有销售还透露："我们门店是10月开业的，这批特价车总共有七八十台，销量非常好，目前现车已经售出一半左右。不仅有本地 的客户，还有许多外地客户前来订购。" 从指导价来看，玛莎拉蒂Grecale Folgore对标保时捷Macan纯电版，但经销商降价后，该款车型进入30万~40万级别新能源SUV竞 争圈，几乎与小米、蔚来、理想、问界等造车新势力同台竞技。 对此，有网友表示，就买个三叉戟车标。还有网友称买得起也养不起。 全文共1092字，阅读大约需要3分钟 "大甩卖"背后是玛莎拉蒂销量的下滑。 近日，多地玛莎拉蒂经销商社交媒体发布消息称，玛莎拉蒂的SUV车型Grecale Folgore售价35.88万元起。 《中国经营报》记者了解到，玛莎拉蒂Grecale Folgore是品牌首款纯电中型SUV，主打高性能与超豪华定位，官方指导价89.88万 元，经销商报出的35.88万元较指导价降了54万元，相当于不到四折。加上一定的选配费用，最终该车型落地价约为40万元。 作为意大利超豪华汽车品牌，玛莎拉蒂2004年进入中国。乘联会数据显示，玛莎拉蒂在华销量巅峰出现在2017年，达到1.44万 辆。当年中国为该品牌全球最大市 ...

Core Viewpoint - The second-hand luxury car market is experiencing significant price drops, with many models depreciating rapidly, making them attractive to younger buyers seeking value for money [4][5][10]. Group 1: Market Trends - The average transaction price of second-hand luxury cars has decreased by over 16% year-on-year in the first nine months of this year, surpassing the declines seen in domestic and joint venture brands [4]. - The phenomenon of "three years at half price" has become a common market trend, with many luxury cars available at significantly reduced prices [4][10]. - The proportion of buyers in the second-hand luxury car market aged 90s and younger has increased from 23% in 2019 to 47% in 2024 [5]. Group 2: Price Dynamics - A 2018 Porsche Macan, with a mileage of 40,000 to 60,000 kilometers, is now priced under 190,000 yuan, which is less than 30% of its original price [7]. - A 2022 BMW X7 with approximately 10,000 kilometers is listed at 700,000 yuan, down from a new car price of 1,000,000 yuan [8]. - The depreciation of luxury cars is exacerbated by new car price reductions, leading to a rapid decline in second-hand values [12]. Group 3: Profitability and Inventory Management - Second-hand luxury car dealers are facing intense competition, with profit margins on popular models often only 20,000 to 30,000 yuan, leading to a strategy of "price for volume" [8][9]. - Inventory cycles for second-hand luxury cars are typically kept within 1 to 2 months, with significant pressure to reduce prices if vehicles remain unsold beyond this period [9]. Group 4: Brand and Model Performance - Porsche has the highest resale value among luxury brands, with a three-year depreciation rate of 66.2%, while brands like Infiniti have a much lower rate of 36.5% [11]. - The resale value of electric luxury cars is more volatile, with significant price fluctuations observed in the second-hand market [14][18]. Group 5: Consumer Behavior and Costs - High-net-worth individuals are still the primary consumers in the second-hand luxury car market, focusing on vehicle condition and rarity rather than ongoing maintenance costs [21]. - The high operating costs associated with luxury vehicles, including fuel and maintenance, have led to concerns about affordability despite lower purchase prices [22].

Core Insights - The second-hand luxury car market is experiencing significant price drops, with average transaction prices decreasing by over 16% year-on-year in the first nine months of the year, surpassing declines in domestic and joint venture brands [1][2] - The trend of "three years at half price" for second-hand luxury cars has become common, attracting younger buyers who are drawn to the affordability of high-end brands [2][3] - Despite the lower purchase prices, the high maintenance and operating costs of luxury vehicles have led to concerns about affordability, with many buyers finding they can afford the car but struggle with ongoing expenses [2][13] Market Trends - The proportion of 90s buyers in the second-hand luxury car market has increased from 23% in 2019 to 47% in 2024, indicating a growing interest among younger consumers [2] - Popular models like the Porsche Macan and Panamera are seeing significant price reductions, with some models selling for less than 30% of their original prices [3][4] - The competitive landscape has intensified, with dealers facing pressure to price vehicles competitively, leading to thin profit margins on popular models [4][5] Pricing Dynamics - The price of second-hand luxury cars is closely tied to the new car market, with significant discounts on new models leading to accelerated depreciation of used vehicles [7][14] - The highest resale value among luxury brands is held by Porsche, with a three-year depreciation rate of 33.8%, while brands like Infiniti have seen values drop to as low as 36.5% [6][12] - The market for second-hand electric luxury cars is volatile, with prices fluctuating rapidly due to brand perception and market sentiment [8][10] Consumer Behavior - High-net-worth individuals are still the primary buyers of high-end luxury cars, focusing on vehicle condition and rarity rather than ongoing costs [13] - There is a growing segment of consumers looking for affordable luxury options, with many second-hand luxury cars priced below 200,000 yuan, appealing to budget-conscious buyers [13][14] - The high operating costs associated with luxury vehicles, including fuel and maintenance, are becoming a significant concern for potential buyers [13][15]

