Chinese carmakers represent 8.5% of the European BEV market in the first quarter of 2024
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Chinese carmakers represent 8.5% of the European BEV market in the first quarter of 2024
- While Chinese carmakers represent only 2.5% of the European light vehicles market (passenger cars and light utility vehicles), all motorisations combined, over the first four months of 2024 (27 European Union countries + United Kingdom + Switzerland + Norway), they already represent 8,5% of the European battery electric vehicles market (BEV) over the same period. They have in fact registered just over 50,000 BEVs out of 594,000 BEVs between January and April 2024.
- This situation demonstrates that Chinese carmakers have mainly entered in Europe thanks to their battery electric models, and this sales volume does not take into account European models imported from China, such as the Smart or the Dacia Spring. If we include these three models, the market share of BEVs imported from China increases to 11% over the first four months of 2024.
- If we also include the BMW iX3 and Tesla Model 3 imported from China which are not assembled in factories owned by Chinese carmakers, the market share of BEVs imported from China rises to 17%.
- What are the best-selling Chinese BEV brands in Europe in the first quarter of 2024?
- The MG brand (belonging to the SAIC group) is in the clearly taking the lead as it sold 27,000 BEV over the period, or 54% of all Chinese brands, i.e. more than half.
- In second position, BYD registered 10,000 BEV sales, a strong growth compared to the first four months of 2023 (i.e. 20% of all Chinese brands).
- In third position, Polestar (6,500 sales, or 13% of all Chinese brands).
- The other Chinese brands represent 6,500 sales or 13% of all Chinese brands.
The range of BEVs of GM in USA is expanding
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The range of BEVs of GM in USA is expanding
- After a period of conservatism in the battery electric vehicle market with the Chevrolet Bolt then the Silverado EV pick-up, the GM group announces that it is investing more massively with high-margin models. This strategy does not integrates the BEVs sold in China under the Wuling and Baojun brands which are small cars specifically designed for the Chinese market. In North America, the GM group targets mid-range and high-end SUV customers, which are the most popular vehicles in this region.
- The GM group concluded an agreement in 2022 with the Japanese Honda to design and produce new battery electric vehicles intended mainly for the American market. But this agreement was recently cancelled by Honda and consequently, the GM group must continue alone on the path of electrification of its models.
- The battery electric platform designed by GM and Honda will therefore have only been implemented twice at Honda (Honda Prologue and Acura ZDX) but it already mounted on six models at GM (Chevrolet Blazer EV, Chevrolet Equinox EV, Buick Electra E4, Buick Electra E5, Cadillac Lyriq, Cadillac Optiq) to which other models could be added in the future.
- This platform named GM BEV3 by the American carmaker covers vehicles from 4.75 m to 5.00 m and will be joined in the medium term by a smaller GM BEV2 platform for compact models (4.50 m to 4.75 m) and in the longer term by a GM BEV1 platform intended for subcompact models (4.25 m to 4.50 m). Compared to Tesla, GM's BEV models are distinguished by a different design adapted to each brand. The volumes produced (250,000 units per year worldwide for all six models), however, will be much lower than (1.2 million SUVs produced worldwide in 2023).
The Suzuki Baleno is the most produced car in India in 2023
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The Suzuki Baleno is the most produced car in India in 2023
- India is the fifth largest automobile producing country in the world (5.8 million passenger cars and light utility vehicles produced in 2023) behind China, the EU, the United States and Japan. Thanks to its small cars, the Japanese Suzuki has occupied the largest share of the Indian market and Indian automobile production since the 80s. Even today, Suzuki represents 40% of the Indian market and Indian automobile production.
- For many years and until 2017, the small Suzuki Alto occupied the first place in the market and in local production, but since then, the Indian market and production have become relatively more middleclass.
- No premium model in the Top 10 but the models present in this Top 10 are a little larger and a little more expensive than the old Alto. There are seven Suzuki models in the Top 10 in 2023. There is no undisputed leading model that is well ahead of the other models. The differences between the top ten models remain small.
