2024年中国运动型多功能用途车行业概览

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The average transaction price of sport utility vehicles (SUVs) in China has shown an overall upward trend, with the C-class vehicles experiencing the most significant price fluctuations. The proportion of models priced below 200,000 yuan has been continuously declining, while the 200,000-300,000 yuan segment has become a key focus for market share transition [2][30] - The market for sport utility vehicles in China is expected to achieve sustained growth over the next six years, with an estimated compound annual growth rate (CAGR) of 9.7%, reaching a market size of approximately 3,919.02 billion yuan by 2028 [3] - The competitive landscape of the SUV market is evolving, with new energy vehicles (mainly electric and plug-in hybrids) increasingly capturing market share from traditional gasoline vehicles, which accounted for a combined market share of 31.8% from January to November 2023 [4][32] Summary by Sections Industry Overview - The sport utility vehicle industry is characterized by a combination of comfort and off-road capability, with models categorized into urban and off-road types based on their application scenarios [22] - The industry has evolved from its origins in the United States, entering the Chinese market in the 1980s, with both domestic and joint venture brands becoming significant players [25] Market Performance - The average transaction price of SUVs in China has increased from 164,300 yuan in January 2021 to a peak of 198,000 yuan in March 2023, indicating a trend of consumer upgrading [30] - The market size of the SUV industry in China is projected to grow significantly, with the market size reaching approximately 3,919.02 billion yuan by 2028 [3][28] Competitive Landscape - The SUV market is witnessing a shift towards larger models, with domestic brands maintaining a dominant position, while some German luxury brands have seen a notable increase in sales rankings due to upgraded consumer demands [4] - The penetration rate of automatic transmission products has reached 89.2%, indicating a strong preference for vehicles that align with electrification and intelligence trends [32] Industry Chain Analysis - The SUV industry chain consists of upstream parts suppliers, midstream manufacturers, and downstream dealers and service providers, with the quality of production directly impacting market conditions [38] - The production and sales of SUVs in China have shown a recovery trend since 2021, with a year-on-year sales growth rate of 16.5% from January to November 2023 [39] Driving Factors - The continuous increase in average prices is driven by the growth of mid-to-high-end products and the rising value of new energy and autonomous driving features [32] - The penetration of new energy vehicles has increased from 4.8% in 2020 to 34% in 2023, supported by government incentives and consumer demand [33]