Core Viewpoint - The supercar market is undergoing a significant transformation, with Chinese brands emerging as challengers against the long-standing dominance of European brands in the high-end automotive sector [2][3][11] Market Landscape - The global supercar market has been historically centered around European brands like Ferrari, Lamborghini, and Porsche, which have established strong market barriers through technology, brand recognition, and supply chain control [3][4] - In 2024, the top 10 supercars in China priced over 1 million yuan sold a total of 4,219 units, with European brands accounting for over 90% of both brand and sales statistics [3] Technological Advancements - Chinese brands are exploring diverse paths in the supercar sector, achieving breakthroughs in both electric and fuel-powered vehicles [3][4] - NIO's EP9 set a record at the Nürburgring with a time of 6 minutes and 45.90 seconds, while BYD's Yangwang U9 has begun mass production, showcasing the feasibility of "overtaking" in the high-end electric supercar market [3][4] - Great Wall Motors is developing a hybrid supercar with a 4.0T V8 engine and electric motor, achieving a combined power of 1,000 horsepower and a 0-100 km/h acceleration time of under 2.5 seconds [4] Industrial Foundation - Chinese brands have made significant advancements in core technology, enabling self-research and development of key components, which supports the industrialization of supercars [5][6] - Great Wall's 4.0T V8 engine boasts a thermal efficiency of 38.5%, while BYD's blade battery achieves an energy density of 180 Wh/kg, enhancing safety and charging capabilities [5][6] Cost and Supply Chain Advantages - Chinese brands benefit from a complete electric vehicle supply chain, with core components costing 30%-40% less than those of European brands, allowing for lower production costs for electric supercars [7] - The upcoming luxury car tax adjustment in China may initially pressure high-end markets but could ultimately foster technological upgrades and enhance brand recognition for domestic brands [8] Marketing and Brand Strategy - Chinese brands are investing in marketing innovations and global positioning to build a unique brand ecosystem, with NIO and Great Wall Motors focusing on experiential marketing to enhance brand perception [9][10] - The strategic value of supercars extends beyond direct sales, as they serve as brand symbols that elevate overall brand equity and profitability [8][10] Challenges and Future Outlook - Despite advancements, Chinese brands face challenges in brand recognition, cost control, and service systems, which require long-term efforts to transition from technical advantages to ecological advantages [10] - The future of the global supercar market is expected to integrate electrification, intelligence, and sustainability, providing greater opportunities for Chinese brands to redefine their roles and establish new market standards [11]

Core Viewpoint - Maserati is facing significant challenges in the Chinese luxury car market, with declining sales and aggressive discounting strategies to attract customers, indicating a potential financial crisis for the brand [4][15][43]. Group 1: Sales Performance and Market Position - Maserati's sales in China have drastically declined, with only 384 units sold in the first five months of the year, representing a 44% year-on-year drop, which is significantly worse than other luxury brands [11][15]. - The brand's global sales also suffered, with a total of only 11,300 units sold, down 57% year-on-year, leading to a reported loss of €2.6 billion (approximately ¥21.8 billion) [15]. - The aggressive pricing strategy, such as offering the Grecale SUV for as low as ¥38.88 million, has drawn attention but reflects the brand's struggle to maintain its luxury image [9][10]. Group 2: Brand Image and Consumer Perception - Maserati's image has been tarnished by its association with micro-businesses and aggressive marketing tactics, leading to a perception of being a "cheap luxury" brand [20][28]. - The brand's past reputation as a symbol of wealth and status has been compromised, with high-net-worth individuals now concerned about being associated with a brand perceived as a "micro-business car" [28][30]. - Quality issues, including frequent recalls, have further damaged Maserati's reputation, contributing to its declining sales [29][30]. Group 3: Competitive Landscape and Strategic Challenges - The rise of domestic luxury brands, such as BYD's Yangwang, has intensified competition in the luxury car market, making it harder for Maserati to regain its foothold [36]. - Maserati's product lineup lacks competitive electric vehicles, with its current offerings failing to meet market demands for sustainable options [37]. - The brand's history of frequent ownership changes has led to inconsistent strategic direction, complicating its ability to establish a clear market identity [39][42].

