Recently, Yu Chengdong, chairman of Huawei's intelligent vehicle solution BU, announced via Weibo that the M9 has sold more than 100,000 units in just six months after its launch.
The financial reporter visited the direct store of Wenjie Automobile and found that the consumers who mainly paid attention to and inquired about the M9 model were middle-aged and family users. According to store sales, car buyers pay more attention to business travel considerations.
According to official data, the price range of the M9 is 469,800-569,800 yuan. In the past, this price range was mainly monopolized by traditional luxury brands, but recent market feedback and data show that BBA brands are cutting prices and promotions, from "strong" to "declining", trying to "reduce prices in exchange for sales".
After successfully conquering the high-end SUV market and challenging the dominance of the BBA brand, the Xiangjie series cooperated by Huawei and BAIC will be launched in August, among which the Xiangjie S9 will be Huawei's new attempt to enter the field of luxury executive sedans. Whether it can replicate the brilliant achievements of the M9 remains to be answered by the market.
Who's buying the M9?
The financial reporter went to a Huawei Wenjie store in the Beijing area to investigate. The survey results show that the majority of people who experience M9 are younger, while it is more common for married people to bring their spouses and children to the consultation.
A Huawei store sales told a reporter from the Financial Associated Press: "The M9 is mainly for home users, as well as those business elites who buy more. After the reporter of the Financial Associated Press showed signs of hesitation between Mercedes-Benz and Wenjie, the salesman said that many customers consider brand influence when buying Mercedes-Benz and BMW, but now Wenjie also has a good performance, "and in terms of multi-device interconnection, Wenjie has more advantages than traditional fuel vehicles." ”
In fact, in addition to the SUVs of traditional luxury car brands, the Li L9 is also often compared to the M9 because the target audience of the two cars is similar.
According to public data, Ideal L9 has achieved monthly sales of more than 10,000 in the second half of 2023. However, at the beginning of 2024, the sales of the Ideal L9 will decline significantly compared to its peak. In May, for example, domestic sales were only 6,579 units, while the sales of the M9 reached 16,462 units, showing a significant increase.
According to a salesperson, unlike traditional home appliances and furniture, the advantage of the M9 is the intelligent driving technology, which is why some BBA and Porsche owners choose this model.
A Wenjie M9 owner told the Financial Associated Press reporter that he chose to buy the M9 because he was attracted by its technology and intelligent features. "After driving the M9 for a while, coming back to Porsche, I feel like I'm back in time without intelligent voice control and automatic door opening," he says. ”
Another M9 owner told the Financial Associated Press reporter that in order to experience the convenience of keyless, as an iPhone user, he deliberately bought a Huawei watch. "Although I'm used to using an iPhone, I can't connect to the vehicle due to Bluetooth connectivity issues," he says. Therefore, I bought the Huawei WATCH Ultimate, which can be unlocked without feeling and is used exclusively as a car key. ”
According to the data of Jaylan Road, the average age of the first batch of owners of the M9 is 37.3 years old, 30% of the owners are over 40 years old, the married rate is as high as 90%, the average number of people living together is 4.2, and there are multiple children.
The report also pointed out that most of the first owners of the M9 were additional purchasers or trade-in customers, of which luxury brands were the main source of trade-ins, accounting for about 50%. In addition, a certain proportion of sports cars and high-performance cars are also included in the purchase sources, such as Porsche 718, Mercedes-Benz GLE, AMG, etc.
Sales decline, BBA "price for volume"
It is worth noting that the recent price reduction of traditional luxury models has been on the hot search many times - "five-fold BMW", "Mercedes-Benz cut promotion", and even Porsche, which was previously "forced to the palace" by dealers to ask for subsidies, has also opened discount promotions.
A Porsche store in South China mentioned that the current discount on Taycan models is as high as 305,000 yuan. According to the investigation of financial reporters, the price reduction of various models of Taycan is more than 200,000 yuan. Other models such as the Cayenne and Macan also have price reductions of more than 100,000 yuan.
Netizens summarized the recent model discounts of large automobile dealer groups: among Mercedes-Benz models, GLS has the highest discount, with a price reduction of 200,000 yuan; The price of the BMW i3 has reached 48%, and it is sold at almost half price; Popular models such as the Audi Q3, A4L, Q5L, A6L, etc., have discounts ranging from 32% to 40%.
Zhu Yifang, minister of the China Automotive Strategy and Policy Research Center, pointed out that with the advent of the era of electric vehicles, the gap between independent brands and luxury brands in core technology is gradually narrowing, and the "moat" of traditional luxury brands has begun to waver, and their premium ability has weakened significantly.
According to sales data from the China Association of Automobile Manufacturers, retail sales of mainstream joint venture brands in May were 490,000 units, down 21% year-on-year. Among them, the retail share of German brands was 18.6%, down 2% year-on-year; The retail share of Japanese brands was 14.8%, down 3.2% year-on-year; The market share of U.S. brands was 6.7%, down 1.4% year-on-year.
According to the financial statements of various automobile manufacturers, in the first quarter of this year, the BMW Group's sales in the Chinese market were 187,500 units, a year-on-year decrease of 3.8%; Mercedes-Benz passenger car (including smart) sales in the Chinese market were 168,900 units, down 11.6% year-on-year; Only the Audi brand increased its sales in the first quarter, reaching 155,300 units, a year-on-year increase of 14%; Among them, the sales volume of pure electric vehicles was 4,970, a year-on-year increase of about 54%.
The current situation shows that the situation for second-tier luxury car brands may be more severe. Some industry insiders said that these second-tier luxury brands are facing fierce competition with BBA brands, and have entered a situation where prices can no longer be lowered.
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