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Tier1-4*post-80s/70s/60s
: The lower tiers market for mature groups have been hit hard by the epidemic, causing a decline in both the car ownership rate and demand. They prefer domestic brands, and multi-channel high-frequency advertisements play a prominent role; some of the cars belonging to higher tiers mature groups are more than 6 years old and need to be replaced. Therefore, it is feasible to attach more importance to the “promotion/performance/after-sales service” and “family/work/entertainment” through multi-channel high-frequency advertisements.
Analyze the characteristics of consumers of automobile category in the post-epidemic period, and conduct brand communication
Although Covid-19 harmed the automobile industry, it had also clarified the position of automobiles in the hearts of consumers. As marketers, by observing the pace of recovery in various industries, we can know about the consumption priorities of various industries in consumers' minds. It helps us deeply understand the rigid characteristics of consumption in different industries and observe the upgrade needs of different groups of people, which will help brands adjust their advertising strategies flexibly.
According to the data released by CPCA and NBS, the sales volume of passenger cars in China has been in negative growth for three consecutive years. 2020Q1 the sales volume dropped sharply to - 45.3% affected by the epidemic, causing a severe impact on the automotive industry. Benefiting from effective epidemic control in China, the domestic consumer market ushered in gradual recovery, and the automobile industry also ushered in recovery in 2020Q2, the total retail sales of consumer goods as automobiles have been in positive growth for several months. The growth rate of automobile sales from Q1 to Q3 has rebounded to -12.5% year on year. It is expected that the growth rate of automobile sales in 2020 will remain negative, but will be at the highest level in the recent three years, and that the automobile industry is likely to enter a new period in 2021.
2013-2020Q3 Year on year growth of China's automobile market sales(%)
2020 Year-on-year growth of total retail sales of consumer goods(%)
In Pre-order Consumer Groups, the proportion of first purchase intentions continues to decrease, and the market structure becomes stable gradually
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The purchase structure of China's automobile market becomes stable gradually after 2018, manifested in the continuously decreasing first purchase of new cars and growing additional purchase and replacement. Impacted by the epidemic in 2020, some buyers with purchase intentions delayed their replacement plan in a short time, leading to a slight decrease in the replacement rate compared with that in 2019.
Most of the additional purchase users come from high-income families, which are less affected by the epidemic. Driven by such external factors as market lowered price and new energy policies, the proportion of additional purchases increased in the short run in 2020.
2016 - 2020 Purchase Scenarios of Pre-order Users (planning to buy in six months)
Observing the upgrading and high-end trend from the epidemic
: The sales of SUV and premium cars ushered in a rebound in April and remains a positive growth, which is an important driving force for the recovery of the whole industry. The buyers of premium cars are mostly from high-income families, who still have the economic strength and upgrading demand to purchase and replace premium cars.
Left: 2020.1-9 YoY Growth of Sales by Car Type
Right: 2020.1-9 Growth Rate of Segment Markets by Brand
Observing the upgrading and high-end trend from the Class
: The proportion of the sales of Class A0 and SUV is stable, the proportion of the sales of cars below Class A (including Class A) continues to decline. The proportion of the sales of Class B + continues to rise, from which it can be seen that consumers’ demand is upgrading towards high-end Car Type above Class B (including Class B). In the future, Class A0 sedans will be gradually replaced.
2017-2020H1 Proportion of Sales of Different Class
