The Japanese automobile market declined by 12.1% in the first half of 2024
- 说明
The Japanese automobile market declined by 12.1% in the first half of 2024
- The Japanese automobile market for passenger cars fell by 12.1% in the first half of 2024 compared to the first half of 2023, going from 2,047,694 units to 1,800,077 (for the record: first half of 2023/first half of 2022 = +19.5%).
- The main reasons for this sharp drop are essentially explained by the certification test fraud scandal at Daihatsu, a subsidiary of the Toyota group and one of the two main producers of midgets with Suzuki, its competitor.
- Daihatsu production had to be stopped for several weeks during the first quarter of 2024, which led to a collapse in the brand's sales between January and June 2024, falling from 229,000 units in the first half of 2023 to 69,000 in the first half. 2024, which represents a drop of 160,000 sales only partially offset by Suzuki (+48,000 sales) and Honda (+61,000 sales) which also manufacture midgets.
- But the backlash was felt at Toyota, the owner of Daihatsu, which itself suffered a drop of 166,000 sales in the first half of 2024, going from 775,000 sales to 609,000, a fall offset by no other manufacturer.
- Nissan is stable (208,000 sales versus 209,000) like Subaru (47,000 sales versus 46,000). Mazda is even in decline (64,000 sales compared to 93,000). Only Mitsubishi saw its sales increase, but very modestly (52,000 sales compared to 45,000).
- After the dismissal of Daihatsu's CEO in February 2024, the brand's production has gradually restarted and things have started to return to normal since May-June.
The US automobile market grew by 3.0% in the first half of 2024
- 说明
The US automobile market grew by 3.0% in the first half of 2024
- The US automobile market for passenger cars increased by 3.0% in the first half of 2024 compared to the first half of 2023, to 7,897,285 units compared to 7,670,589 (for the record: first half of 2023/first half of 2022 = +14.8%).
- This market remains at a level similar to that of 2023 thanks to a favorable economic situation.
- At this rate, the US market could reach 16 million units for the whole year, but 17 million had been exceeded each year between 2015 and 2019.
- Which manufacturers made the most progress in the first half of 2024?
• Toyota is the manufacturer which grew the most (+14%) during this half-year and now occupies 15% of the US market, just behind the GM group which occupies 16% of the market.
• Honda is also progressing (+9%) and now occupies 9% of the US market, placing itself in fifth position on this market and ahead of the Stellantis group for the first time, represented mainly by Chrysler, Dodge, Ram and Jeep.
• Stellantis declined sharply (-16%) due to the discontinuation of the Chrysler 300, Dodge Charger, Dodge Challenger, Jeep Renegade, Jeep Compass, which is a lot. As a result, Stellantis (9% of the market) is now supplanted by Honda, Hyundai-Kia.
• Ford (13% of the market) maintains its third place at a good distance behind the GM and Toyota groups.
• Tesla is stable in tenth place (3.7% of the market) behind Volkswagen (4% of the market) but ahead of BMW and Mercedes.
Dongfeng will build an assembly plant in Italy
- 说明
Dongfeng will build an assembly plant in Italy
- Dongfeng is one of the major Chinese automobile manufacturers. It works chiefly with foreign manufacturers, such as Honda, Nissan, Kia, Renault and Stellantis.
- It was with PSA that Dongfeng began working with foreign manufacturers in 1992. Dongfeng was then called SAW, which means Second Automobile Works, this manufacturer having been the second Chinese manufacturer chronologically. The first Chinese carmaker chronologically is FAW (First Automobile Works) which still retains this name today. Hongqi (“red flag”), its flagship brand, used to produce prestige cars for the Chinese government and influential members of the Communist Party, modeled on the ZILs of the Soviet Union. Dongfeng has produced the Citroën ZX under the Fukang name for several decades while FAW has worked with Volkswagen, producing the Santana for a comparable period.
