奔驰、宝马、奥迪在华销量集体下滑，开启自救

Core Insights - The traditional luxury car brands are losing their appeal in the wave of new energy vehicles, as evidenced by the sales data from BBA (Benz, BMW, Audi) [1][5] - BBA's global sales performance is closely tied to their weak performance in the Chinese market, which is their largest single market [2][6] Group 1: Sales Performance - BMW leads with global sales of 2.4637 million units in 2025, a slight increase of 0.5% year-on-year; Mercedes-Benz sold 2.16 million units, down 10%; Audi's sales were 1.6236 million units, down 2.9% [1] - In China, BMW's sales fell to 625,500 units in 2025, a decrease of 12.5%; Mercedes-Benz's sales dropped to 575,000 units, down 19%; Audi's sales were 617,500 units, down 5% [2] - BMW's sales in China have seen a continuous decline from 825,000 units in 2023 to 714,500 units in 2024, and further down to 625,500 units in 2025, losing about 200,000 units in two years [4] Group 2: Market Dynamics - The core models of BBA, such as BMW 3 Series, Mercedes-Benz C-Class, and Audi A4L, are facing significant threats as the market for fuel vehicles in the 300,000 to 400,000 yuan price range is declining [7] - In 2025, the market share of Chinese brands in passenger vehicles reached 69.5%, while the share of German brands shrank to 12.1% [8] Group 3: Strategic Responses - BBA is facing a dual challenge of a shrinking fuel vehicle market and a lack of presence in the electric vehicle segment [8] - BMW plans to implement aggressive price cuts across 31 models starting January 1, 2026, with reductions exceeding 10% for 24 models and over 20% for 5 models [11] - Mercedes-Benz aims to focus on product upgrades and smart technology, planning to launch over 15 new and updated products in 2026 [13] Group 4: Future Outlook - BBA's strategic shift towards localized development and operations is becoming increasingly important in the rapidly evolving Chinese market [14] - The success of BBA's transformation efforts in 2026 will depend on their ability to enhance product capabilities and restructure their organizational frameworks [14]