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Lang Xianping: The car giant is not in a bad transition

Lang Xianping: The car giant is not in a bad transition

The famous economist Lang Xianping told NBD automobile reporters that the era of the Industrial 4.0 has come and the auto manufacturing industry still stays in the 2.0 era. Especially for the auto giants with large volume, if the strategy in China is not transformed in time, they will face “unresolvable”. Crisis.
On August 10th, at the "Hug New Luxury - China Consumer Trend Summit Forum", Wu Yingqiu, chairman and CEO of Ryukyu Auto Group, and renowned economist Lang Xianping, a founding member of Cheung Kong Graduate School of Business & China Europe International Business School, visiting professor at Columbia University Li Jie, director of the Shanghai Jiaotong University luxury brand research center, and others started from the experience of the “break-and-break” decline in luxury products in the Chinese market.
Lang Xianping’s statistics show that since 2013, indicators such as the growth rate of railway freight turnover, thermal power generation growth, and industrial electricity growth have all shown a sharp downward trend, with almost negative growth in 2015. GDP growth.
From this, he judged that the macro economy has had a huge impact on the luxury goods market including luxury cars. The Chinese luxury goods market suffered negative growth since 2014 and the decline in 2015 has intensified. Lang Xianping said: "There is no brand exception.
The Chinese luxury car market continues the trend of the luxury goods market. After the slowdown in growth in 2014, many brands suffered negative growth this year. Wu Yingqiu said that in the past decade, luxury cars have been the leader in growth in the Chinese market, but began to cool down in the first half of the year and there has been overall negative growth. He statistics, this year's luxury car growth is negative 1.7%.
In sharp contrast to the overall market depression, whether in the luxury market or the luxury car market, “new entrants” with similar characteristics have been born one after another, with an obvious increase, indicating that consumer groups and new thinking have emerged.
Lang Xianping summed up this trait is mainly reflected in the brand dilution, that is, the brand awareness of labeling is greatly reduced, and the demand for personalization has increased significantly. According to the forum data, in 2014, the proportion of “not to choose products with obvious marks” rose from 58% last year to 65%, and the proportion of “wants to retain specific brand designs” dropped from 42% to 35%.
In the automotive industry, Wu Yingqiu introduced to NBD car reporters that ABB’s growth rate, which accounts for about 70% of the market for luxury cars, has significantly narrowed, while models such as Infiniti and Cadillac, which have a modest market share, have risen sharply. He believes that this confirms what Lang Xianping said: "The dominant brand is declining and the small weak brand is growing."
Lang Xianping believes that in the luxury industry that preceded the development of luxury cars, it was the small and micro enterprises that took the lead in adapting to the "Industry 4.0 era" to lead the trend and succeed. From the previous “61” in the era of Industry 2.0 to the “40” in the 4.0 era, the automobile manufacturing industry is also facing this change.

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