The Honda group sold 4.2 million vehicles in 2023
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The Honda group sold 4.2 million vehicles in 2023
- The Honda group (Honda, Acura) sold 4.2 million vehicles worldwide in 2023 compared to 3.8 million in 2022, which represents an increase of 10.9%. This volume allows the Honda group to remain the sixth carmaker in the world, well behind the Stellantis and GM groups.
- For several years, Honda seems to be in decline for its automotive division, the carmaker having gradually gone from 5.3 million vehicles sold worldwide in 2018 to 4.2 million units in 2023. Among Japanese carmakers, only Nissan experienced an even greater decline than Honda.
- Honda's latest models have not been as successful as expected and the late launch of electric cars has failed to meet expectations, resulting in Honda becoming one of the world's most late in the BEV market. Honda has for many years preferred to invest in the hybrid engine, like Toyota. As a result, sales of Honda BEV models are almost zero in 2023.
- Added to this is Honda's disinterest in the European market which resulted in the closure of its factories located in England and Turkey. In addition, competition in China has weakened Honda's position in this market, with its local sales gradually decreasing from 1.7 million in 2020 to 1.2 million in 2023. However, China still accounts for 31% of Honda global sales in 2023, compared to 33% for the USA and 15% for Japan.
The GM group sold 6 million vehicles in 2023
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The GM group sold 6 million vehicles in 2023
- The GM group (Chevrolet, Buick, Cadillac, GMC + Baojun and Wuling in joint venture with SAIC) sold 6 million vehicles worldwide in 2023 as in 2022, which represents real stagnation. This volume places it in fifth place worldwide in 2023, behind its competitor Stellantis. Would a merger between these two carmakers make sense, in particular to gain greater influence in the global automobile industry, compared to Chinese carmakers?
- GM and Stellantis together produce 12.4 million vehicles per year, a little more than the Toyota group, the current world leader. Stellantis and GM know each other well, because GM sold its European subsidiaries to PSA (now part of Stellantis) in 2017 and GM and Fiat have collaborated for years on platforms and engines. GM is not present at all in Europe and would not interfere with Stellantis. Stellantis, for its part, has almost disappeared from the Chinese market and would not bother GM. Stellantis is present in the USA only through its Jeep, Chrysler, Dodge and Ram brands. This competition of these brands with GM in the USA would be the only point to discuss.
- Help from Stellantis would allow GM to halt its inexorable decline (GM produced 10 million vehicles per year between 2014 and 2016), to offset its sales drop on the Chinese market, to rationalize its range with its inextricable complexity and merge their investments in electric motorization outside China. GM sold 628,000 BEVs (including 440,000 of Chinese origin), 21,000 PHEVs and 10,000 HEVs, these models representing 11% of the carmaker's total sales (including 7.5% of Chinese origin).
The Hyundai-Kia group sold 7.3 million vehicles in 2023
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The Hyundai-Kia group sold 7.3 million vehicles in 2023
- The Hyundai-Kia group (Hyundai, Kia, Genesis) sold 7.3 million vehicles worldwide in 2023 compared to 6.85 million in 2022, which represents an increase of 6.6% and places the Korean group as the third world carmaker, behind the Toyota (1st) and Volkswagen (2nd) groups. This volume is divided in 4,007,924 Hyundais, 3,085,771 Kias and 208,756 Genesis.
- The United States remains the Korean group's first market in 2023, with 1,652,821 PC+LUV sales, a market in which Hyundai-Kia held a 10.6% market share last year. South Korea remains its second market, with 1,327,903 sales and 77% market share. Europe (EU + UK + EFTA) is its third market, with 1,109,909 sales and 8.6% market share. India is its fourth market, with 857,109 sales and 16% market share. China is its fifth market, with 425,315 sales and only 1.6% market share, a market in which the Korean group tends to gradually disappear.
