桑之未：總銷量突破257萬，經銷商利潤過億，2017豪華車市場年終盤點

分類＼汽車
時間＼2018-01-23

撰稿人 / 桑之未

洞察中國豪華車市場

報導 | 資料 | 諮詢

（This article is attached with English translation）

【關鍵字】豪華車市場，經銷商銷量、市場份額、經銷商裸車利潤

■ 誰是豪華車單一品牌第一？

2017年12月，筆者監測的12個主流豪華車品牌官方披露的銷量總計為247,375 輛，同比增長23.4%，環比增長4%；2017年1-12月12個豪華車品牌全年銷量達到2,574,689輛，同比增長18.4%，2018年豪華車市場預計會有兩位數的增長。

以官方披露的銷量口徑計算，賓士（含smart）全年銷量為610,965輛，增長25.9%，成為中國市場首家銷量超過60萬輛的豪華車品牌，銷售總量名列第一；奧迪全年銷量為595,700 輛，

增長1.1%；寶馬（含Mini）全年銷量為594,388 輛，增長15.1%。如果按單一品牌統計，奧迪品牌銷量為595,700 輛，寶馬品牌為56萬輛，賓士品牌（含v級車）為587,868輛，奧迪品牌蟬聯2017年中國豪華車第一。

如果以經銷商終端零售口徑統計，賓士（含smart）2017年銷量為624,025輛，其中賓士品牌（含v級車）為601,195輛；奧迪品牌為599,279 輛；寶馬（含Mini）為580,996輛，

其中寶馬品牌為548,363輛；如果以經銷商終端零售口徑計算，賓士品牌（含v級車）在2017年豪華車終端零售市場獲得銷售冠軍。

■ 12個豪華車企2017年新車銷售營收超過萬億人民幣

2017年全國社會消費品零售總額中汽車類消費總額為42,221.9 億元，增長5.6%；12個豪華品牌車企，2017年新車銷售營收達到1.1萬億，占汽車類消費總額的26%；12個品牌的豪華車銷量以10.77%的市場份額，

占26%的汽車消費總額，凸顯豪華品牌車企在國內汽車行業中的重要性。

賓士（smart）、寶馬（Mini）、奧迪三個品牌新車銷售營收占12個品牌豪華車新車銷售營收的66.6%，其中賓士（smart）品牌營收超過3000億，寶馬（Mini）超2300億，奧迪達到2000億。二線豪華品牌中，捷豹路虎達到1088億；保時捷、凱迪拉克、雷克薩斯三家勢均力敵，均達到550億左右；富豪384億元，林肯首次超過200億；瑪莎拉蒂、英菲尼迪營收150億左右，謳歌僅為40億。

■ 2017年12個品牌豪華車市場份額為10.77%，環比增長1.8%

從經銷商終端零售資料來看豪華車市場在整個乘用車市場所占份額，2017年12個豪華車品牌經銷商終端零售銷量為2,592,467輛，同比增長16.5%，市場份額為10.77%，環比增長1.8%，未來豪華車市場所占份額會繼續保持增長。

2017年豪華車市場中六大細分市場（中大型轎車、中型轎車、緊湊型轎車、中大型SUV、中型SUV、緊湊型SUV）佔據豪華車全年93%的銷量，環比增長17.3%，市場集中度進一步提升；豪華車企業如果想與市場同步增長，就不得不在這個六個細分市場投放車型，並提升產品競爭力。

2017年豪華車轎車細分市場中，中型轎車與中大型轎車仍然是消費者首選車型，銷量雙雙超過50萬輛，同比增長均超過20%。其中中大型轎車細分市場中奧迪A6L、賓士E級、寶馬5系這三款車型銷量占比74%。中型轎車細分市場中奧迪A4L、賓士C級、寶馬3系這三款車型銷量占比63%；從資料可見ABB在這個細分市場優勢地位難以撼動。緊湊型轎車市場隨著寶馬1系的加入，2017年增幅較快，整體市場銷量接近20萬輛，同比增長15%，2018年賓士A級三廂的國產後，這個細分市場也將進入快速發展期。

2017年豪華車SUV細分市場中，以賓士GLE、X5等為代表的中大型SUV是主機廠與經銷商獲取利潤最豐厚的車型，平均單價接近87萬，2017年銷量接近27萬輛，經銷商平均單車利潤2個點左右。

