Luxury car dealers' plight worsens

Baolide Holding Group, a well-known automobile dealer in Zhejiang Province, encountered a crisis, and more than 13 of its 4S stores were unable to pick up cars. In recent years, luxury car dealers have faced multiple pressures, including price wars, market shrinkage, and competition from new energy vehicles. Data shows that in the first half of this year, the loss rate of domestic automobile dealers was as high as 50.8%, and the profit rate was only 35.4%. Faced with challenges, some dealers began to seek transformation, such as opening small city stores or cooperating with e-commerce platforms.