India's passenger vehicle market grew by 23% in 2022 compared to 2021
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India's passenger vehicle market grew by 23% in 2022 compared to 2021
- The Indian automobile market for passenger cars increased by 23% in 2022 compared to 2021, after an increase of 28% in 2021 compared to 2020. We are therefore clearly witnessing here a catch-up phenomenon after the low level year of Covid which had seen car sales in India fall from 3.5 million units to 2.5 million. With a volume of 3.8 million units sold in 2022, the Indian market is returning to its growth trend observed between 2014 and 2018, and this trend should continue in the medium term, even if the year 2023 should mark a downtime (see Auto Analysis 2023-02).
- It should be noted, however, that the rate of purchase of new cars in India remains much lower than that observed in China, even though these two countries have a very comparable number of inhabitants. In 2022, the gap is around 6 between the two countries: six times fewer cars are sold in India than in China with an equal population.
- Another difference marks the two markets: the Chinese market is very electrified (27.5% of BEV and PHEV in 2022) while the Indian market is practically not.
- By carmaker, the Japanese group Suzuki remains largely the Indian market leader in 2022, with 42% market share (compared to 44% in 2021). The Korean group Hyundai-Kia is twice as small as Suzuki in this market (21% market share, compared to 22% in 2021), but is ahead of the "local" Tata Group (14% market share, compared to 11% in 2021) and Mahindra (9% market share, compared to 7% in 2021) which are progressing. Follow Toyota (4% stable) and Renault-Nissan (3% against 5% in 2021).
The 20 best-selling models in the USA and China in 2022
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The 20 best-selling models in the USA and China in 2022
- The Top 20 best-selling passenger cars and pick-ups in the USA and China in 2022 clearly show structural differences within the two largest world markets.
- Thus in the USA, the three best sellers in 2022 relate to three higher segment pick-ups (Ford F Series, Chevrolet Silverado, Ram pick-up) with internal combustion engines for the most part, while in China, the three best sellers in 2022 concerns two battery electric vehicles (Wuling Mini EV, Tesla Model Y) and a plug-in hybrid vehicle (BYD Song DM), the Wuling Mini EV being A-segment, the Tesla D-segment and the BYD C-segment. This figures shows the fact that the US market is much less electrified than the Chinese market.
- In 2022, 810,000 battery electric vehicles (BEV) were sold in the USA, i.e. 5.8% of the market, while in China the number of BEV amounted to 5,029,000 units, i.e. 21.3% of the market, to which must be added 1,530,000 plug-in hybrids (PHEV), i.e. 6.5% of the market. In the USA, PHEV sales did not exceed 186,000 units (1.3% of the market). In total, BEV+PHEV represent 7.1% in the USA in 2022 (compared to 4.3% in 2021) and 27.8% in China (compared to 15.6% in 2021).
- Note that in the USA, the market leader, the Ford F-Series achieves 650,000 sales in 2022 (compared to 500,000 Chevrolet Silverado and 470,000 Ram pick-ups), and in China, the market leader, the Wuling Mini EV achieves a fairly close score, i.e. 570,000 sales in 2022 (compared to 455,000 Tesla Model Ys and 410,000 BYD Song DMs).
The UK market is down 2% in 2022 compared to 2021
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The UK market is down 2% in 2022 compared to 2021
- The UK PC (passenger car) market remained at a very low level in 2022 compared to 2021 (-2%), and especially compared to 2019 (-30%). In total, the UK registered 1,614,063 passenger cars last year, down from 1,647,181 in 2021. This is the lowest figure since 1992.
- By group, Volkswagen remains largely market leader with 345,632 units, ahead of Stellantis (193,459 units) thanks to its subsidiary Vauxhall, Hyundai-Kia (181,610 units), BMW (154,478 units) thanks to its subsidiary Mini and Renault- Nissan (136,505 units).
- The ranking by brand shows that Volkswagen dominates this market, with 131,850 units, ahead of Ford (126,826 units), Audi (110,144 units), BMW (108,624 units), Toyota (102,181 units), Kia (100,191 units).
- The best-selling models in Britain in 2022 were the Nissan Qashqai (42,704 units) which takes the top spot for the first time, the Vauxhall Corsa (35,910 units), the Mini (35,736 units), the Tesla Model Y (35,551 units) and the Ford Puma (35,088 units). We see the collapse of the Ford Fiesta and Ford Focus, traditional leaders of the British market.
The German market grows by 1.1% in 2022 compared to 2021
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The German market grows by 1.1% in 2022 compared to 2021
- The German PC (passenger car) car market is one of the few in Europe to grow in 2022 compared to 2021. In total, Germany registered 2,651,357 passenger cars last year, compared to 2,622,132 in 2021. That's up 1.1% in 2022 from 2021, but still down 26% from 2019.
- By groups, Volkswagen is well ahead of all its competitors, with 979,266 units. Stellantis is second (329,062 units) thanks to its subsidiary Opel, followed by Mercedes (256,189 units) BMW (249,864 units) and Renault-Nissan (200,750 units).
- The ranking by brand shows that Volkswagen largely dominates the German market, with 480,967 units, ahead of Mercedes (243,999 units), Audi (213,410 units), BMW (209,722 units) and Opel (144,588 units). The three German Premium brands therefore occupy 25% of the German market in 2022, which is a record.
- The top-selling models in Germany in 2022 were the Volkswagen Golf (84,282 units), Volkswagen Tiguan (59,136 units), Volkswagen T-Roc (58,942 units), Opel Corsa (50,191 units) and the Fiat 500 (47,931 units) which made a remarkable entry into the Top 5 this year thanks to the success of its battery electric version.
The Swiss market is down 5.3% in 2022 compared to 2021
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The Swiss market is down 5.3% in 2022 compared to 2021
- The Swiss PC market (passenger cars) remained at a very low level in 2022 compared to 2021 (-5.3%) and especially compared to 2019 (-27.5%). In total, Switzerland registered 225,934 passenger cars last year, compared to 238,480 in 2021.
- By groups, Volkswagen is the Swiss market leader in 2022 (75,848 units), ahead of BMW (23,555 units), Stellantis (21,845 units), Mercedes (19,560 units) and Renault-Nissan (18,490 units).
- The ranking by brands shows that Volkswagen remains the market leader, with 25,420 units, but the Premium brands are just behind, as in Germany. Mercedes sold 19,306 units, BMW 19,742 units and Audi 18,051 units.
- Top-selling models were Tesla Model Y (4,928 units), Volkswagen Tiguan (4,245 units), Skoda Octavia (4,090 units), Audi Q3 (3,876 units), Tesla Model 3 ( 3,525 units), the Toyota Yaris (3,293 units) and the Skoda Enyaq (3,246 units). The fact that Tesla places two models in the top 5 is a big surprise.