以奧迪Q5、賓士GLC、寶馬X3為代表的中型SUV在2017年銷量接近58萬，同比增長14%，銷量占比為46%，銷量排在中型轎車之後為第二大銷量細分市場；由於ABB占比低，市場空間較大，很多二線豪華品牌都選擇這一細分市場進行突破，其中2017年凱迪拉克XT5銷量增長114%，達到6.5萬輛。2018年隨著寶馬X3國產、奧迪Q5、英菲尼迪QX50全新改款，富豪XC60改款進入整年銷售，這個細分市場車型供應充足，競爭也隨之加劇。

以奧迪Q3、賓士GLA、寶馬X1為代表的緊湊型SUV市場，2017年末寶馬X1銷量過萬，全年銷量接近29萬輛，增長近19%，但這一細分市場價格競爭比較激烈，利潤並不豐厚。

■ 銷售之道--銷量與銷售品質並重

銷售的數量固然重要，但是銷售品質也是評估銷售力不能忽視的重要指標。衡量銷售品質，“加權平均成交價”和“單車利潤”這兩個重要參數，也許讓我們更直觀的看到車企的銷售能力與經銷商單店經營品質。這些更微觀的資料往往更能反映銷售公司及其經銷商體系的銷售能力及水準。“加權平均成交價”反映車企的產品力與銷售公司的銷售能力，車企賣掉的車越多，單車價格越貴，品牌就越具有競爭力，反之就需要考慮改進產品，提升銷售管理能力。“單車利潤”指經銷商銷售新車獲取的利潤，不含衍生利潤，一般在-4%-7%之間，如果單車利潤超過-2%，廠家需要考慮對經銷商進行補貼，如果利潤超過7%，車企就會調整經銷商浮動返利。下面我們通過這兩個指標，來看哪些豪華車品牌在2017年表現更具實力。

筆者首先將12個豪華品牌按照銷量規模劃分為四個級別，賓士、寶馬、奧迪銷量在60萬輛左右為第一陣營，三家在2017年銷量相當，但是“加權平均成交價”相差較大，2017年12月賓士車型加權平均價與寶馬的價差為8萬，與奧迪的價差為15萬；2017年全年賓士品牌車型加權平均價為47萬左右、寶馬品牌為42萬左右、奧迪品牌為34萬左右，賓士的銷售品質好過寶馬、奧迪。通過下表可以看到賓士、寶馬、奧迪各有各的市場空間，消費者並不重疊。

凱迪拉克、捷豹路虎、雷克薩斯、富豪四個品牌銷量在10萬輛以上為第二陣營。除路虎外，捷豹因進口F-pace帶動其成交價上揚，隨著XE國產上市銷售，捷豹銷量有望進一步增長，價格進一步下探；以銷售進口車型為主的雷克薩斯，今年銷量品質不錯，庫存時間短，資金周轉快，多數以訂單方式銷售，加權平均價在42萬上下，成交價格走勢平穩，經銷商今年利潤也很豐厚。富豪在新款車型的帶動下，成交價格開始上揚；凱迪拉克今年銷量增速較快，通過下圖我們可以看到，凱迪拉克基本依靠低價獲取銷量的增長，成交價格進一步走低，經銷商的利潤需要依靠廠家補貼。

保時捷、林肯、英菲尼迪銷量在5-10萬之間為第三陣營，保時捷品牌比較節制，對銷量一直沒有過多追求，銷售方式與其他豪華品牌不同，多以訂單方式銷售，經銷商利潤連續兩年行業中為最好；全進口車型為主的林肯成交價在39萬上下，今年銷量增速最快，價格走勢也非常好，但產品進入銷售中期，與其他品牌新款車型對比不佔優勢；英菲尼迪今年沒有太多走量新車，國產車型也面臨改款，成交價在30萬上下，隨新款QX50上市，Q50L改款，銷量和成交價有望走高。

瑪莎拉蒂、謳歌銷量在2萬輛以下，可以視為第四陣營，這兩個品牌一個成交價格在117萬左右，一個在28萬左右，價格太高制約銷量，價格太低，經銷商銷售利潤低，難以收回投資，這兩個品牌目前都沒有進入良性發展的軌道。

