XIAOMI(HK:01810) 第一财经·2025-11-24 09:29Core Viewpoint - The automotive industry in China is undergoing a significant shift from a focus on "traffic-driven" marketing to a more pragmatic and rational approach, as evidenced by the subdued atmosphere at the 2025 Guangzhou Auto Show [3][4]. Group 1: Marketing Trends - The previous two years were characterized by a surge in "celebrity executive" marketing, with high-profile executives engaging in live broadcasts and social media promotions [4]. - Companies like Huawei and Xiaomi have been at the forefront of this trend, leveraging their founders' presence to attract attention at auto shows [5]. - The current auto show saw a decline in such marketing tactics, with a focus on showcasing core vehicle technologies and features instead [8]. Group 2: Industry Competition - The decline in hype around "star companies" has led many automakers to return to fundamental vehicle manufacturing principles and focus on core consumer needs [8]. - The latest data shows that in October, retail sales of domestic brands reached 1.55 million units, a 4% increase year-on-year, while mainstream joint venture brands saw a 10% decline to 510,000 units [9]. - The competition is intensifying as joint venture brands accelerate their efforts to address gaps in electrification and intelligence, leading to a more competitive landscape [9]. Group 3: Sales Strategies - Sales strategies at the auto show have adapted to the competitive environment, with sales consultants actively engaging potential customers through incentives and promotions [9][10]. - The pressure on sales performance has increased, with sales targets becoming more challenging to meet compared to previous years [9]. - The automotive industry is experiencing a shift towards maintaining lower price levels while focusing on the "value ratio" that consumers receive for their spending [10].