Geneva Motor Show 2024: A smaller show but with high challenges
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Geneva Motor Show 2024: A smaller show but with high challenges
- The Geneva Motor show is now coming back from 26.02. to 03.03.2024. It has been held every year since 1905 and was interrupted by the pandemic between 2020 and 2023 (2023 edition was held in Qatar).
- But this edition will take place under difficult circumstances.Already the last edition in 2019 welcomed 602.000 visitors, around 9% less visitors than the 2018 edition. The Qatar-Edition in 2023 could only attract 180.000 visitors. Additionally the European carmakers want rather to present themselves in their home-country exhibition. This could be observed at the Mondial Paris 2022, which was basically a French-Chinese show and at the IAA 2023 in Munich, which was a German-Chinese show. Or they wait for the new relevant Shanghai/Beijing Motor shows or recently the CES in Las Vegas, which drew major attention.
- Both, carmakers and event managers seem to have acknowledged those facts. The restart of the Geneva Motor show looks therefore rather small. In 2019 the event occupied 6 of the 7 expo-halls (surface:106 000 m2) and 93 exhibitors presented 29 novelties. This time there will be only 2 halls (surface: 60 000 m2) to visit with around 20 exhibitors from which only 4 are major carmakers: Renault, Dacia, BYD and MG. Others to mention are Isuzu, Lucid, Silence, Microlino and Pininfarina.
- The event managers want to fight the lack of exhibitors with a new show-concept. Therefore there will be additional and partially interactive show-rooms for car-related themes like racing, mobility, vintage or design.
Global automobile production increased by almost 10% in 2023
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Global automobile production increased by almost 10% in 2023
- While the global vehicle market (PC+UV = passenger cars, light and heavy utility vehicles) increased by almost 13% in 2023 compared to 2022, catching up partially the sales missed in 2020-2021-2022. The global volume production of light vehicles increased by almost 10%.
- This observation indicates that the year 2023 was a period of destocking (more sales than production) after a year 2022 which had been marked by massive restocking after two years of destocking (2020-2021) due to the COVID crisis followed by the semiconductor crisis, which had disrupted the activity of automobile factories.
- The volume of PC+UV production has thus exceeded the 90 million mark in 2023, after having plunged to less than 80 million units in 2020, but we are still far from the figures recorded in 2017 and 2018, which were close to 100 million.
- The main producing countries remain China (33% of world automobile production), Europe 29 countries (16% of world production), the United States (12% of world production) and Japan (10% of world production). Seven out of ten vehicles leave an assembly plant in these countries.
- Behind, we note the presence of India (6% of world production) ahead of South Korea (5% of world production), Mexico (4% of world production) and Brazil (2% of world production). Note that production in Russia remained as low as in 2022, the sharply increasing market in 2023 having been mainly supplied by imports from China.
Top 20 best-selling vehicles in the USA in 2023: Pick-ups are sill leading the ranking
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Top 20 best-selling vehicles in the USA in 2023: Pick-ups are sill leading the ranking
- The US market reached 15.6 million light vehicles (PC+LUV) in 2023, an increase of 12.2% compared to 2022. Of this total, sedans and coupes represented 3.36 million sales (the station wagons and convertibles having practically disappeared from the US market) or 22% of the market last year. The most popular vehicles are SUVs which represented 8.68 million sales, or 56% of the market, in constant growth for around twenty years. Pick-ups represented 2.86 million sales, or 18% of the market. The remaining 4% is occupied equally by vans MPVs (300 000 sales each) which have declined significantly over the past twenty years.
- The ranking of the 20 best-selling vehicles in the USA last year reveals the presence of 5 pick-ups including 3 in the first three places (Ford F Series, Chevrolet Silverado, Ram pick-up) as in previous years or decades previous ones we should say. There are 10 SUVs, including 4 of American origin (Tesla Model Y, Jeep Grand Cherokee, Chevrolet Equinox, Ford Explorer), 5 of Japanese origin and 1 of Korean origin.