■ 2017年部分品牌經銷商利潤過億，單車利潤率是關鍵

2017年保時捷、賓士、雷克薩斯、林肯經銷商裸車都有不錯的利潤，其中保時捷在深圳、上海等地銷量達到2000台左右的4S店利潤近億元，預計賓士管道中有5%的4S店利潤能過億，不過這些多數是老店，銷量大、衍生利潤、售後利潤好，位置好，更為重要的是管理團隊經驗豐富。雷克薩斯近今年經銷商利潤一直比較穩定，新車利潤5%左右，銷售規模、銷售節奏控制的也不錯，但2017年末雷克薩斯中國銷售管理團隊輪崗更換，新銷售管理團隊如何操盤不是很明朗。

寶馬、奧迪在2018年經銷商利潤有望轉好，隨寶馬X3國產、奧迪Q5全新換代，銷售結構將有所改善。捷豹路虎隨國產化產品數量進一步增加，有助於增加在細分市場的競爭力；凱迪拉克、富豪是依靠價格取勝的品牌，2018年如果能提升品牌力，經銷商利潤有希望得以改善。瑪莎拉蒂、謳歌由於銷量太小，成交價格一個最高，一個最低，都對其銷量、利潤都有影響。

2018年經銷商值得投入的品牌推薦保時捷、賓士、雷克薩斯；具有增長潛力的品牌推薦寶馬、奧迪、捷豹路虎；謹慎關注的品牌有瑪莎拉蒂、謳歌。

■ 12個豪華品牌12月份銷量資料及全年銷量及市場份額增長

賓士（含smart、V級）12月官方公佈的銷量為50,811輛，同比增長24.8%，環比增長-3.1%，經銷商客流增長13.2%，庫存深度0.88；2017年官方公佈銷量累計610,965 輛增長25.9%；經銷商零售銷量累計624,025輛，市場份額2.48%，份額環比增長0.54%，市場份額首次領跑豪華車市場。

奧迪12月官方公佈的銷量為68,948輛，同比增長34.4%，環比增長23.1%，經銷商客流增長7.23%，庫存深度0.86；2017年官方公佈銷量累計595,700輛增長1.1%；經銷商零售銷量累計599,262輛，市占率為2.44%，份額環比增長0.04%。

寶馬（MINI）12月官方公佈的銷量為52,026輛，同比增長19.4%，環比增長-5.9%，經銷商客流增長5.26%，庫存深度1.09；2017年官方公佈銷量累計594,388輛增長15.1%；經銷商零售銷量累計580,996輛，市占率為2.23%，環比增長0.29%。中國市場已經成為寶馬集團銷量最大，增速最快的市場。

凱迪拉克12月官方公佈的銷量為16,082輛，同比增長14.6%，環比增長-3.3%；2017年官方公佈銷量累計175,489輛增長51%。凱迪拉克增速僅排在林肯之後，2017年上半年抓住“上汽車奧迪”事件機會，通過錯位競爭，低折扣搶佔市場，“又大又便宜”深入人心，贏得三四線豪華車新興市場消費者的青睞。

捷豹路虎12月官方公佈的銷量為15,603輛，同比增長15.2%，環比增長13%，經銷商客流增長8.12%，庫存深度1.68；2017年官方公佈銷量累計146,399輛增長23%。

雷克薩斯12月官方公佈的銷量為13,033輛，同比增長22%，環比增長1.1%，2017年官方公佈銷量累計132,864輛增長22%；經銷商零售銷量累計130,479輛。

富豪12月官方公佈的銷量為10,066輛，同比增長-1.2%，環比增長-10.6%；2017年官方公佈銷量累計114,410輛增長25.8%。

保時捷12月官方公佈的銷量為5,288輛，同比增長8.8%，環比增長-5.5%；2017年官方公佈銷量累計71,500輛增長9.6%。

林肯12月官方公佈的銷量為6,030輛，同比增長39.1%，環比增長0.4%，經銷商客流增長6.65%，庫存深度1.53；2017年官方公佈銷量累計54,124輛增長66%；經銷商零售銷量累計52,640輛。林肯今年增速在豪華車市場排名居前，得益於SUV產品線豐富，定價合理，銷售管理靈活，但是到了年末經銷商庫存開始增加，銷售節奏、零售價格有些混亂。

