Core Insights - BMW Group is experiencing a significant decline in its market share in China, with projected sales dropping from 820,000 units in 2023 to 625,500 units in 2025, a decrease of nearly 200,000 units, marking two consecutive years of year-on-year decline [1] - The core issue lies in the mismatch between BMW's global standardized vehicle development and the rapid iteration demands of the Chinese market, highlighting the inadequacy of traditional centralized decision-making in adapting to local consumer preferences [1][2] Global R&D System vs. Local Market Needs - The fluctuation in BMW's market share in China is fundamentally due to the disconnect between its global R&D system and the fast-paced demands of the Chinese market, which features an "18-month iteration per generation" cycle [2] - The iX3 electric vehicle, based on a fuel vehicle platform, has a longer development cycle compared to local competitors, resulting in slower localization and feature updates [2] Strategic Misalignment and Dealer Challenges - The strategic misalignment has led to increased inventory pressure on BMW dealers in 2025, with terminal price reductions becoming commonplace [3] - Reports indicate that the gross profit margin for the top 100 dealers in 2024 was 6.7%, with profitability under pressure in 2025, causing some BMW dealers to fall below the industry average [3] Changing Consumer Preferences - The luxury car market in China is shifting from a focus on "brand + mechanical quality" to "intelligence + experience + ecosystem," which is driving consumers away from traditional luxury brands [4] - In 2025, the penetration rate of new energy vehicles in the Chinese luxury car market exceeded 30%, while BMW's pure electric vehicle sales remain low, primarily due to reliance on modified fuel vehicle platforms [4] Strategic Initiatives for Transformation - BMW has designated 2026 as a critical year for transformation, planning to implement localized initiatives, including upgrading its Shenyang production base and collaborating with Huawei on a vehicle ecosystem based on HarmonyOS NEXT [5] - The investment of 20 billion RMB for the upgrade of the Brilliance BMW Dalian plant is aimed at enhancing technology innovation and preparing for localized production of new generation models [5] Decision-Making and Adaptation Challenges - The core contradiction in BMW's strategy lies in balancing global standardization with local decision-making authority, as seen in the development of the new generation iX3, where core technology is still controlled by the Munich headquarters [6] - The collaboration with Huawei focuses on smart ecosystem integration but does not involve sharing core technology architecture, limiting the flexibility and adaptation speed compared to local partnerships [6] - The contraction of BMW's market share in China reflects the challenges of traditional automotive global division of labor in the era of digital transformation, necessitating a shift towards a more responsive local decision-making mechanism to reverse market trends [6]
宝马中国销量下滑 本土化举措欲破体系适配难题