The improvement in China’s consumer purchasing power has led more and more consumers to pay attention to the high-end SUV market. Recently, the sales ranking for March in China has been officially released. From the list, it can be seen that the three major German giants still occupy the top positions. Meanwhile, as a representative of domestic production, Li Auto has three SUV models on the list. Let’s take a look at the performance of each model.
NO.1 Mercedes-Benz GLC
Sales: 19,000 units
In March, Mercedes-Benz GLC sold 19,000 new cars. Looking back at the sales situation over the past six months, Mercedes-Benz GLC has shown a significant growth trend in sales. Initially, monthly sales dropped from 12,000 units to a low point of about 5,000 units. However, it then rebounded, with sales steadily increasing. By March, monthly sales had reached nearly 20,000 units. The growth in sales is closely related to pricing adjustment strategies. The introduction of new models still maintains the same level of discounts as the old models, significantly enhancing the cost-effectiveness.
NO.2 Audi Q5L
Sales: 11,598 units
In March, Audi Q5L sold 11,598 new cars. After reaching its peak in December last year, Audi Q5L experienced a significant decline in sales in January and February, with February sales dropping to as low as 7,676 units. Although there was some recovery in March, it still lags far behind its peak. Currently, Audi Q5L still offers good discounts, but due to strong competition in the same segment, it has brought considerable pressure to Audi Q5L.
NO.3 Li Auto L7
Sales: 10,768 units
As the entry-level model of the Li Auto L series, the Li Auto L7 maintains excellent performance in terms of configuration and space. In March, the Li Auto L7 achieved sales of 10,768 new cars in the domestic market. Looking at the sales performance over the past few months, the Li Auto L7 has experienced a significant decline, mainly due to the launch of the AITO M7. After reaching new highs month by month last year and achieving a record of 20,428 units, sales have declined month by month this year. Although there was some recovery in March, it still remains close to halving compared to December last year.
NO.4 BMW X3
Sales: 10,119 units
The BMW X3 ranked fourth on the list with sales of 10,119 units. However, looking at the sales performance over the past few months, the BMW X3 has shown relatively stable sales. Although there was a slight decline in February, it reached a new high of 12,987 units in January. The average sales level in recent months has also been around 10,000 units. However, for BMW, this sales performance is evidently not satisfactory.
NO.5 Li Auto L9
Sales: 8,595 units
As the flagship SUV of the Li Auto family, the Li Auto L9 sets high standards in terms of configuration and size. However, looking at the sales performance over the past few months, the Li Auto L9 has encountered a similar issue as the Li Auto L7. After entering 2024, its sales have experienced a significant decline, with sales in March reaching only 8,595 units, lower than the average level of around 12,000 units last year.
NO.6 BMW X5
Sales: 7,448 units
Although the BMW X5 is a luxury midsize SUV, its sales performance remains strong. With 7,448 units sold in March, it topped the luxury midsize SUV sales chart. Its monthly performance is also similar to that of the BMW X3. While most models experienced a decline in sales, the monthly average sales of the BMW X5 remained robust. This demonstrates the strong brand appeal of the BMW X5.
NO.7 Li Auto L8
Sales: 6,392 units
The Li Auto L8 ranks 7th on the chart with sales of 6,392 new cars. However, its sales performance is the weakest among the Li Auto L series. It is noteworthy that its current sales level is also half of last year’s. While the Li Auto L7 and Li Auto L9 have shown relatively clear rebound growth compared to February, the Li Auto L8’s month-on-month growth is not significant. Ideal may need to adopt more strategies to ensure sales.
NO.8 Volvo XC60
Sales: 6,079 units
Despite not achieving high absolute sales numbers, the Volvo XC60 still demonstrates sufficient resilience in maintaining sales compared to last year. Although there was a significant decline in February, with sales dropping to only 3,441 units, the figures rebounded to 6,079 units in March. Currently, new cars are being offered with significant discounts, and it is anticipated that the sales performance will remain balanced in the future.
NO.9 AITO M9
Sales: 5,446 units
As the flagship SUV of SERES AITO, the AITO M9 achieved sales of 5,446 units in March. Compared to its competitors, the AITO M9 targets Li Auto L9. Although there is currently a gap in sales between the two, the AITO M9’s advantage lies in its intelligence. With advancements in the field of intelligent driving in the future, the AITO M9 is highly likely to achieve further sales growth.
NO.10 NIO ES6
Sales: 3,729 units
Just squeezing into the tenth spot on the sales chart is the NIO ES6. As the former leader of the “Big Three” Chinese electric vehicle new brands, NIO‘s current development is clearly lagging behind Li Auto, and it also subtly hints at some development crises. In March sales, the NIO ES6 sold only 3,729 units, and looking at the sales trend over the past seven months, it also shows a monthly decline.
Summary
From the performance of the models on the sales chart above, it can be seen that Chinese new energy brands have experienced more or less of a downward trend in sales performance. This may be largely related to the deteriorating competitive environment and price wars. In contrast, traditional luxury brands have mainly shown stability compared to last year. Which camp’s performance do you think has a better outlook?