英菲尼迪12月官方公佈的銷量為5,823輛，同比增長27.8%，環比增長26.4%，庫存深度1.37；2017年官方公佈銷量累計48,408輛增長16.4%。

謳歌12月官方公佈的銷量為2,246輛，同比增長18.3%，環比增長16.3%，經銷商庫存深度1.1；2017年官方公佈銷量累計16,348輛增100.8%；經銷商零售銷量累計14 818輛。

瑪莎拉蒂12月官方公佈的銷量為1,419輛，同比增長-29.4%，環比增長1.4% ，經銷商客流增長7.6%；2017年官方公佈銷量累計14,498輛增長19.3%。

2017年豪華車市場以18.4%的增長，總銷量超257萬輛，新車銷售營收破萬億的規模收官，2017年車企在注重銷量的同時，不斷提升銷售品質，並關注經銷商“單車利潤”，通過調整產品，提升銷售管理等方式，推動品牌的進步與發展。2018年隨各家新品的不斷推出，豪華車市場將會繼續保持增長，全年兩位數的增長可期。

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SangZhiwei: The Sales Volume Exceeds 2,570,000 and the Profit Exceeds 100 million RMB，2017 annual summary——Premium car segment with data analysis (15)

Writtenby / Sang Zhiwei

Insightinto the Chinese Premium Car Market

Report| Data | Consulting

Keyword：Premium car market, sales volume of dealers, market share, sales profit of dealers

■ Who is No. 1 in single brand of premium car?

In December 2017, the officially announced sales volume of 12 premium car brands was 247,375, up by 23.4% YoY and up by 4% month over month. From January to December, the sales volume of the whole year was 2,574,689, up by 18.4% YoY. In 2018, the premium car market is expected to have a two-digit growth.

Calculated from the officially announced sales volume, the annual sales volume of Mercedes Benz (Smart) was 610,965, up by 25.9%. It became the first premium car brand whose sales volume exceeded 600,000 in Chinese market, and its total sales volume ranked the first; the annual sales volume of Audi was 595,700, up by 1.1%; and the annual sales volume of BMW（Mini） was 594,388, up by 15.1%. Calculated from the sales volume of a single brand, the sales volume of Audi was 595,700, that of BMW was 560,000, and that of Mercedes Benz (including V-Class) was 587,868. Audi continuously ranked the first in Chinese premium car market in 2017.

Calculated from retail of dealers, in 2017 the sales volume of Mercedes Benz (including smart) was 624,025, in which that of Mercedes Benz (including V-Class) was 601,195; that of Audi was 599,279; that of BMW (including Mini) was 580,996, in which that of BMW was 548,363; and calculated from retail of dealers, Mercedes Benz (including V-Class) gained the crown of retail of premium car in 2017.

■The Sales Revenue of Premium Car Manufacture in 2017 Exceeds RMB 1 Trillion

Among the total retail sales of consumer goods, the total automobile consumption in 2017 is 4.22 trillion RMB, up by 5.6%. The total sales revenue of 12 premium brand manufactures in 2017 is 1.1 trillion, which occupied 26% of the total automobile consumption. With 26% of the total automobile consumption but only 10.77% of market share, it underscores the importance of premium brand manufactures among the automobile industry.

The sales revenue of 12 premium car brands in 2017 reached RMB 1.1 trillion.This is the first time that the sales revenue of premium brand exceeded RMB1 trillion. The sales revenue of Mercedes Benz(Smart), BMW (Mini) and Audi accounted for 66.6%. Among them, the sales revenue of Mercedes Benz (Smart) exceeded RMB 300 billion, that of BMW (Mini) exceeded RMB 230 billion, and that of Audi exceeded RMB 200 billion. In second-tier premium brands, the sales revenue of Jaguar Land Rover reached RMB 108.8 billion; the sales revenue of Porsche, Cadillac and Lexus all reached RMB 55 billion; that of Volvo was RMB 38.4 billion, that of Lincoln exceeded RMB 20 billion for the first time; that of Maserati and Infiniti was about RMB 15 billion, and that of Acura was only RMB 4 billion.