Core Viewpoint - The recent adjustment of the luxury car consumption tax in China has led to significant changes in the pricing and sales strategies of luxury car brands, particularly affecting high-end imported brands like Porsche and Land Rover, while also providing opportunities for domestic luxury brands to gain market share [1][2][3]. Group 1: Impact of Tax Policy - The luxury car tax threshold has been lowered from 1.3 million yuan to 900,000 yuan, primarily affecting models priced between 1.02 million and 1.45 million yuan, which constitute about 0.1% of the overall car market [2][3]. - Major luxury brands such as Porsche and Land Rover are implementing "full tax subsidy" policies to stimulate sales, with Porsche reporting an increase in orders due to these incentives [1][2]. Group 2: Sales Performance and Market Trends - Porsche's global deliveries fell by 6% in the first half of the year, with a 28.4% decline in the Chinese market from January to May 2023 [4][5]. - Other luxury brands, including Maserati and Mercedes-Benz, also experienced significant sales declines, with Maserati's domestic sales dropping by 43.6% [4][5]. Group 3: Competitive Landscape - Domestic luxury brands are increasingly entering the high-end market, with models like the Hongqi "Guo" series and the Zeekr 009 positioned to avoid the new tax impact due to their pricing strategies [8][9]. - Analysts suggest that the new tax policy may benefit domestic luxury brands more than traditional imported brands, as domestic brands have greater flexibility in pricing and configuration adjustments [8][9]. Group 4: Future Outlook - The luxury car market is undergoing a transformation, with domestic brands like BYD's Yangwang planning to enter the European market, indicating a potential reshaping of the global luxury automotive landscape [9][10].

Core Viewpoint - The new luxury car consumption tax policy in China lowers the threshold for taxation from 1.3 million yuan to 900,000 yuan, effective from July 20, 2025, impacting a wider range of vehicles, particularly affecting brands like Porsche and Mercedes-Benz [2][4][7]. Group 1: Tax Policy Changes - The new regulation expands the scope of luxury car consumption tax to include passenger cars and light commercial vehicles with a retail price of 900,000 yuan and above, excluding VAT [2][4]. - The previous tax threshold was set at 1.3 million yuan, meaning that vehicles priced between 1.017 million yuan and 1.469 million yuan will now be subject to the tax [4][7]. Group 2: Impact on Luxury Car Brands - Porsche is significantly affected by the new tax policy, with models like the 911, Panamera, Taycan, and high-end Cayenne now falling within the taxable range, leading to increased customer traffic and sales inquiries [5][7]. - Other brands such as Mercedes-Benz and BMW will also see some of their models, including the S-Class and GLS, impacted by the new tax regulations [8][9]. - The new tax policy is expected to drive consumers to make purchases before the tax takes effect, as buying before July 20 allows them to save tens of thousands of yuan [7]. Group 3: Market Dynamics - The luxury car market is experiencing a surge in demand, particularly for models that fall under the new tax threshold, while ultra-luxury brands like Maserati are struggling with declining sales and are resorting to significant discounts to clear inventory [11][20]. - In contrast, domestic luxury electric vehicles are gaining popularity, with brands like BYD and their models such as the Yangwang U8 and Zun Jie S800 seeing strong sales performance [25][31]. - The shift in consumer preferences towards domestic luxury vehicles indicates a changing landscape in the high-end automotive market, with more brands targeting the million-yuan price segment [31].

Core Viewpoint - The Ministry of Finance and the State Taxation Administration have announced an adjustment to the consumption tax on super luxury cars, lowering the threshold for tax imposition from a retail price of 1.3 million yuan to 900,000 yuan, effective from July 20, 2025 [1][3]. Group 1: Tax Policy Changes - The new tax range for super luxury cars now includes all types of vehicles with a retail price of 900,000 yuan (excluding VAT) and above, including electric and fuel cell vehicles [3]. - The consumption tax rate for super luxury cars remains at 10%, and for electric and fuel cell vehicles, the tax will only be levied at the retail stage [3][4]. Group 2: Market Impact - Consumers purchasing a car priced at 900,000 yuan (excluding tax) will incur an additional consumption tax of 90,000 yuan under the new policy [4]. - The adjustment reflects a significant change in the automotive market, where promotional discounts have increased, with luxury car promotions reaching up to 26.8% since 2019 [5]. - The average price of luxury cars has decreased to around 900,000 yuan, aligning with the new tax threshold, indicating a stable tax base despite the adjustment [5]. Group 3: Second-Hand Car Market - The announcement specifies that no consumption tax will be levied on the sale of second-hand super luxury cars, which is expected to stimulate the second-hand car market and promote economic stability [5].

