Most imported car price cuts

On May 22, the Ministry of Finance issued an announcement that starting July 1, 2018, China will reduce the import tariffs on autos and auto parts. The auto tax rate is 25% for 135 tax codes and 4 tax rates for 20%. Tax rates have dropped to 15%, and auto parts tax rates have dropped to 6% for a total of 79 tax codes for 8%, 10%, 15%, 20%, and 25%.

When this news came out, a number of multinational car companies responded. The Beijing News reporter recently conducted incomplete statistics. As of press time, there were Audi, Mercedes-Benz, BMW, Volvo, Lincoln, Lexus, Ford, Mitsubishi, JEEP, Tesla, Jaguar Land Rover China, Infiniti, Alfa Romeo, Dongfeng Nissan, 16 car companies including Toyota and Volkswagen have lowered their imported car prices.

To this end, we made an interesting inventory: The Audi brand first made an official response to the change in tariffs on imported cars, saying that it would adjust the prices of related products simultaneously. Tesla became the fastest car company to announce a specific price adjustment plan and delivered it to all sales outlets in China. In the currently announced model price adjustment, Jaguar Land Rover’s luxury high-performance sub-brand SV has the largest decline, and its manufacturer’s suggested retail price fell by a maximum of 392,800 yuan. Mercedes-Benz is involved in the most price-reduction models, with more than 100 models.

Regarding the reduction of import vehicle tariffs, the industry generally believes that this is based on the actual situation of the development of China's auto industry, and the important measures taken to deepen reforms and expand opening up are necessary requirements to meet the growing needs of life.

Car analyst Zhang Zhiyong said that the import luxury car market has little impact. “All brands are adjusting prices in accordance with tariff cuts, and the prices of related competing products are also falling.” There may be some impact on high-end models produced by joint venture brands because the price range between imported luxury cars and domestic luxury cars has already overlapped. However, people in the industry also pointed out that imported cars do not have a large proportion in China's new car sales market, and will not have a significant impact on the price system of the entire auto market. In addition, there are already substantial discounts on the selling prices of many types of vehicles sold at the end of the market. The impact of the adjustment of the manufacturers' guidance price on the end market remains to be seen.

1, the fastest response - Audi

After the Ministry of Finance announced on May 22, Audi rushed to the front and expressed the most positive reaction. After the release of the announcement, it issued a document responding saying that it welcomes China's initiatives to further promote market liberalization. In order to maximize the benefits of the policy to consumers, the Audi brand will adjust the prices of relevant products simultaneously. The specific information will be announced on the FAW-VW Audi website.

On the same day, shortly after Audi released its response, Porsche also responded that it welcomes China's downward adjustment of auto import tariffs, and that dealers' terminal sales prices have fallen from 35 to 249,000 yuan, although official prices still require the headquarters of Porsche. Approved, the official adjustment of the price will be announced in early June. Jeep also introduced the latest price policy overnight on May 22, and issued an official notice on its official website and public number in the early morning of May 23rd. The new Jeep Grand Cherokee’s official adjustment of the sale price has a price reduction of up to 65,000 yuan. .

Compared with these "fast-moving" car companies, Infiniti's actions appear to be slower. On May 26th, Infiniti officials issued a statement saying that in response to the “Announcement of the Customs Tariff Commission of the State Council on Reducing the Import Tariff of Automobiles and Components”, the proposed retail price of all imported vehicle manufacturers will be adjusted. Information has not yet been announced.

2, the price plan announced the fastest - Tesla

In the eyes of consumers, nothing is more real than a price cut. On the same day, Tesla lowered the import duty on May 22, and announced the latest price reduction after tax reduction. It also stated that it has adjusted the price of all model S and Model X series vehicles on sale to all of them. Sales network.

It seems that Tesla should be the first company to choose to respond to tariff adjustments with specific price cuts. Tesla also made it clear that regardless of when the vehicle was cleared, all undelivered vehicles will be delivered at an adjusted price. This means that Tesla’s current quasi-car will enjoy the adjusted price at the same time, and it will be able to pick up the car as soon as possible without having to wait until July 1 after the new tariff goes into effect to enjoy the corresponding discount.

Some car companies chose to get together on May 24 to announce a specific price adjustment plan. On the same day, Audi issued an announcement saying that since May 25th, the official guide price of imported vehicles has been lowered. The price reduction involves the Audi A, Q, and R three major cars. In addition, the purchase tax will also decrease year-on-year, while adjusting the official price of the corresponding product.

On the same day, Ford Motor Co. and Lincoln Motors announced that since May 25th, the manufacturer's suggested retail price for all imported models in China has been lowered; BMW also announced that its BMW and MINI brands will cut the price of the models; Volvo Car Sales (Shanghai) Co., Ltd. It also stated that the proposed retail prices of all imported model manufacturers will be lowered from now on, involving seven models including the V40, V60 and XC90.

