Evolution of the Saudi automobile market
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Evolution of the Saudi automobile market
- The evolution of the Saudi automobile market is often dependent on the evolution of oil prices, which remains an essential product for the country's wealth. When prices fall, the enrichment of the country is less important and the automotive market falls and vice versa, when prices rise the Saudi market rises again.
- For the past two years, oil prices have been on the rise again and therefore the automobile market is increasing. In 2022, it reached a volume of 651,484 units (PC+LUV) compared to just under 500,000 units in 2020. But it reached more than 750,000 units per year during its best years, as in 2014, 2015 and 2016, with sales peaking in 2015 with a volume of nearly 900,000 units.
- The Saudi market is mainly a sedan market (280,000 sales in 2022) especially C and D segments (220,000 sales) and SUVs (250,000 sales) especially C and D segments (200,000 sales). Sedans represent 43% of the Saudi market and SUVs 38%. Pickups represent 11% of total sales, with 73,000 units in 2022. Minivans represent only 1% of total sales. Finally, 7% of the market concerns Vans and other light utility vehicles.
- In 2022, the Toyota group consolidates its position on the Saudi market (33% of total sales), ahead of the Hyundai-Kia group (19% of total sales). Chinese brands already account for 16% of total sales in the Saudi market. European carmakers are very little present on this market (less than 3% of total sales).
- The three best-selling models in 2022 were the Toyota Camry (38,124 units), Toyota Hilux (31,148 units) and Toyota Yaris (30,265 units) ahead of the Hyundai Elantra (25,097 units) and Hyundai Accent (18,297 units).
Evolution of the Israeli car market
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Evolution of the Israeli car market
- The Israeli car market has evolved between 200,000 and 300,000 vehicles per year for the past ten years, the bar of 300,000 units having never been reached. However, it could be crossed in 2023 or 2024. In 2022, a volume of 269,504 vehicles were registered in this market, down slightly from 2021. Like the Saudi automotive market, the Israeli market is solely dependent on imports.
- The Israeli market is above all an SUV market, as these (especially C-segment) represent 147,000 units in 2022, i.e. 55% of total sales. Sedans represent 103,000 units (mainly C-segment) or 38% of total sales. The rest consists of 7,500 vans (3% of the market), 6,500 MPVs (2% of the market) and 5,500 pick-ups (2% of the market).
- By carmaker, the Korean group Hyundai-Kia consolidates its leading position in the Israeli market in 2022, with 30% of total sales, well ahead of the Toyota groups (14% of total sales) and Volkswagen (11% of total sales). Chinese brands already account for 7% of total sales. Despite the dominant position of Hyundai-Kia, we note that Japanese carmakers represent a total of 32% of the Israeli market, more than the Korean carmaker. Apart from Volkswagen and Stellantis, European carmakers are not very present in this market.
- By model, the Kia Picanto sold 12,968 units last year, ahead of the Toyota Corolla (10,748 units), Hyundai Tucson (7,443 units) and Mazda 2 (6,940 units). Note that battery electric vehicles were sold at 24,693 units (9% of total sales), full hybrids at 11,117 units and plug-in hybrids at 5,067 units.
Inovev forecasts 100,000 units per year of the new Ford Explorer BEV in 2030
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Inovev forecasts 100,000 units per year of the new Ford Explorer BEV in 2030
- The American carmakers GM, Ford and Chrysler have experienced difficulties in the European market since the 1970s. The Chrysler group sold its European subsidiaries to PSA in 1978 and the GM group sold its to PSA in 2017. Only the Ford group survives in Europe with its European subsidiaries, but its production rates have collapsed on the Old Continent. In the last twenty years alone, the fall has been colossal. The production volume has thus fallen from 1.2 million passenger cars to less than 600,000 units in 2022.
- The (late) decision to switch to battery electric technology has accelerated the phenomenon, as after the discontinuation of the Mondeo and Galaxy/S-Max, Ford recently announced that the production of the Fiesta would be discontinued in 2023 and of the Focus in 2025. To replace the entire old range, Ford has indicated that it will launch six battery electric vehicles, including two produced in Cologne (Germany), two in Craiova (Romania), one in Valencia (Spain) and one in Kocaeli (Turkey).
- The first has just been introduced. It is a 4.46m long C-segment SUV based on the MEB platform of the Volkswagen ID4. This new model, called Explorer, will be produced at the Cologne site, where it will replace the Ford Fiesta this summer.
- The product name Explorer already existed to designate a large E-segment plug-in hybrid SUV 5.06m long and produced in the United States, a small number being exported to Europe. This model is expected to continue its commercial career for some time. For the new BEV Explorer, Inovev forecasts a volume of 50,000 units in 2024, then a gradual increase in sales to reach 100,000 units per year from 2030.
The Vietnamese market in 2022
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The Vietnamese market in 2022
- The Vietnamese automotive market remained at a very low level for a long time, around 50,000 vehicles per year, all imported. The start of the Vietnamese market really began in 2013 and its growth has only intensified since then, reaching 200,000 in 2016, 250,000 in 2019 and 300,000 in 2022. We are therefore witnessing a real market in creation, as China from 2005, which tends to show that a middle class able to buy a car is emerging in Vietnam.
- It is in this context that assembly plants (CKD) began to multiply in Vietnam in the 2010s, which makes it possible to assert that today 70% of vehicles registered in this country come from local factories, while only 30% comes from imports.
- In 2019, local conglomerate Vingroup built a Vinfast car factory in Haiphong. It is the first automobile factory developed by a Vietnamese company. But Vinfast models are sold in low quantities today (less than 5% market share in 2022).
- The main brands sold in Vietnam are Japanese. Toyota, Mazda, Mitsubishi, Honda and Suzuki represent 71% of the Vietnamese market in 2022. The Koreans Hyundai and Kia represent 21% of the Vietnamese market. The Japanese and Koreans therefore represent 92% of this market. The Nissan brand stopped selling cars in Vietnam in 2020. The GM group stopped its distribution in 2018, but Ford continues with 4% of the market in 2022. Stellantis also holds 4% of the Vietnamese market, via the Peugeot brand. It is to be noted that Chinese brands are currently absent from this market.
Inovev forecasts 300,000 units per year of the new Hyundai Kona in 2030
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Inovev forecasts 300,000 units per year of the new Hyundai Kona in 2030
- Hyundai presented the new generation of its compact SUV, the Kona, produced in thermal version in South Korea and in battery electric version in Europe (Czech Republic). Its launch onto market should take place at the beginning of next summer. In recent years, the electric version accounted for 20% of total Kona production. The new generation should do better and reach a share of at least 30%.
- The new generation is much longer than the old, reaching 4.35 m in length, 15 cm longer than the old generation, which now places it in the C-segment market, such as the recent Kia Niro (which shares the same Hyundai-Kia Group K3 platform) whose length reaches 4.42 m. In fact, the new Kona is as long as the old Kia Niro (C-segment). It has more interior space than the old Hyundai Kona.
- In terms of motorization, the new Kona is available in a full hybrid version (HEV) and in a battery electric version (BEV), but the thermal and plug-in hybrid (PHEV) versions are not scheduled by the carmaker, while the Kia Niro is PHEV and BEV versions.
- Compared to the previous generation, the prices of the new Kona take a significant jump, even surpassing those of the Kia Niro. Inovev forecasts 300,000 sales of the new Kona per year from 2030, including 200,000 units in the hybrid version and 100,000 in the battery electric version by 2030 (with a sales volume in 2024 of 50,000 units), which will remain produced in the Czech Republic, like the older generation.
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