- The most produced model last year was the Suzuki Baleno (B-segment sedan) ahead of the Suzuki Swift (B-segment sedan), the Suzuki Wagon R (B-segment SUV) and the Suzuki Dzire (B-segment sedan, in deed a 4 doors derivate from the Swift). These are followed by the Tata Nexon (B-segment SUV), Suzuki Brezza (B-segment SUV = Suzuki Vitara), Hyundai Creta (B-segment SUV), Tata Punch (A-segment SUV), Suzuki Ertiga (B-segment MPV) and Suzuki Eeco (rustic A-segment minivan).
- India therefore remains a country of small cars (A and B segments). The electric market is nearly inexistent (0.5% of BEVs on the Indian market in 2023).
The Chevrolet Onix is the most produced car in Brazil in 2023
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The Chevrolet Onix is the most produced car in Brazil in 2023
- Brazil (2.2 million passenger cars and light utility vehicles produced in 2023) fell to eighth place in the world in 2023, behind South Korea and Mexico, but this country remains a country with high potential given its population and (slow) development of its middle class. The three most important carmakers in the country traditionally remain GM, Fiat and Volkswagen.
- The most produced car in Brazil last year remains the Chevrolet Onix launched in 2012 and renewed in 2022. This model, which is also the best-selling model in Latin America in 2023, has held this leading position in Brazil since 2016. It succeeds the Volkswagen Gol which held the leading position for several decades and which has now completely disappeared. The Hyundai HB20, which is its direct competitor, is in second position, followed by the Fiat Strada pick-up. In fourth position, the Volkswagen Polo is not doing as well as the old Gol. Behind, different models are very close one to the other, such as the Renault Kwid, Volkswagen T-Cross, Toyota Corolla Cross, Chevrolet Tracker, Hyundai Creta and Fiat Argo.
- Overall, the Brazilian Top 10 production increasingly look likes the Indian Top 10, with models from A and B segments, addition of small sedans (five models in the Top 10) and small SUVs (four models in the Top 10), illustrating the still relatively low purchasing power of Brazilian customers. The Indian clientele, which comes from afar, has partly caught up with the purchasing power of the Brazilian clientele, at least when we compare the Top 10 of the two countries.
- Like in India, the electric market is nearly inexistent (0.7% of BEVs on the Brazilian market in 2023).
The Hyundai Avante is the most produced car in Korea in 2023
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The Hyundai Avante is the most produced car in Korea in 2023
- South Korea is today among the largest automobile producers (sixth position with 4.3 million passenger cars and light utility vehicles produced in 2023 behind China, the EU, the USA, Japan and India) even although this industry remains recent compared to most other major producing countries, as it really started in the 80s.
- Among one goupr since the end of the 90s, Hyundai and Kia share the largest share of Korean automobile production (nearly 80%).
There are eight models from these two brands in the Top 10. However, there is no undisputed leading model that is well ahead of the other models. The differences between the top ten models remain small.
- The most produced car in Korea in 2023 is the Hyundai Avante, a C-segment sedan (known as the Hyundai Elantra in other markets), which is also the only sedan in the Top 10, since the other nine models are SUVs.
- In 2023, the Kona is the second most produced model in Korea behind the Avante. The Tucson is sixth. Its competitor the Kia Sportage is fifth. Third and fourth places are occupied by the Chevrolet Trailblazer and Chevrolet Trax SUVs, which benefit from these enviable positions thanks in particular to strong exports to North America. The GM group has a factory in Korea which allows it to produce low-cost vehicles and export them to North America.
- The Hyundai Sonata (D-segment sedan), which has long been part of the Top 3 in Korea, has not been part of it for several years, with customers having massively shifted to SUVs (Tucson, Sportage, Niro, Sorento, Palisade, Seltos).
- The electric market is still in a first phase of development (9.5% of BEVs on the Korean market in 2023).
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