Note: Definition of luxury brands—average transaction price > 300,000 RMB.
There have been significant shifts in the landscape of luxury brands:
- Audi and NIO’s average prices remain below 300,000 RMB, while Li Auto, Volvo, and Lincoln are hovering around the 300,000 RMB mark.
- The market has formed five tiers:
- Tier 1: BMW and Mercedes-Benz
- Tier 2: Li Auto and AITO
- Tier 3: Lexus and Volvo
- Tier 4: Denza, Land Rover, Lincoln, and Porsche
- Tier 5: Audi and NIO (due to average prices below 300,000 RMB)
Sales Performance:
- BMW:
- June: average price 320,000 RMB, sales 69,704 units (+1.5% YoY)
- First half of 2024: sales 363,787 units (-5.4% YoY)
- Mercedes-Benz:
- June: average price 423,000 RMB, sales 59,645 units (-13.3% YoY)
- First half of 2024: sales 350,692 units (-10.1% YoY)
- Li Auto:
- June: average price 305,000 RMB, sales 47,738 units (+46.8% YoY)
- First half of 2024: sales 192,921 units (+36.6% YoY)
- AITO:
- June: average price 396,000 RMB, sales 42,643 units (+848.9% YoY)
- First half of 2024: sales 180,192 units (+639.4% YoY)
- Lexus:
- June: average price 365,000 RMB, sales 15,685 units (-4.2% YoY)
- First half of 2024: sales 84,849 units (+20.0% YoY)
- Volvo:
- June: average price 314,000 RMB, sales 13,365 units (-10.8% YoY)
- First half of 2024: sales 73,356 units (-1.0% YoY)
- Denza:
- June: average price 369,000 RMB, sales 9,911 units (-5.6% YoY)
- First half of 2024: sales 49,624 units (-4.0% YoY)
- Land Rover:
- June: average price 728,000 RMB, sales 5,906 units (-13.4% YoY)
- First half of 2024: sales 37,340 units (-8.3% YoY)
- Lincoln:
- June: average price 301,000 RMB, sales 4,882 units (-30.5% YoY)
- First half of 2024: sales 28,097 units (-14.6% YoY)
- Porsche:
- June: average price 796,000 RMB, sales 4,362 units (-36.5% YoY)
- First half of 2024: sales 26,674 units (-39.4% YoY)
Additional Brands of Interest:
- Audi:
- June: average price 270,000 RMB, sales 55,621 units (-20.3% YoY)
- First half of 2024: sales 329,377 units (+2.5% YoY)
- NIO:
- June: average price 287,000 RMB, sales 19,587 units (+77.8% YoY)
- First half of 2024: sales 86,627 units (+53.4% YoY)
- Zeekr:
- June: average price 268,000 RMB, sales 18,038 units (+90.1% YoY)
- First half of 2024: sales 83,175 units (+103.2% YoY)
