Core Insights - The sales of German luxury car brands in China have significantly declined, with BMW, Mercedes-Benz, and Audi all reporting varying degrees of sales drops in 2023 [2][4][6] - The market share of German luxury brands has been eroded by domestic competitors, particularly in the price range of 200,000 to 400,000 yuan, where brands like Tesla and NIO are gaining traction [4][5] - The shift towards electric and intelligent vehicles is still lagging for German luxury brands, with their electric models not achieving significant sales figures [6][7] Group 1: Sales Performance - BMW's sales in China for Q3 2023 were 147,100 units, a slight decrease of 0.4% year-on-year, while the total for the first three quarters was 464,000 units, down 11.2% [2] - Mercedes-Benz experienced a more severe decline, with Q3 sales of 125,000 units, down 27%, and a total of 418,000 units for the first three quarters, down 18% [2] - Porsche's sales in China for the first three quarters were 32,200 units, reflecting a 26% year-on-year decrease [2] Group 2: Market Dynamics - The retail market share of German brands dropped from 18.4% in January to 14.3% in September 2023, with luxury brand retail share at 10.8%, down 0.8 percentage points year-on-year [5] - Domestic brands are increasingly competing with German luxury cars across various price segments, leading to a notable shift in consumer preferences [4][5] Group 3: Electric and Intelligent Vehicle Transition - German luxury brands are facing challenges in the electric vehicle segment, with models like BMW's iX3 and iX1 showing low sales figures, maintaining around a thousand units per month [6] - Analysts suggest that the transition to electric and intelligent vehicles is crucial for German brands to remain competitive against new entrants in the luxury market [6][7] - Adjustments in electric vehicle strategies have been made, with brands like Audi and Mercedes-Benz revising their timelines for phasing out internal combustion engines [7]
德系豪车为啥不香了？在华销量不振，市场份额被蚕食