The sales volume of the automobile market continued to decline, the market shifted from increment to stock competition, and the consumption upgrading trend appeared
Since the state first proposed "expanding the private car purchase market and encouraging cars to enter the family" in 2000, China's auto market has experienced rapid growth for more than ten years and ranked first in the world's auto production and sales for nine consecutive years in 2017. However, since the sales volume of China's automobile market fell for the first time in 2018, the market sales volume has declined for three consecutive years and entered a negative growth stage. The prosperous scene of rapid growth in the past is no longer.
Under the background of negative market growth, China's auto market has shifted from incremental to stock competition. In 2020, nearly half of the purchasing power comes from the people who buy more and change, and the consumers who buy more cars prefer to upgrade their consumption. Matthew effect is prominent, weak brands are under pressure, and the intelligent highland at both ends of the value chain is the key to the competition of automobile enterprises
The declining market sales and emerging new brands are intensifying the competition of automobile brands, highlighting the Matthew effect in the market, continuously improving the market share and advantages of head engine plants, and putting pressure on weak brands.
The wave of science and technology has driven the added value of the automotive industry to both ends of the smile curve, and intelligent components and software services rank high in value. For the main engine plant, the construction and application of core technical capabilities such as intelligent driving, intelligent cockpit and intelligent car coupling have become the key to improve its product differentiation advantage and brand competitiveness, and determine its position in the moat and value chain in the ecology of new automobile industry. The scientific and technological development of automotive products promotes the renewal of consumer demand and cognition, and under30s prefers intelligent experience
Driven by the technology wave represented by electrification, intelligence and networking, the scientific and technological transformation of automobile products has become the general trend, and the automobile has changed from functional vehicle to intelligent vehicle, further promoting the renewal of consumer demand and cognition. Consumers' cognition of cars has changed from "single travel tool" to "third living space", expecting a car consumption experience with novel intelligence, continuous evolution and thousands of people and thousands of faces.
With the younger development of automobile consumer groups, Chinese automobile consumers have a high demand for automobile intelligent experience. Intelligent experience has become the top seven factors affecting consumers' car purchase decisions. Its importance is second only to quality, performance and design, and higher than price, brand and purchase experience. In addition, compared with the overall automobile consumers, people under the age of 30 prefer intelligent experience, accounting for 37%. OTA has become the basic capability of intelligent vehicles, driving the value extension of automotive products and the evolution of business model
OTA (cloud upgrade) the continuous upgrade brought about by the ability is the common and constant innovation of smart cars and the basis for consumers to continue to bring intelligent and pleasant driving experience. With the rising expectation of consumers for the intelligent experience of cars and the deepening of their cognition of intelligent functions, consumers' cognition of upgrading vehicle functions and performance through OTA has gradually increased, and they have a high willingness to pay for OTA ability Yes.
Tesla, Xiaopeng, ideal, Weilai and other new power auto enterprises with intelligent experience as product characteristics have basically formed a stable OTA rhythm and gradually built a moat of product competitiveness. New services such as software upgrade and subscription brought by OTA capabilities drive the value extension of automotive products. The traditional hardware sales business model has evolved into a "hardware + software continuous charging" model.