■ In 2017, the market share of 12 brands of Premium cars was 10.77%, up by 1.8% month over month

Seen from retail of dealers, in 2017, the sales volume of retail of dealers for 12 brands of pre mium car was 2,592,467, up by 16.5% YoY. The market share was 10.77%, up by 1.8% month over month. The market share of premium car continued to grow.

In 2017, the sales volume of six market segments in the premium car market (large and medium-sized car, medium-sized car, compact car, large and medium-sized SUV, medium-sized SUV and compact SUV) was 93% of the annual sales volume of premium cars, up by 17.3% month over month. The market concentration was further enhanced. To grow together with the market, the premium car enterprises must launch new models in the six market segments and enhance the competitiveness of products.

In 2017 in the premium car market medium-sized car and large and medium-sized car were still the priority choices of consumers. Their sales volumes both exceeded 500,000, up by more than 20% YoY. Among them, in the large and medium-sized car segment, the sales volume of Audi A6L, Mercedes Benz E-Class and BMW 5 Series accounted for 74%. In the medium-sized car segment, the sales volume of Audi A4L, Mercedes Benz C-Class and BMW 3 Series accounted for 63%. It was difficult to change the dominant position of ABB in this segment. In the compact car segment, with the entry of BMW 1 Series, the growth in 2017 was huge. The total sales volume was nearly 200,000, up by 15% YoY. In 2018, after the domestic production of Mercedes Benz A-Class Three-compartment, this segment will enter a stage of rapid development.

In 2017 in the segment of premium SUVs, the large and medium-sized SUV represented by GLE and X5 had the most profitable models for manufactures and dealers. The average unit price was nearly RMB 870,000, the sales volume of 2017 was nearly 270,000, and the unit profit for dealer was also 2%.

The sales volume of medium-sized SUVs represented by Audi Q5, Mercedes Benz GLC and BMW X3 in 2017 was nearly 580,000, up by 14% YoY, but the sales volume only accounted for 46%, and it was the second largest segment in terms of sales volume ranking only second to the sales volume of medium-sized cars. Because the proportion of ABB was small and the market space was large, many second-tier premium brands all chose this market segment for breakthrough. Among them, in 2017 the sales volume of Cadillac XT5 rose by 114% YoY to 65,000. In 2018, with the domestic production of BMW X3, modification of Audi Q5 and Infiniti QX50, and the whole-year sales of Volvo XC60 new modification, this segment will have sufficient supply, and competition will be intensified.

In the compact SUVs segment represented by Audi Q3, Mercedes Benz GLA and BMW X1, as the sales volume of BMW X1 exceeded 10,000 at the end of 2017, the annual sales volume was nearly 290,000, up by nearly 19%. However, the price competition in this segment was fierce, and the profit was not good.

■ Both sales volume and sales quality are equally vital

Although sales volume is very important, the author points that the quality of sales is more important. To measure the quality of sales, we can use “ the weighted average price” and “the unit profit” to observe sales quality of a manufacture and operation quality of dealers. “The weighted average price” reflects the product power of a manufacture and the sales quality of a sales company. The more cars a manufacture has sold, the more expensive an unit is, the morecompetitive a brand is. Otherwise, it is necessary to consider improving products and replacing sales teams. “The unit profit” refers to the profit gained by a dealer by selling an unit, excluding derivative profit. Generally,it is -4%-7%. If the unit profit is less than -2%, the manufacturer needs to consider subsidizing dealers. If the profit exceeds 7%, the manufacture should adjust floating rebates for dealers. Next, through these two indicators, we will see which premium car brands were more powerful in 2017.

The author divided 12 premium brands into four categories by sales volume. Mercedes-Benz, BMW and Audi whose sales volume was around 600,000 are in the first tier.Their sales volumes were good in 2017, but their “weighted average price” had agreat difference. In December 2017, Mercedes Benz had a price difference of RMB80,000 with BMW, and a price difference of RMB 150,000 with Audi. In 2017 the weighted average price of Mercedes Benz was about RMB 470,000, that of BMW was about RMB 420,000, and that of Audi was about RMB 340,000. The sales quality of Mercedes Benz was higher than that of BMW and Audi. Through the following table, we can see that Mercedes Benz, BMW and Audi had their own market space,and consumers did not over lap.