- In 2023, Hyundai-Kia sold 376,500 BEVs (up from 355,000 in 2022), 105,000 PHEVs (up from 120,000 in 2022) and 646,000 HEVs (up from 375,000 in 2022). These models represent 15% of the Korean carmaker's total sales.
- Despite the various battery electric vehicles offer, the Hyundai-Kia group is struggling to establish itself on the Chinese market (the most electrified market in the world) compared to its Chinese competitors (mainly BYD but not only) and the American Tesla.
- Without China, the Hyundai-Kia group will have to consolidate its positions in its four major markets, the United States, South Korea, Europe and India where competition is also fierce. This is why the carmaker plans a modest growth in 2024 compared to 2023, of around 2%.
The Stellantis group sold 6.4 million vehicles in 2023
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The Stellantis group sold 6.4 million vehicles in 2023
- The Stellantis group (Peugeot, Citroën, DS, Opel, Vauxhall, Fiat, Alfa-Romeo, Lancia, Abarth, Maserati, Chrysler, Dodge, Jeep, Ram) sold 6.4 million vehicles worldwide in 2023 compared to 6 million in 2022, which represents an increase of 6.7% and places the carmaker in fourth place in the world, behind the Toyota (1st), Volkswagen (2nd) and Hyundai-Kia (3rd) groups. Stellantis managed to increase its sales, but at a lower rate than the global market as a whole.
- The priority of the Stellantis group is to develop its 14 brands while avoiding any cannibalisation. The challenge is all the more difficult as brands like Lancia, Chrysler or Dodge have been left aside, which forces Stellantis management to start from scratch for the reconstruction of the ranges.
- Fortunately, PSA bases (platforms and engines) are used extensively for this purpose, notably for Opel, Vauxhall, Fiat, Alfa-Romeo and Lancia.
- Among the 14 brands offered by Stellantis in 2023, three have sold more than a million vehicles: Fiat, Peugeot and Jeep, Fiat being the leading brand of the group, with 1.3 million sales compared to 1.1 million for Peugeot and 1 million for Jeep. These three brands account for more than 50% of Stellantis' global sales. When it comes to battery electric and plug-in hybrid vehicles, Stellantis sold 275,000 BEVs and 265,000 PHEVs last year, with these models representing 8.5% of the group's total sales.
Geneva Motor Show 2024: MG
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Geneva Motor Show 2024: MG
The former British brand MG is today owned by SAIC. With more than 230.000 sales in Europe in 2023, it is the most successful Chinese car brand on this market (providing that Volvo is still considered as a European carmaker).
- MG 3: This vehicle might be MG’s biggest revelation. This B-segment HEV sedan is tailored for the mass market, and could be marketed at around 18.000 €, a very competitive price in Europe. It is remarkable that MG announced this model as a full-hybrid, as such cars have a rather flat market share in Europe and their market is strongly dominated by Japanese carmakers. This car will be in competition with the Toyota Yaris, Dacia Sandero, Opel Corsa, Renault Clio, Peugeot 208 and the VW Polo. Inovev estimates the European sales volume of the MG 3 at around 70.000 in 2030.
- MG Cyberster: This BEV Roadster will be probably marketed in 2024 and was already displayed on other shows. At Geneva Motor Show, MG will revel more details. Inovev estimates the European sales volume of the MG 3 under 1.000 in 2030.
- IM L6: MG will introduce its new sub brand IM (Intelligent Mobility) which will completely focus on BEVs and advanced technologies. IM will also revel the first model of its brand, the L6. From the so far published images, we conclude it might be a D or E segment sedan. Interesting is that the battery may come in two different configurations. It shall be available with a lithium-ion battery, which should enable 600 km range, or with a solid-state battery (or maybe semi solid), which should enable 800 km range, based on WLTP standards. As by now, very little is known about this model. Therefore the estimation of Inovev for the European sales volume of this model ranges between 2.000 and 8.000 units per year for 2030.