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豪华车阵营加速洗牌 沃尔沃押注混动赛道突围
Zhong Guo Jing Ying Bao·2025-05-14 08:32

Core Insights - The penetration rate of new energy vehicles (NEVs) in China's overall passenger car market reached 51.1% in March, an increase of 8.7 percentage points year-on-year, with luxury vehicles having a penetration rate of 35% [1] - Traditional luxury brands are facing challenges in the electric vehicle (EV) transition, primarily due to a lack of competitive products, despite still being favored by consumers [1][4] - The competition among luxury brands is intensifying, with significant price reductions observed, particularly for brands like Mercedes-Benz and BMW, which have seen discount rates approach 20% in recent years [1] Market Trends - In March, luxury car retail sales were 250,000 units, a year-on-year decline of 7% but a month-on-month increase of 68%, with a retail market share of 12.9%, down 3 percentage points year-on-year [3] - Domestic brands are rapidly capturing market share in the luxury segment, with their share increasing from 6.5% in 2022 to 21.0% in the first five months of 2024, driven by electric and intelligent vehicle offerings [4] Strategic Developments - Volvo is focusing on a dual approach of pure electric and hybrid models to create a comprehensive new energy product matrix, aiming to fill market gaps and target the luxury D-segment SUV market [5][8] - The new SMA (Scalable Modular Architecture) hybrid platform is designed to enhance Volvo's competitive edge, emphasizing scalability, intelligence, safety, and sustainability [7] - Volvo's XC70, built on the new SMA platform, is positioned to redefine the luxury D-segment SUV market, with expectations of becoming the "first luxury super hybrid vehicle" [8] Future Outlook - The luxury D-segment SUV market is projected to exceed 1.2 million units by 2025, while the overall luxury hybrid vehicle market is expected to be around 40,000 units in 2024, indicating significant growth potential [8] - Volvo aims to increase its market share in China, leveraging digitalization and intelligent enhancements to solidify its presence [9]