- There are 4 sedans among the Top 20, including 1 of American origin (Tesla Model 3) and 4 of Japanese origin (Toyota Camry, Toyota Corolla, Honda Accord, Honda Civic), the Toyota Camry being the best-selling of the sedans.
- Among the 20 best-selling models in the USA in 2023, 10 are of Japanese origin and 9 of American origin. Among the sedans only the Tesla Model 3 is from Americans origins. In 2023, the strongest progress will be made by the Tesla Model Y.
Top 20 best-selling vehicles in China in 2023: BYD places 6 models
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Top 20 best-selling vehicles in China in 2023: BYD places 6 models
- The Chinese market reached 28.6 million light vehicles (PC+LUV) in 2023 (including 25.9 million passenger cars and 2.7 million light utility vehicles), an increase of 11.3% compared to 2022. Of this total, sedans, station wagons, coupes and convertibles represented 11.2 million sales or 39% of the market last year.
- The most popular vehicles are SUVs which represented 13.3 million sales, or 46% of the market, in constant growth for around twenty years. The remaining 15% is occupied by MPVs (1.1 million sales; 4% of the market), minivans (300 000; 1% of the market) which have declined significantly over the past twenty years and vans (2.7 million sales; 10% of the market).
- The ranking of the 20 best-selling vehicles in China last year reveals the presence for the first time of 6 BYD brand models, including 4 in the first 5 places. This is a performance which allows us to understand why this carmaker has almost doubled its sales in China between 2022 and 2023… However, the best-selling model in China in 2023 is the Tesla Model Y (locally produced) as in 2022, but with more than 600,000 sales last year, this model is well ahead of all its pursuers.
- Three Volkswagens still appear in the Top 20 but the good days for the German carmaker have passed and will not return, in particular because the market share of Chinese carmakers continues to increase (57% in 2023). The Wuling Bingo took over from the WulingHongGuang but its sales are lower due in particular to competition from the recent BYD Seagull which sells better than it (280,000 units compared to 235,000).
Top 20 best-selling vehicles in Europe in 2023: Tesla in pole position
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Top 20 best-selling vehicles in Europe in 2023: Tesla in pole position
- The European market (29 countries: EU without Malta + UK + Switzerland + Norway) reached 14.7 million light vehicles (PC+LUV) in 2023 (including 12.8 million passenger cars and 1.9 million light utility vehicles), up 13.9% compared to 2022. Of this total, sedans, station wagons, coupes and convertibles represented 5.73 million sales or 39% of the market last year.
- The most popular vehicles are SUVs which represented 6.91 million sales, or 47% of the light vehicles market, in constant growth for around twenty years. Vans represented 1.9 million sales, or 13% of the market. The remaining 1% is occupied by MPVs (150 000 sales) which have declined significantly over the past twenty years.
- The ranking of the 20 best-selling vehicles in Europe last year reveals the presence of 11 SUVs and 9 sedans. Among the 11 SUVs, 5 are from the B-segment, 5 from C-segment and 1 from the D-segment. Among the 9 sedans, 6 are from B-segment, 2 are from C-segment and 1 from A-segment, a segment which is in sharply declining in Europe.
- The best-selling model in Europe in 2023 is the Tesla Model Y, which is making the strongest progress compared to 2022. The start of its production near Berlin has encouraged this strong growth. The former European market leader, the Peugeot 208, finds itself in fifth position in 2023, behind the Dacia Sandero (2nd in the ranking), the Volkswagen T-Roc (3rd) and the Renault Clio (4th). The Opel Corsa (6th) is ahead of the Volkswagen Golf which had lost its position as best-selling car in Europe in 2022. The Ford Puma replaced the Ford Fiesta. The recent Toyota Yaris Cross (8th) did not compete the Toyota Yaris (14th). The Hyundai Tucson and Kia Sportage based on the same platform are part of the Top 20. The Nissan Qashqai narrowly returns to the Top 20.