BEVs represent 24% of the Chinese market in 2023
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BEVs represent 24% of the Chinese market in 2023
- Sales of battery electric vehicles (BEV) continued to grow in China in 2023. From 5% of the Chinese market in 2020, they increased to 13% of the market in 2021, 21% in 2022 and 24% in 2023, which makes China the most electrified country in terms of new car sales. In Europe, the share of BEVs did not exceed 16% last year and in the United States, they barely reached 8%.
- It is interesting to note that a carmaker emerged exponentially during the rapid and significant development of BEV sales in China. This is BYD which has captured a quarter of the Chinese BEV market (1.55 million out of 6 million units), thanks to a range well suited to demand. With this completely exceptional rise in power, BYD is becoming the leading carmaker on the Chinese market ahead of the Volkswagen group and a formidable competitor for Tesla, due to a much wider range.
- Unlike the European market, sales of PHEV (plug-in hybrids) also continue to develop in China, representing 11% of the market in 2023 compared to 7% in 2022 and 3% in 2021. This sales increase is also mainly due to BYD which captured half of the Chinese PHEV market last year (i.e. 1.45 million out of 2.8 million units). Full hybrids remain stable at 3% of the Chinese market. These models are not appreciated by customers.
BEVs represent 16% of the European market in 2023
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BEVs represent 16% of the European market in 2023
- Sales of battery electric vehicles (BEV) continued to grow in Europe (29 countries) in 2023. From 6% of the European market in 2020, they increased to 11% of the market in 2021, 14% in 2022 and 16% in 2023. With a market share which only increases by 2% per year on average, we would reach a market share of 30% in 2030 and 40% in 2035.
- In 2023, BEV sales surpassed for the first time sales of diesel cars which did not exceed 12% market share and which continue to decline (see graphs). BEVs now represent twice the sales of plug-in hybrids (PHEV), which are declining. Full hybrids are no longer progressing and remain stable at 8% of the European market in 2023.
- Countries where BEVs represent more than the European average level in 2023 are Norway (82.4%), Sweden (38.7%), Denmark (36.3%), Finland (33.8% ), the Netherlands (30.8%), Luxembourg (22.5%), Switzerland (20.9%), Austria (19.9%), Belgium (19.6%), Ireland (18.6%), Germany (18.4%), Portugal (18.2%), France (16.8%) and the United Kingdom (16.5%). It is therefore the countries of the North, Center and West which buy the most BEVs.
- Conversely, the countries of the South and East are those which buy the least BEVs. In these countries, the market share of BEVs is less than 10% and the lowest rate (less than 4%) is recorded in Poland, Czechia, Slovakia and Croatia. The rates in the countries of the South are also very low: Italy is at 4.2%, Greece at 4.7% and Spain at 5.4%.
BMW and Mercedes each sold 2.5 million vehicles in 2023
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BMW and Mercedes each sold 2.5 million vehicles in 2023
- The BMW group (BMW, Mini, Rolls-Royce) sold 2,555,341 vehicles worldwide in 2023 (i.e. +6.5% compared to 2022). This volume is broken down into 2,253,835 BMW branded vehicles (+7.3%), 295,474 Mini vehicles (+0.9%) and 6,032 Rolls-Royce vehicles which broke its sales record. Sales of battery electric vehicles (BEV) reached 376,183 units last year. This volume represents 15% of the carmaker's total sales, which is counting on a proportion of 20% in 2024 and 25% in 2025. Today, the product range of BEVs is made of 15 different models.
- By geographic region, the BMW group sold 943,000 vehicles in Europe in 2023 (+7.5%), 825,000 in China (+4.2%) and 396,000 in the United States (+9.4%). BMW's growth remains lower than the global market in 2023 (+12.9%).
- The Mercedes group (Mercedes, Smart) for its part sold 2,491,600 vehicles worldwide in 2023 (i.e. +1.5% compared to 2022) including 2,043,800 passenger cars (+0%) and 447,800 light utility vehicles (+8%). Sales of battery electric vehicles (BEV) reached 240,600 units last year, or 10% of the carmaker's total sales, a proportion lower than the BMW group. However, the product range of BEVs from the Stuttgart carmaker is also made of 15 different models as for BMW group. Mercedes reports that the Maybach versions (competitors of Rolls-Royce) saw their sales increase by 19% last year. By geographic region, the Mercedes group sold 939,000 vehicles in Europe in 2023 (+7.3%), 771,000 in China (-2.0%) and 373,000 in the United States (+1.0%). Mercedes' growth remains well below the global market in 2023.
France is the European leader in the production of light utility vehicles
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France is the European leader in the production of light utility vehicles
- France has gradually become the European leader in the production of light utility vehicles in the three segments available on the market (N1-1: small utility vehicles, N1-2: medium utility vehicles, N1-3: large utility vehicles).
- First of all, it is to be noted that France is the European first market for light utility vehicles, but for a simple reason: carmakers offer on this market specifically modified sedans (and now also some SUVs) with reduced taxes (which we could qualify as fake utility vehicles) in a significant quantity, 59,000 units in 2023 compared to 51,000 in 2022 and 55,000 in 2021. These vehicles represent around 15% of LUVs sold in France each year.
- As for real utility vehicles (vans and pickup trucks), which represent 85% of LUVs sold in France, they also represent 35% of automobile production in France in 2023 and 25% of LUV production in Europe.
- While the production of passenger cars in France has been largely relocated over the past twenty years to other European countries, even to Turkey or Morocco, this is less true for light utility vehicles. Renault, for example, keeps the entire production of its Kangoo (N1-1), Trafic (N1-2) and Master (N1-3) in France, as well as their Nissan derivatives. For Stellantis, the observation is more nuanced: its medium utility vehicles (N1-2) Citroën Jumpy, Peugeot Expert, Fiat Scudo, Toyota ProAce are mainly produced in Hordain, in the North of France, as well as a small quantity of Opel Vivaro.
-By comparison, LUVs represent 9% of the German production, 10% for Poland, 11% for Italy, 16% for Turkey 16% and 17% for Spain.
Renault + Dacia in 2023 = Renault in 2005
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Renault + Dacia in 2023 = Renault in 2005
- It was in 1999 that Renault bought the Romanian company Dacia (created in 1966), to make it a subsidiary producing low price cars based on simpler design and more basic equipment, a formula which gradually evolved towards vehicles being closer and closer to the latest generation of Renault models. It was in 2005 that Renault management decided to market Dacia models throughout Europe. First it was the Dacia Logan, then appeared the Sandero hatchback derivative of the Logan, then the Duster SUV and the Lodgy minivan. If the Lodgy was not a hit on the European market, the Sandero and Duster enjoyed great success throughout Europe, with the Sandero becoming one of the three best-selling models in Europe in the early 2020s.
- In terms of market share, has the Dacia brand contributed a lot to the Renault, meaning, have Dacia's sales added to those of Renault or has Dacia cannibalise the Renault customer base? The analysis of the market share in France and Europe shows that the market share of the Renault + Dacia group remained stable between 2005 and 2023, and therefore that the Dacia brand has taken part of the Renault customer base. Renault's market share has fallen significantly in France and Europe while Dacia has increased significantly, with the two market shares tending to converge.
- However, this assessment must be qualified because the decline in Renault's market share in France and Europe can also be explained by the fall in sales of its C (Megane) and D (Laguna, Talisman) segment sedans, and by the sales drop of its C (Scenic) and D (Espace) segment MPVs, models that do not compete with Dacia.