Analysis of Sales of Foreign Brand SUVs in the First Quarter

Market share of foreign SUVs is approaching 60%

In the domestic SUV market, in the first quarter of this year, the market share of foreign brands continued to rise, approaching 60%. Among them, Japanese, German and U.S. SUV sales increased at a high level, and their share increased year-on-year, while Korean car sales grew at a slower pace and share was eroded.

According to the data compiled by Gasgoo.com, in the first quarter of this year, the sales volume of foreign-branded SUVs increased from 357,000 to 515,500 units in the same period of last year, an increase of 44.3% year-on-year, which was higher than the overall increase of 36.8% in the SUV market. Its market share in the SUV market reached 59.6%, approaching 60%, up 3.1% year-on-year.

U.S. sales of SUVs doubled as Korean share fell

Among foreign SUVs, the sales volume of Japanese, German and American brands both increased at a high rate, faster than the overall level of the SUV market, and their share increased. Among them, the US Department of Cars performed the most eye-catching, sales in the first quarter of this year increased by 106.8% year-on-year, from 38,700 to 80,000 vehicles, its share in the SUV market has reached 9.3%, an increase of 3.1 percentage points. The sharp increase in sales volume of the US-based SUVs is mainly due to the fact that in recent years it has devoted efforts to the SUV market, introducing many new products and realizing localization, and the sales of new automobiles have rapidly increased.

The market share of Japanese and German SUVs increased by 1-2 percentage points, respectively to 20.6% and 15.9%. Their sales volume increased by 46.8% and 55.8% to 177,900 units and 136,900 units respectively. The high sales growth of Japanese SUVs was mainly related to the low base of the same period last year. Affected by the continuation of the Diaoyu Island incident, Japanese SUVs saw a sharp decline in sales during the same period last year. The German system has launched a new SUV product in recent years. New car sales have led to a high growth in German SUV sales.

Korean SUVs performed poorly. In the first quarter of this year, sales volume increased by only 6.4% year-on-year to 103,400 units. The market share dropped by 3.4 percentage points, from 15.4% to 12.0%, which was exceeded by German cars. In the same period of last year, the Japanese SUV’s share fell sharply, and Korean cars benefited a lot from the German car fleet.

Maverick sales surged 200% into the top four

In the first quarter of this year, the top ten most popular foreign-owned SUVs were Volkswagen Tiguan, Honda CR-V, Hyundai ix 35, Ford Maverick, Toyota RAV4, Nissan Qashqai, Audi Q5, Kia Zhirun, Toyota Highlander and Buick Encore. . Among them, the most eye-catching is the Maverick. As a new car that was launched in January last year, sales volume soared by 207.4% year-on-year to 32,800 vehicles, making it into the top four.

In other models, except for the low-speed growth of the ix 35, sales in the first quarter of this year all increased by double digits. Among them, Tiguan’s sales increased by 19.7% to 66,300 units, far exceeding other models. The second CR-V, although with a growth of 19.7%, has a significant gap between its sales volume of 47,000 units. Audi Q5 sales increased by 30.5% to 26,900 units, which is the fastest growing SUV other than the new car, and it is the only luxury brand SUV entering the top ten.