Some car brands could exit the Chinese market
- While the production volume of passenger cars in China increased by 8% between the first quarter of 2022 and the first quarter of 2023, several brands saw their production volume drop sharply during this period, which could suggest that some brands are gradually exiting the Chinese market, in favor of Chinese local brands. We can define two groups of brands in strong decline on the Chinese market: on one hand most Japanese and Korean brands, and on the other, a certain number of American and European brands.
- Japanese and Korean brands.
Hyundai's production volume fell by 13% between the first quarter of 2022 and the first quarter of 2023, Honda by 17%, Nissan by 20%, Mazda by 45%, Kia by 53%, Infiniti by 56%, Mitsubishi by 74%. As for Suzuki, its production was definitively stopped in December 2022.
Hyundai's production volume fell by 13% between the first quarter of 2022 and the first quarter of 2023, Honda by 17%, Nissan by 20%, Mazda by 45%, Kia by 53%, Infiniti by 56%, Mitsubishi by 74%. As for Suzuki, its production was definitively stopped in December 2022.
- American and European brands.
Cadillac's production volume fell by 17%, DS by 19%, Peugeot by 28%, Citroën by 34%, Lincoln by 45%, Skoda by 69%. As for Jeep, its production was permanently halted in June 2022.
Cadillac's production volume fell by 17%, DS by 19%, Peugeot by 28%, Citroën by 34%, Lincoln by 45%, Skoda by 69%. As for Jeep, its production was permanently halted in June 2022.
- It should be noted that the Wuling firm accounted in the American group GM saw its production drop by 45% due to the fall in sales of the Hongguang Mini EV which had nevertheless become the best-selling car in China in 2021 and 2022. The reasons of this fall are currently being analysed by Inovev.