Mercedes-Benz also issued a response on May 24 stating that in order to respond positively to the tariff adjustment policy, it has immediately adjusted the manufacturer's suggested retail price for all imported models according to the actual impact of the policy, and will take effect on the 24th. The price adjustment covers four brands: Mercedes-Benz, Mercedes-Maybach, Mercedes AMG, and smart. After the Beijing News reporter looked at the official Mercedes-Benz website, it found that soon after the release of the response, the price of its official website began to adjust.

On May 26th, Alfa Romeo announced that it will implement a new manufacturer's suggested retail price for all models. On the same day, Jaguar Land Rover and Infiniti also announced price adjustments. The Jaguar Land Rover price adjustment included 10 models of the Jaguar and Land Rover brands.

3, the largest price cuts - Jaguar Land Rover

At present, judging from the car manufacturers that have announced the latest manufacturer's suggested retail price, the biggest price reduction is the number of Jaguar Land Rover. The Jaguar F-TYPE 5.0T SVR convertible has the highest drop of 390,800 yuan. The smallest drop was Land Rover's Range Rover Aurora convertible minimum reduction of 4800 yuan.

The Beijing News reporter comprehensively compared the published new guidance prices and found that the decline of most car companies was mainly concentrated at 100,000 yuan and below.

The adjusted retail price of imported Ford models will be reduced by 15,000-3.5 million yuan. Among them, the maximum reduction of Ford Mustang reached 35,000 yuan. At the same time, according to the price announced by Lincoln China, the decline of the entire series of models was between 20,200 and 60,000 yuan; Volvo lowered the amount between 14,000 and 110,200,000 yuan; Tesla declined around 48,000 to 90,000 yuan; Lexus. The whole series of models dropped between 14,000 and 109 thousand yuan; the allocation of 9 different models of Alfa Romeo's two imported cars was between 8200 yuan and 70,200 yuan.

According to the news released by Infiniti, although there is no specific price, it has announced that the maximum downward adjustment will be around 60,000 yuan. Similarly, Mitsubishi imported models Pajero, the adjusted price is 369,800-429,800 yuan, the highest discount is 60,000 yuan.

The price of the imported Jaguar XE, XF, XJ, F-PACE, I-PACE and other imported models has dropped by between 10,000 and 512,200 yuan. The price adjustments for Land Rover's Range Rover, Star Pulse, Discovery and Range Rover Aurora are at 4,800 yuan - Between 11 million.

On the other hand, there are also some car companies with different price ranges across different models. Mercedes-Benz, BMW, and Audi, which are in the first camp of the luxury car, have a large number of imported models and cover a large number of models such as cars, SUVs, and high-performance coupe. Due to the large difference in the price of the models, naturally the price range is also large when the prices are adjusted.

For example, Mercedes-Benz, the price adjustment involves more than 100 models configuration. The fall in the price of this guideline is also relatively large. The smallest decline is only 7200 yuan for the smart brand, the largest is the AMG brand, a reduction of 256,000 yuan.

For the Mercedes-Benz brand, 7 different levels including A-class, B-class, C-class, E-class, CLA-class, GLC-class, and SLC-class models have fallen within 100,000 yuan, and the overall price reduction range is 1.6. Million -81,200 yuan. In addition, there are three levels of the maximum decline of more than 100,000 yuan were: S-level price drop of 61,200 -125,200 yuan; GLE-class drop of 52000-108,200 yuan; GLS-class drop in 74,700 -117,700 yuan. The overall decrease of G class is more than 100,000 yuan, which is from 102,000 to 139,200 yuan. The Mercedes-Maybach model dropped by 99,200-920,200 yuan; the overall Mercedes-AMG dropped by 34,200-285,200 yuan.

BMW also adjusted the price in the same way, but it did not have the maximum price reduction range of Mercedes-Benz. The integrated price reduction range of BMW's imported car brands was between 16,000 and 162,000 yuan.

The combined reduction of Audi's 11 imported models is between 13700 and 116 thousand yuan. The models also cover cars, SUVs and many other models. Among them, Audi A1, A3, A4, A5, A7, A8L, S7, Q7, TT fell within 100,000 yuan, from 13700 to 78800 yuan; Audi RS7 2 models, respectively, reduced price 110,000 and 122,800 Yuan, R8 three models dropped by 143,000 to 165,000 yuan.

For Land Rover, the Range Rover Sport version has a large discount rate of 60,000-390,000 yuan. In Jaguar, the price of the 2.0-inch hardtop version of the F-TYPE entry-level 2.0T hard-top model was still unchanged at RMB 598,000. As a result, it fell by RMB 0-39.28 million, which was the largest drop in the model and the most widely spread.

