Toyota becomes the second best-selling brand in Europe in 2022
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Toyota becomes the second best-selling brand in Europe in 2022
- At the brand level, the European market recorded a small evolution in 2022. The Volkswagen brand remains the leader (1,197,455 units) but the Toyota brand (766,769 units) overpassed the Peugeot brand (619,173 units) partly due to the renewal of the Toyota Aygo while the Peugeot 108 has disappeared. But the launch of the Yaris Cross also played an important role in the development of sales of the Japanese carmaker. In addition, the Peugeot brand is overtaken by the Premium carmakers BMW (646,538 units) and Mercedes (634,697 units) whose customers do not a priori fear high prices.
- The Premium carmaker Audi (614,545 units) is also very closed to the Peugeot brand, which falls in 2022 from second place to fifth place. The Renault brand falls from fifth place to seventh. Conversely, Kia (542,423 units) moved from eleventh place to eighth. Hyundai (518,566 units) retains its tenth place. The Korean is supplanted by Skoda (538,623 units) which nevertheless loses a place. Ford (516,614 units) falls from ninth to eleventh place. Dacia (475,511 units) moved up from fifteenth place to twelfth, somewhat compensating for the decline of the Renault brand. Opel (428,145 units) falls from twelfth to thirteenth place. These 13 brands represent almost 3/4 of the European market in 2022.
- It is also interesting to note that Tesla sold 231,324 BEVs on the European market in 2022, and that whole Chinese carmakers (Volvo not included) achieved a volume of 194,337 units last year, against 82 397 in 2021, which demonstrates the dynamism of these brands, especially in a declining global market. The relevance of these brands is that they attack the market with lowest prices, which may interest a certain part of European customers.
The European light vehicle market is expected to increase very slightly in 2023
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The European light vehicle market is expected to increase very slightly in 2023
- The European market (European Union + Great Britain + Switzerland + Norway) for light vehicles (passenger cars and utility vehicles) fell for the third consecutive time in 2022 (-6% compared to 2021) to 12.9 million units. But is this market fated to decline again in 2023? Inovev has established three forecast scenarios for 2023: A low scenario in which the market is almost stable (-0.7%), a reference scenario with a very slight increase of the market (+1%) and a high scenario with a significant increase of 4%.
- It can be observed that the very poor situation in the first half of 2022 (compared to the first half of 2021) has greatly improved in the second half. The recovery started in August (+3.4%) and amplified in September (+7.9%), in October (+14%), in November (+17.6%) and in December (+ 14.7%).
- Basically the dynamics of the market should not change drastically in 2023 compared to 2022, given the economic and political environment which should not evolve strongly this year. We should therefore be able to reach a volume of slightly more than 13 million units in our reference scenario. A figure still far from the 17.3 million reached in 2019. More significan market growth could however occur from 2024 with an expected increase of 5 to 6%.
- Regarding sales of xEVs in Europe, Inovev estimates that for 2022 around 1.4 million BEVs have been sold as well as 930,000 PHEVs and 920,000 HEVs and finally 1.4 million MHEVs. Total sales of xEVs in Europe therefore reached nearly 5 million units in 2022, or 45% of the European passenger car market compared to 41% in 2021, which suggests that we could reach the 50% mark in 2023.
Turkish passenger car market grew by 5.5% in 2022 compared to 2021
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Turkish passenger car market grew by 5.5% in 2022 compared to 2021
- The Turkish passenger car market remained at a good level in 2022, with a volume of 592,660 units, representing an increase of 5.5% compared to 2021. The Turkish market returns to the level of 2020, but still remains distant of the period 2015-2017 when it exceeded 700,000 units per year.
- Lets remind that in 2008, the Turkish market had fallen to 300,000 units and had gradually begun a slow rise to the 700,000 units per year just mentioned. The Turkish market, often subject to economic uncertainties, had gradually fallen to 400,000 units in 2019, before rising again from 2020 to 2022.
- More generally, the last two years show that Turkey has not really suffered from the logistical problems announced by the various carmakers, nor from the semiconductor crisis, nor from the war in Ukraine. In addition, electrification is completely absent from the Turkish market today while the Turkish government this year launched the project of a new local 100% electric carmaker: Togg.
- Despite the departure of Honda last year, the Turkish market is supplied by carmakers producing locally such as Stellantis whose market share increases from 27% to 31% between 2021 and 2022, Renault-Nissan whose market share increases from 21 % to 23% or Hyundai-Kia whose market share goes from 9% to 11%. At Stellantis, the Fiat brand represents the bulk of sales in the Turkish market, which has remained a very present brand since the 1960s.
The Russian passenger car market collapses by 58.8% in 2022 compared to 2021
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The Russian passenger car market collapses by 58.8% in 2022 compared to 2021
- The Russian passenger car market collapsed by 58.8% in 2022 compared to 2021, to 687,370 units from 1,666,780, and this sharp drop is directly linked to the conflict between Ukraine and Russia. This situation caused the interruption of exports of European cars to Russia and the end of production of factories producing European cars in Russia, which then expanded to Japanese carmakers such as Toyota or Nissan. Only Korean carmakers remained (Hyundai, Kia). American carmakers (GM, Ford) left Russian territory several years ago.
- One of the consequences of the departure of European and Japanese carmakers was the separation of the Lada brand (Avtovaz) from the Renault-Nissan group as well as the resurrection of Moskvitch on the bases of Renault Russia.
- As a result, the carmakers that have maintain their presence dominate the Russian market, in particular the Chinese brands, which have seen their market share increase from 7% in 2021 to 20% in 2022 (i.e. a tripling of their market share), but their sales volumes however are also down.
- If the conflict between Ukraine and Russia continues in 2023, it is certain that the share of Chinese carmakers will still increase sharply to reach around 40% this year, which will represent a doubling of their market share, not to mention new Moskvitch which are rebadged Chinese cars.
The Japanese passenger car market is down 6.2% in 2022 compared to 2021
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The Japanese passenger car market is down 6.2% in 2022 compared to 2021
- Japan's passenger car market fell again in 2022, the fifth consecutive decline since 2018. The decline reached 6.2% in 2022 compared to 2021, -3.5% in 2021 compared to 2020 and -11.4% in 2020 compared to 2019. In 2022, we fall back to the level of 2011, the weakest year of the decade for Japan.
- As for the other markets, the Japanese market seems to have suffered logistical problems linked to supply shortages, but this decline could also be explained by the aging of the population and the lower interest of consumers in acquiring a new vehicle, because the Japanese market has not only stopped growing for decades, but has been in constant decline.
- In 2022, 3.5 million passenger cars were therefore sold in Japan, 93% of which were local brands, as Japan still remaining a very closed country in terms of imports (only 7% of the market, a figure that does not vary not for several decades). It could be expected that the opening of imports to Japan could have instilled a new dynamism in the market, which could have stimulated the Japanese carmakers themselves. Until today, nothing is changing.
- In this context of a closed market, the Toyota group monopolizes 43% of the Japanese market, well ahead of its competitors Honda (16%), Suzuki (14%), Renault-Nissan (13%), Mazda (4%) and Subaru. (3%). One reason for Toyota's global leadership position is its strong position in its home market, where it sold 1.5 million passenger cars last year.