GM(US:GM) 智通财经网·2025-10-17 06:36Core Insights - The implementation of the national vehicle replacement subsidy policy has significantly boosted passenger car sales in September 2024, leading to an unexpected growth in the domestic car market despite high growth pressure earlier in the month [1][5] - Buick has emerged as a key player in this growth, achieving a year-on-year sales increase, which highlights the brand's effective market strategy and adaptability in a challenging environment for traditional joint venture brands [1][7] Market Performance - In September, wholesale sales of passenger cars reached 2.8 million units, marking a historical high for the month and a 31,000 unit increase from the peak in June [4] - Buick's sales performance stands out with a year-on-year increase of 11%, contrasting with the overall decline in retail sales among mainstream joint venture brands [6][7] Sales Trends - The retail sales trend for passenger cars in China is expected to show a rise from September to December 2024, driven by the vehicle replacement policy [5] - The overall retail sales growth for mainstream joint venture brands declined by 6% in September, indicating significant challenges in the current market environment [6] Buick's Strategy - Buick's success can be attributed to its precise positioning of models and proactive marketing strategies, which have effectively attracted consumer attention and translated into sales [7] - The Envision Plus model achieved a record monthly sales figure of 11,841 units in September 2024, showcasing Buick's competitive advantages in brand image, product quality, and pricing strategy [8] Pricing Strategy - The "one-price" strategy has been successful for Buick, providing consumers with a transparent and stable pricing experience, which enhances brand trust and encourages purchases [9] - This pricing approach has contributed to the reverse growth of models like the Envision Plus and LaCrosse, as it simplifies the buying process for consumers [9] Consumer Demand Insights - The diverse consumer demand indicates that fuel vehicles remain suitable for middle-class families in urban areas, despite the rise of electric vehicles [12] - Buick's performance in the market reflects a combination of factors, including effective pricing strategies, product strengths, and the influence of the national vehicle replacement policy, providing valuable insights for other automotive brands [12]