BMW 5 Series ranks second in value retention rate in China's automobile consumer market (joint venture mid-to-large sedans) in 2024
2024-08-10
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Recently, the All-China Federation of Industry and Commerce Automobile Dealers Chamber of Commerce released the "2024 First Half Auto Retention Rate Report", in which the BMW 5 Series ranked first and second in the popular used car market in the south and north respectively. In the "2024 First Half China Retention Rate Report" released by the China Automobile Dealers Association, in the survey of vehicle retention rates after three years of use, the BMW 5 Series ranked second among joint venture mid-to-large sedans with an average retention rate of up to 67.98%. The car retention rate is the ratio of the resale price of a car to the official suggested retail price of a new car. It is a reflection of the comprehensive strength of brand influence, vehicle durability, consumer recognition, etc., and is also one of the important reference factors affecting consumers' car purchase decisions. The high retention rate of the BMW 5 Series, which ranks among the best, represents the high recognition and trust of Chinese consumers in the BMW brand and the BMW 5 Series.
The high value retention rate of the BMW 5 Series is due to its strong brand appeal and high market retention rate. Since its launch in 1972, the BMW 5 Series has sold more than 10 million units worldwide, with sales in China exceeding 2 million units. It is known as one of the most successful mid-to-large luxury executive cars in the world. Since its domestic production in 2004, the 5 Series has continuously shaped the perception of "luxury business sedans" among every generation of Chinese middle-class consumers. The new generation of the BMW 5 Series offers a variety of choices of "everything is very BMW, whether it is oil or electricity", and breaks through traditional design to create a forward-looking "business and leisure" design language, giving new middle-class consumers a unique sense of identity. As consumers' recognition of the new generation of the 5 Series continues to increase, the retail sales of the new BMW 5 Series in July exceeded 10,000 again, reaching 10,236 units. The monthly sales have exceeded 10,000 for two consecutive months after its launch half a year ago, which once again proves the excellent product strength of the new BMW 5 Series and its popularity among more and more Chinese consumers.
The high value retention rate of products is the inevitable result of the BMW Group's adherence to long-termism, quality and technology. Pursuing safety first and quality first, BMW uses the "strict selection" standard to bring users a responsible luxury travel experience. In the "China Vehicle Reliability Study" released by JD Power in October 2023, BMW was ranked second in luxury brand reliability, second only to Porsche. In the market segment ranking, the 5 Series won the first place in the mid-size luxury sedan segment, reflecting the 5 Series' trustworthy long-term reliability and new car quality. In addition, the innovative pure electric BMW i5 is also the first mid-to-large luxury sedan to receive dual evaluations and full five-star ratings from the China New Car Assessment Program (C-NCAP) and the China Green Car Assessment Program (C-GCAP) under the China Automotive Research Center Automotive Testing Management Center. This "double crown" honor undoubtedly makes the new BMW 5 Series a new benchmark for authoritative safety and green health in the mid-to-large luxury segment.
The BMW 5 Series is one of BMW's most representative models. Its advantageous value retention rate in a complex market environment once again shows that only by putting responsibility first can we move forward steadily, and only by long-termism can we achieve long-term success. (Information)
Ding Ruyao, Upstream News