Cadillac, Jaguar Land Rover, Lexus and Volvo whose sales volume was above 100,000 are in the second tier. Except Land Rover, driven by importation of F-pace, the price of Jaguar rose. With the domestic production and launch of XE, the sales volume of Jaguar is expected to further increase, and the price will further decrease. Lexus mainly sells some imported models. Its sales volume and quality of this year were good. Its weighted average price was around RMB 420,000, the trend of price remained stable, and the profit of dealers was also very high this year. Driven by the new model, Volvo’s price began to rise; and the sales volume of Cadillac grew fast this year. Through the chart below, we can see that Cadillac basically relied on a low price for sales growth, its price further decreased, and profits of dealers needed to rely on subsidies offered by the manufacturer.

Porsche, Lincoln and Infiniti whose sales volume was from 50,000 to 100,000 are in the third tier. Porsche has been self-discipline, it does not pursuit too much for sales volume, and its annual sales volume target is around 10%; the price of Lincoln dominated by imported models was around RMB 390,000, its sales volume grew the fastest this year, and the price trend was also very good; and this year Infiniti had no new car strong in the market, domestic models would be modified, and the price was around RMB 300,000. With the launching of the new QX50 and modification of Q50L, its sales volume and price are expected to rise.

Maserati and Acura whose sales volume was below 20,000 are in the fourth tier. The price of them was around RMB 1170,000 and RMB 280,000, respectively. If the price is too high, it will limit the sales volume. If the price is too low, the sales profit of dealer is low, and it is difficult to recover the investment. These two brands are not optimistic.

■ The Profit of Some Brand Dealers Exceed RMB 100 million in 2017

In 2017, Porsche, Mercedes Benz, Lexus and Lincoln dealers had good profits. Among them, the sales volume of Porsche in cities such as Shenzhen and Shanghai was around 2,000. The profit of dealers was nearly RMB100 million. It is estimated that the profit of 5% of Mercedes Benz dealers could exceed RMB100 million. However, most of them were aged stores with a big sales volume, good derivative profits and after-sales profit and good location. More important is the excellent management. The dealer profit of Lexus had been relatively stable in recent years. The profit was round 5%. Sales scale and pace control was also good, but at the end of 2017 the Chinese sales management team of Lexus was replaced due to job rotation, and how the new sales management team would operate was not clear.

The profit of dealers of BMW and Audi will be better in 2018. The sales structure will be improved with the domestic production of BMW X3 and the upgrading of Audi Q5. Domestic products of Jaguar & Land Rover will further increase, which will help to adjust the sales structure. The improvement of the pricing of new products in 2018 is worthy of the attention of dealers. If Cadillac and Volvo which win by relying on price can improve their power of brand in 2018, the profit of dealers will be improved. The sales volume of Maserati and Acura is too small, and the price of them is too high or too low, both has negative influence on their sales volume and profit. Dealers should reduce the investment.

The most valuable investing premium brands in 2018 include Porsche, Mercedes Benz and Lexus. The brands with growth potential include BMW, Audi and Jaguar & Land Rover. The brands to be carefully watched are Maserati and Acura.

■ The sales volume of December, annual sales volume and market share growth for 12 premium brands

The officially announced sales volume of Mercedes Benz (including Smart, V-Class) in December was 50,811, up by 24.8% YoY and up by -3.1% month over month, the customer flow of dealers increased by 13.2%, the inventory depth coefficient was 0.88; in 2017 the accumulative officially announced sales volume was 610,965, up by 25.9%; and the accumulative retail sales of dealers was 624,025, the market share was 2.64%, and the market share was leading in the premium car market for the first time.

The officially announced sales volume of Audi in December was 68,948, up by 34.4% YoY and up by 23.1% month over month, the customer flow of dealers increased by 7.23%, the inventory depth coefficient was 0.86; in 2017 the accumulative of ficially announced sales volume was 595,700, up by 1.1%; and the accumulative retail sales of dealers was 599,262, and the market share was 2.47%.

The officially announced sales volume of BMW (MINI) in December was 52,026, up by 19.4% YoY and up by -5.9% month over month, the customer flow of dealers increased by 5.26%, the inventory depth coefficient was 1.09; in 2017 the accumulative officially announced sales volume was 594,388, up by 15.1%; and the accumulative retail sales of dealers was 580,996, and the market share was 2.41%. The Chinese market has become the largest single market of BMW group.

