海外车企的品牌力还能透支几天：购车决策洞察报告之品牌篇（2025版）

Investment Rating - The report indicates a critical situation for overseas car manufacturers, suggesting a potential decline in market share and brand strength, particularly by 2025-2026 [82]. Core Insights - The brand appeal in the Chinese automotive market remains high at 68.35% in 2024, but overseas brands are experiencing significant declines in loyalty and net recommendation rates, threatening their brand power [7][82]. - Chinese brands have begun to surpass overseas brands in key metrics such as user loyalty and net recommendation rates, with Chinese brand loyalty reaching around 25% in 2024, while overseas brands are declining [7][82]. - The report emphasizes the need for overseas car manufacturers to adapt to evolving consumer trends, including the increasing middle-aged, female, and middle-class demographics in the Chinese market, which demand new product and service offerings [62][64]. Summary by Sections Brand Appeal and Consumer Trends - The report defines brand appeal as the comprehensive perception of a brand based on awareness, recognition, reputation, loyalty, and recommendation during the car purchasing process [3][6]. - The brand appeal among Chinese consumers has remained high, with a notable focus on brand loyalty and recognition, particularly towards established overseas brands [7][8]. Performance of Overseas Brands - Overseas brands have seen a drastic decline in loyalty and recommendation rates, with significant discounts being offered, leading to a "volume-price decline" scenario [14][82]. - The report highlights that from 2017 to 2024, overseas car manufacturers' sales in China dropped from 15 million to 10 million units, with market share falling from 60-70% to just over 40% [14][82]. Chinese Brands' Growth - Chinese brands like BYD, Geely, and others have significantly improved their brand power and market presence, achieving a doubling of sales from under 7 million to nearly 14 million units between 2020 and 2024 [69][76]. - The report notes that the loyalty and net recommendation rates for Chinese brands have surpassed those of overseas brands, indicating a shift in consumer preference [69][76]. Evolving Consumer Demographics - The report identifies key demographic shifts in the Chinese automotive market, including an increase in middle-aged and female consumers, which has led to new demands for energy-efficient and compact vehicles [26][35][62]. - The middle-class segment is expected to dominate the market, with a significant increase in the number of households owning multiple vehicles [44][62]. Challenges for Overseas Brands - Overseas brands are criticized for their slow adaptation to the changing market dynamics, remaining focused on younger consumers while neglecting the needs of middle-aged and female buyers [62][64]. - The report warns that without timely adjustments to their product and service offerings, overseas brands risk further erosion of their market position and brand strength [82].