較大的壓力。

我們認爲,一二綫城市的限購限牌政策以及不斷緊張的道路資源,爲汽車消費升級提供了廣闊的土壤和空間,孕育巨大市場。

過去一年,吉利的高端品牌領克(LYNK&CO),長城的魏派(WEY),上汽的名爵、廣汽的傳祺,其車型體系/技術積累已經能够支撑與部分外資品牌一較高下。但品牌形象和售後服務等後端服務,依然存在較大的提高空間。

撰稿: 章晶研究分析員
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