Core Insights - The Chinese luxury car market is experiencing a significant shift, with traditional luxury brands like Maserati, Bentley, and Rolls-Royce facing declining sales, while domestic brands are aggressively entering the million-level luxury car segment [1][9][20] - Maserati's pricing strategy has changed dramatically, with the Grecale model's price dropping to 38.88 million yuan, reflecting a broader trend of price reductions among traditional luxury brands [2][4] - Domestic luxury cars, such as the ZunJie S800 and BYD's Yangwang U8, are gaining traction, with the ZunJie S800 achieving over 6,500 pre-orders in its first month [10][16] Traditional Luxury Brands Struggling - Maserati's sales in China have plummeted, with only 384 units sold in the first five months of the year, a stark contrast to 14,400 units in 2017 [4][5] - Other luxury brands are also experiencing declines, with Bentley's sales down 20%, Rolls-Royce down 23%, and Ferrari down 14% in the same period [9] - The overall trend indicates a slowdown in purchasing power among high-end consumers, impacting the sales of ultra-luxury brands [9] Rise of Domestic Luxury Cars - Domestic brands are increasingly targeting the luxury market, with at least seven brands launching million-level luxury vehicles in recent years [16] - The ZunJie S800 is positioned to attract traditional luxury car buyers, emphasizing identity and experience, while other brands like NIO and BYD are focusing on technology and performance [16][20] - The emergence of these domestic luxury vehicles is reshaping consumer perceptions of luxury, moving away from traditional brand loyalty [20] Changing Definition of Luxury - The definition of luxury is evolving, with consumers now valuing unique features and digital integration over brand history [20] - The success of domestic luxury cars is prompting a reevaluation of what constitutes luxury in the automotive industry, as they challenge the dominance of foreign brands [20] - The shift in consumer preferences is leading to a more diverse understanding of luxury, influenced by technological advancements and changing consumer habits [20]

Group 1 - Maserati's SUV model Grecale is being offered at a promotional price of 388,800 yuan, significantly lower than its official price range of 650,800 to 1,038,800 yuan, leading to over 10 units sold in just two days [1] - Nvidia's CEO Jensen Huang has entered the top 10 of the global billionaire list, with a net worth of approximately 143 billion dollars, just 10 billion dollars behind Warren Buffett [2] - Nvidia's stock price reached a historic high of 165.94 dollars, with a total market capitalization of 4.06 trillion dollars, making it the first company to surpass a 4 trillion dollar market cap at closing [3] Group 2 - Starbucks has received multiple acquisition proposals for its China business, with potential buyers including Hillhouse Capital and KKR, while Luckin Coffee's major shareholder is also in the bidding [4] - Alibaba's Vice President and former DingTalk CEO Ye Jun is set to leave the company after four years, during which he led DingTalk to achieve over 3 billion yuan in annual revenue [5] - The Hermes Birkin bag was sold for a record 8.58 million euros (approximately 72 million yuan) at Sotheby's, marking the highest price ever for a handbag [6] Group 3 - The demand for air conditioning units has surged in Northeast China due to unprecedented high temperatures, with sales in Heilongjiang province increasing by over 800% year-on-year [6] - YouTube announced the cancellation of its "Trending" page to focus on personalized content recommendations, aiming to enhance user engagement [10] - Google is set to provide discounted cloud computing services to the U.S. government, with the deal expected to be finalized soon [11] Group 4 - 360 Company expects a net loss of 240 million to 320 million yuan for the first half of the year, primarily due to increased marketing expenses [13] - Japanese restaurant chain Saizeriya reported a 15.4% year-on-year increase in sales for the first three quarters of the fiscal year, with net profit reaching a record high [14] - Dongpeng Beverage anticipates a net profit increase of 33% to 42% for the first half of the year, driven by its national expansion strategy [16] Group 5 - "Yingmu Technology" has completed a Series B funding round of over 150 million yuan, which will be used for product development and AI capabilities [18]