Core Insights - FAW Toyota maintains a significant position in the competitive automotive market through innovative marketing strategies and high product quality [1] - The "Time Renewal Plan" has been upgraded, introducing new promotional tactics to stimulate the used car market [1][2] - The new Prado model plays a crucial role in driving replacement demand due to its high resale value and robust product features [1][3] Sales Performance - In April 2025, FAW Toyota sold 65,024 new vehicles, marking a 32% year-on-year increase [1] - The first quarter saw sales exceed 172,000 units, achieving a 9.6% year-on-year growth [1] Marketing Strategy - The "Time Renewal Plan" offers a base subsidy that increases by 1,000 yuan for each year of vehicle age, with total subsidies for models like Crown Lufang and Avalon reaching up to 30,000 yuan [2] - The newly added "Double Team Discount" allows consumers to save up to 5,000 yuan per person when purchasing a vehicle in pairs [2] - The plan runs from May 1 to June 30, providing significant savings for consumers looking to replace older vehicles [2][9] Product Features - The new Prado features a 2.4T hybrid system with a combined power output of 243 kW and a peak torque of 630 N·m, enhancing off-road performance [4] - The vehicle's fuel consumption is reduced to 10.11 L per 100 km, significantly lower than previous models, addressing concerns about high fuel costs associated with off-road vehicles [4] Off-Road Capabilities - The Prado is built on the GA-F platform with a non-load-bearing body structure, providing enhanced strength and rigidity for off-road conditions [7] - It includes innovative features like the SDM electronic control stabilizer bar, improving both on-road stability and off-road capability [7] Intelligent Features - The Prado is equipped with the Toyota Space smart ecosystem and Toyota Pilot intelligent driving assistance system, enhancing user connectivity and safety [8] - The intelligent driving system improves night visibility and collision avoidance, contributing to safer off-road experiences [8] Resale Value and Market Position - The Prado's high resale value is supported by its historical reputation and Toyota's stringent quality control, with a three-year resale rate of 72.15% for models like Crown Lufang [11] - FAW Toyota's certified used car program includes rigorous inspections and warranties, alleviating consumer concerns about vehicle depreciation [11] Strategic Implications - The "Time Renewal Plan" transforms vehicles into "time assets," challenging traditional views of cars as depreciating assets [12] - This strategy enhances brand loyalty and encourages long-term consumer relationships, positioning the Prado as a key asset in the current market landscape [12] - FAW Toyota's innovative marketing approach provides a pathway for navigating the competitive automotive industry amid ongoing price wars [12]