- Today, Dongfeng is in clear decline, facing much more dynamic Chinese manufacturers like BYD, Geely, Chery or Changan, having also lost a lot on the JV side with foreigners constantly retreating from the Chinese market.
- To revive its activity, Dongfeng made the decision to produce cars in Europe for this market. At the beginning of August, an agreement (MOU: Memo of understanding) was reportedly signed with the Italian government (MIMIT: MinisterodelleImpresse e del Made in Italy) for the construction of an assembly plant in Italy.
- The Italian state could take a minority stake in Dongfeng on this occasion. Italy wishes to attract manufacturers other than Stellantis, which represents almost all of production in Italy, and intends to increase national automobile production in the short term to 1.3 million vehicles per year, compared to less than 800,000 in 2023. , which would return to the 2007 level. The country would also be in talks with other Chinese manufacturers, including Chery.
The Chinese automobile market grew by 6.3% in the first half of 2024
- 说明
The Chinese automobile market grew by 6.3% in the first half of 2024
- The Chinese automobile market for passenger cars increased by 6.3% in the first half of 2024 compared to the first half of 2023, to 11,976,050 units compared to 11,268,226 (for the record: first half of 2023/first half of 2022 = +8.9%).
- However, the market is slowing down because at the end of April, we were still at +10.6% then 8.5% at the end of May. We could end the year at +3% or even +2.5%, at 26.7 or 26.8 million units.
- It was in April 2024 that BYD overtook the VW group for the first time, which had been the Chinese market leader for around thirty years. BYD occupies 13.4% of the Chinese market, while the German manufacturer only represents 10.6% of the market compared to 12% last year, 14% in 2021 and 19% in 2019. And the gap between BYD and VW has been growing steadily since April.
- Following adoption of European tariffs on 4 October, China could adopt retaliatory measures against Europe, which would weaken the VW's position in China.
- The GM group, former number 2 in the Chinese market, falls to sixth place in 2024, with 5.4% of the market compared to 7.0% last year, supplanted by Geely (9.0%), Chery (8.7 %) and Changan (6.9%). The Japanese Toyota, Honda and Nissan are also declining, their cumulative share falling from 15.2% to 11.9%, while Tesla, BMW and Mercedes are still holding out.
- Other Chinese manufacturers represent 20.3% of the Chinese market, a stable market share compared to last year, which demonstrates that these manufacturers do not benefit from the same dynamism as BYD, Geely, Chery or Changan.
- China now represents 36% of the global automobile market.
BEVs do not exceed 4% of the European car parc (vehicles in-use) in 2024
- 说明
BEVs do not exceed 4% of the European car parc (vehicles in-use) in 2024
- Inovev has estimated the share of BEVs in the car parc (vehicles in use) of the eight European countries which buy the most BEVs (in volume), i.e. Germany, the United Kingdom, France, Belgium, the Netherlands, Norway, Sweden and Denmark. These eight countries alone represent 80% of BEV sales in Europe in the first half of 2024.
- To make these estimates, Inovev calculated, from the sales of the last 15 years, the parc of BEVs and put it in perspective with the parc of cars whatever their motorization. Calculation was made for each of the eight countries here above.
- The results are surprising:
• While the average BEV sales in Europe have been around 14-16% since 2022 and Norway purchased 54% of BEVs in 2020, 65% in 2021, 79% in 2022, 82% in 2023 and 85% in 2024, the European fleet (30 countries = EU + United Kingdom + Switzerland + Norway) in July 2024 only includes 4% BEVs and 30% in Norway, the country which has the highest proportion of BEVs in circulation.
• Behind Norway, the three countries with the highest proportion of BEVs in their vehicle parc are Sweden (8%), the Netherlands (7%) and Denmark (6%). Germany and France are behind with a proportion of 4% of BEVs in their vehicle fleet (which is the European average), ahead of the United Kingdom (3%) and Belgium (3%). All other European countries have less than 3% BEV in their fleet.