The officially announced sales volume of Cadillac in December was 16,082, up by 14.6% YoY and up by -3.3% month over month, the customer flow of dealers increased by 4.73%, the inventory depth coefficient was 0.58; in 2017 the accumulative officially announced sales volume was 175,489, up by 51%; and the accumulative retail sales volume of dealers was 174,437, and the market share was 0.73%. Cadillac’s growth ranked only second to that of Lincoln. In the first half of 2017, it seized the opportunity of “SAIC Audi” incident, and seized the market with a big discount through dislocation competition. The product was “big and cheap”, and deeply rooted in people’s heart. It was popular among consumers of the third-tier or fourth-tier emerging market of premium cars.

The officially announced sales volume of Jaguar&Land Rover in December was 15,603, up by 15.2% YoY and up by 13% month over month, the customer flow of dealers increased by 8.12%, the inventory depth coefficient was 1.68; in 2017 the accumulative officially announced sales volume was 146,399, up by 23%; and the accumulative retail sales of dealers was 160,667, and the market share was 0.66%.

The officially announced sales volume of Lexus in December was 13,033, up by 22% YoY and up by 1.1% month over month, the customer flow of dealers increased by 7.21%, the inventory depth coefficient was 0.68; in 2017 the accumulative officially announced sales volume was 132,864, up by 22%; and the accumulative retail sales of dealers was 130,479, and the market share was 0.55%.

The officially announced sales volume of Volvo in December was 10,066, up by -1.2% YoY and up by 10.6% month over month, the customer flow of dealers increased by 9.73%, the inventory depth coefficient was 0.78; in 2017 the accumulative officially announced sales volume was 114,410, up by 25.8%; and the accumulative retail sales of dealers was 111,855, and the market share was 0.46%.

The officially announced sales volume of Porsche in December was 5,288, up by 8.8% YoY and up by 5.5% month over month, the customer flow of dealers increased by 12.4%, the inventory depth coefficient was 0.81; in 2017 the accumulative officially announced sales volume was 71,500, up by 9.6%; and the accumulative retail sales of dealers was 70,343, and the market share was 0.31%.

The officially announced sales volume of Lincoln in December was 6,030, up by 39.1% YoY and up by 0.4% month over month, the customer flow of dealers increased by 6.65%, the inventory depth coefficient was 1.53; in 2017 the accumulative officially announced sales volume was 54,124, up by 66%; and the accumulative retail sales of dealers was 52,640, and the market share was 0.22%. Lincoln's growth rate ranked the top in the premium car market this year, thanks to the variety SUV product line, reasonable pricing and flexible sales management. However, at the end of the year, dealer inventory began to increase, and sales pace and retail price were somewhat chaotic.

The officially announced sales volume of Infiniti in December was 5,823, up by 27.8% YoY and up by 26.4% month over month, the customer flow of dealers increased by 10.86%, the inventory depth coefficient was 1.37; in 2017 the accumulative officially announced sales volume was 48,408, up by 16.4%; and the accumulative retail sales of dealers was 47,963, and the market share was 0.20%.

The officially announced sales volume of Acura in December was 2,246, up by 18.3% YoY and up by 16.3% month over month, the inventory depth coefficient of dealers was 1.1; in 2017 the accumulative officially announced sales volume was 16,348, up by 100.8%; and the accumulative retail sales of dealers was 14,818, and the market share was 0.06%.

The officially announced sales volume of Maserati in December was 1,419, up by -29.4% YoY and up by 1.4% month over month, the customer flow of dealers increased by 7.6%; in 2017 the accumulative officially announced sales volume was 14,498, up by 19.3%; and the accumulative retail sales of dealers was 15,854, and the market share was 0.06%.

Copyright statement: This article is anoriginal article published by Sang Zhiwei for the first time. For reproduction or adapting, please communicate with the author. In case of any infringement, the infringer will bear the corresponding legal responsibilities. Readers in the auto industry can leave a message and ask for the author's personal WeChat number. For more information of the industry, refer to the content shared in Circle of Friends.Jan. 22th, 2018, Beijing.

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