4, most price models - Mercedes-Benz

According to the price adjustments made by major auto makers to the corresponding imported models in the Chinese market, the statistics of the Beijing News reporter found that, up until now, among the car manufacturers that have announced price reductions, the Mercedes-Benz brand price adjustment covers the most models.

On May 24th, Beijing Benz Sales announced that it had adjusted the manufacturer's suggested retail price of all imported models according to the actual impact of the policy. The price adjustment covers Mercedes-Benz, Mercedes-Maybach, Mercedes-AMG, as well as the smart four brands, involved more than 100 models, the highest price reduction of 256,000 yuan.

At the same time, the imported cars of major luxury brands, including BMW, Audi, Lexus, Volvo, etc., have all undergone varying degrees of price adjustments, involving a variety of models.

According to the price adjustment plan released by BMW on May 24, the manufacturer's proposed retail price adjustment covers all imported BMW and MINI brand models sold in China, including a total of 82 models in 15 series. Among them, the lowest retail prices of the BMW 4 Series, BMW 6 Series GT and BMW X5 were adjusted to 369,800 yuan, 642,900 yuan and 6,999 yuan respectively.

According to Audi's price adjustment plan, Audi has decided to fully reduce the official guide price of imported models since May 25. The price adjustment involves 53 models of its 10 models of A, Q and R cars, with a price reduction of 1.37. Ten thousand yuan - 165,000 yuan.

According to a price reduction announcement issued by Lexus China, the price adjustment involves Lexus’s full lineup of models, including 57 versions of 18 models. Among them, the official guide price of the LS 500h model has been adjusted to 892,000 yuan; the official guide price of the ES model has been adjusted to 279,000 yuan; the official guidance prices for the SUV models NX and RX have been adjusted from 298,000 yuan and 390000 yuan respectively.

On May 24, Volvo announced that it will reduce the suggested retail price of all imported model manufacturers. Among them, Volvo XC90 maximum reduction of 10.02 million, V90CC maximum decline of 45,000 yuan.

In addition, Jaguar Land Rover announced that it will adjust the price of its 10 models for a total of 43 versions; Lincoln announced that it will adjust the prices of its 5 models for a total of 26 models, with price reductions ranging from 20,200 to 60,000 yuan; Ford announced adjustment of its 4 A total of 12 versions of the model car price, the price reduction range of 15,000 -3.5 million; Alfa Romeo announced that the adjustment of the price of its two models 9 models, the price reduction range of 0.82 million -70,200 yuan.

5, there is no action - 6 ultra-luxury brands just started assessment

According to the incomplete statistics of the Beijing News reporter, as of the time of the press release, 16 car manufacturers have announced that they will reduce the prices of imported models in the Chinese market. Although some car companies responded to the call of the country, they have not yet adjusted their prices.

For example, Porsche, Lamborghini, Bentley, Maserati (China), Aston Martin, McLaren and other six ultra-luxury branded car companies have stated that they have launched an assessment process and will follow the new tariff policy after the tariff reduction policy is announced. Relevant adjustments are made to the suggested retail prices of its products, and specific adjustments will be announced in the near future. As of press time, the above six ultra-luxury car prices have not yet announced the specific price adjustment details.

It is understood that in domestic sales of products, Porsche currently has 5 cars, Lamborghini has 3 cars, Bentley has 4 cars, Maserati has 5 cars, and Aston Martin has 4 cars. In the series, McLaren has three series of ultimate sports cars, super sports cars and sport sports cars in China.

Taking Porsche as an example, the data shows that after 2015, China has ranked Porsche's largest single market in the world for three consecutive years. For the whole of 2017, Porsche’s total sales in China were 71,508, a year-on-year increase of 10%, making it the only region in the world that achieved double-digit growth. In the first quarter of this year, Porsche sold a total of 18,672 new cars, an increase of 3% year-on-year.

6. There was no vocalization or price cuts - Cadillac, Peugeot and other 7 companies were the most silent

In addition to the above-mentioned car companies that vocally supported the reduction in tariffs, some car companies remained silent for the time being, including Honda, Peugeot, Citroen, Hyundai, GM Cadillac, Rolls-Royce, Ferrari and others.

On May 28th, a reporter from the Beijing News asked Hyundai Motors to reduce the specific prices of imported cars. As of press time, Hyundai (China) (including Hyundai and Kia) did not respond.

General Cadillac did not say anything in this collective action. Some Cadillac insiders told related media that Cadillac is using parallel import channels for importing imported vehicles. The tariff reduction has no effect on SAIC-GM's Cadillac selling models. The Beijing News reporter tried to contact Cadillac, but as of this writing, the official did not give a reply.

In addition, Rolls-Royce and Ferrari currently have not made any response and price adjustments.

Industry experts told the Beijing News reporter that these car companies should have a policy to deal with in the future, and it is only a matter of time before they are released.