1. NEV value retention closely tracks new car price trends, declining into 2023.
The value retention rate of new energy vehicles closely follows the price trend of new cars and continues to decline in 2023
The value retention rate of new energy vehicles closely follows the market price trend of new cars. In 2022, the price of lithium battery raw materials rose sharply, directly raising the cost of batteries, which had a direct impact on the terminal price of new cars, prompting the value retention rate of new energy vehicles to grow at the same frequency; in 2023, the price of new cars began to fall, and the value retention rate of used cars also fell accordingly.
Comparing the overall value retention rate with the value retention rate of cars within 3 years, the two trends are basically consistent, reaching a peak in the fourth quarter of 2022, and continuing to decline in 2023 with the new car market.
2. BEV & PHEV value retention rates similar, tracking industry market changes.
The value retention rates of BEV and PHEV are not much different, and the changes closely follow the industry market
The value retention rates of vehicles of different fuel types within 3 years are not much different. Among them, BEV and PHEV closely follow the industry base, that is, they show an inverted V-shaped trend of "increasing first and then decreasing". The value retention rate of pure electric vehicles has dropped from 75.9% at the peak to 65.4%, which is a larger decline than that of plug-in hybrid vehicles, while the value retention rate of extended-range vehicles has continued to decline.
The age of extended-range vehicles is relatively low, so its overall value retention rate is basically the same as the trend of vehicles within 3 years, with little difference.
3. 3-year sedan value retention exceeds SUVs/MPVs, but overall retention rates are close.
The value retention rate of sedans within 3 years is higher than that of SUVs and MPVs, but the overall value retention rate is not much different from that of SUVs
The value retention rate of sedans and SUVs within 3 years closely follows the industry base, that is, it shows an inverted V-shaped trend of "increasing first and then decreasing". The value retention rate of sedans has dropped from 76.4% at the peak to 66.0%, which is a larger decline than that of SUVs. At the same time, the value retention rate of MPVs is relatively stable and has not changed much.
There are differences in the value retention rates of different types of models within 3 years. The value retention rate of sedans in 2023Q4 reached 66.0%, which is higher than that of SUVs and MPVs; but compared with the overall value retention rate, sedans and SUVs are not much different, while MPVs are lower, less than 40%.
4. 3-year value retention of traditional independent brands equals new forces, surpasses joint venture brands.
The value retention rate of independent brands (traditional) within 3 years is equivalent to that of new forces, and higher than that of joint venture brands
The value retention rate of independent brands (traditional) and new forces within 3 years closely follows the industry base, that is, it shows an inverted V-shaped trend of "increase first and then decrease", while joint venture brands continue to decline; comparing the value retention rates of the three, independent brands (traditional) and new forces are equivalent, and higher than joint venture brands.
Due to the relatively high age of independent brands (traditional), their overall value retention rate is lowered, making them lower than new forces and joint venture brands.
5. Leapmotor's value retention rate leads other new force brands and ranks first
Independent brands: In 2023, the value retention rate of mainstream manufacturers' 3-year age vehicles generally declined, among which Geometry and Aion fell by about 6% year-on-year, higher than other manufacturers' brands. The value retention rates of the TOP5 manufacturers' brands all exceed 70%, among which Ora surpasses SAIC-GM-Wuling with a value retention rate of 79.3%, and ranks first.
New power brands: Only 3 manufacturers' brands have a value retention rate of more than 70% in 3 years, among which Leapmotor has a value retention rate of 78.6% and ranks first, while Lantu Auto has a value retention rate of less than 60%.
6. Porsche has a value retention rate of 83% within 3 years, ranking first in the luxury brand list
Joint venture brands have failed to continue their advantages in the traditional energy track, and the value retention rate of new energy vehicles is inferior to that of domestic brands. In 2023, the value retention rates of mainstream manufacturers within 3 years are all below 70%, among which Dongfeng Nissan and SAIC-GM Buick have a value retention rate of less than 50%.
Luxury brand value retention rate: Porsche has a value retention rate of 83% within 3 years, ranking first.
7. Within 100,000 yuan: Leapmotor T03 has a value retention rate of nearly 80% within three years, ranking first
In the new energy vehicle market within 100,000 yuan, the value retention rate of hot-selling models within three years is generally higher than 65%, only the Yidong is less than 60%, among which the Leapmotor T03 has a value retention rate of 79.6%, ranking first;
The value retention rate of the TOP 5 models with a three-year age is around 80%, and the difference is not big, among which the one-year value retention rate is more than 80%.
8. 100,000-200,000 yuan: AION Y has a value retention rate of nearly 73.3% within three years, ranking first
As the mainstream market for new energy vehicles, the value retention rate of hot-selling models is generally not high. Only AION Y has a value retention rate of more than 70% within three years, and the value retention rates of Song, Roewe Ei5, and VELITE 6 are less than 60%;
The value retention rate of Nezha U within three years has decreased by 11% year-on-year, which is higher than that of other models.
9. 200,000-300,000: Han has a value retention rate of 70.9% within 3 years, ranking first
In the 200,000-300,000 new energy market, BYD's two models Han and Tang have a value retention rate that leads other car series. Among them, Han has a value retention rate of 70.9% within 3 years, ranking first in the market segment, and a 1-year value retention rate of nearly 80%;
Xpeng P7's value retention rate within three years has decreased by 12% year-on-year, which is higher than other car series.
10. 300,000-500,000: Model Y has a value retention rate of 76.4% within 3 years, ranking first
In the 300,000-500,000 new energy market, Tesla's two models Model Y and Model 3 have a value retention rate of 76.4% and 69.2% within three years, respectively, ranking first and second, among which Model Y has a 1-year value retention rate of nearly 90%, still ranking first.
The value retention rate of new power car series Ideal ONE and NIO ES6 within three years has decreased by 12.7% and 15.3% year-on-year, falling below 70%.
11. 500,000-1,000,000: Mercedes-Benz GLE-class has a value retention rate of 76.9% within 3 years, ranking first
In the 300,000-500,000 new energy market, BBA occupies 4 of the top 5 car series with the highest value retention rate, among which the Mercedes-Benz GLE-class has a value retention rate of 76.9% within 3 years, ranking first, and the car age within 1 year is as high as 85.4%.
The value retention rate of NIO ES6 within three years has decreased by 12% year-on-year, which is higher than that of other car series.
