Group 1 - The core issue facing automotive dealers in China is highlighted by a survey indicating that 52.6% of dealers are experiencing financial losses as of the first half of 2025, with only 29.9% reporting profits [1] - Only 30.3% of dealers achieved their sales targets for the first half of the year, with 29.0% of dealers completing less than 70% of their targets [3] - Luxury brand dealers performed better in meeting sales targets compared to joint venture and independent brand dealers, with a higher proportion of joint venture dealers failing to meet their targets [3] Group 2 - A significant 74.4% of dealers are facing price inversion issues, with 43.6% experiencing price drops exceeding 15%, leading to severe cash flow challenges [4] - The strategy of "exchanging price for volume" has resulted in a situation where sales increase does not correspond to revenue or profit growth, with new car sales contributing a negative gross margin of -22.3% [4] - The gross margin contributions from after-sales services and financial insurance are 63.8% and 36.2%, respectively, indicating a reliance on these services for profitability [4] Group 3 - There is a notable divergence in the performance of new energy independent brand dealers versus traditional fuel vehicle dealers, with 42.9% of new energy dealers reporting profits compared to only 25.6% of traditional dealers [5] - New energy dealers show positive gross margin contributions across all business segments, while traditional fuel vehicle dealers report a negative gross margin contribution of -29.1% from new car sales [5] - The rapid growth in demand for new energy vehicles is reflected in a cumulative retail volume of 5.468 million units in the first half of 2025, marking a year-on-year increase of 33.3% [5]
52.6%经销商亏损,43.6%陷价格倒挂,新能源盈利率42.9%
Sou Hu Cai Jing·2025-08-20 06:23