Market achievements - PC + LUV – China - 2016
- The Chinese automotive market of light vehicles (“PC+LUV”: Passenger Cars + Light Utility Vehicles) accelerated its growth in 2016 (+ 14.3% compared to 2015), due to tax rebates on new models sold in China of less than 1600cc displacement. The Chinese market thus exceeded 28 million units (against 24.5 million in 2015). Taking into again the reduction of these taxes in 2017, Inovev expects that the growth of the Chinese market in 2017 will be lower, of the order of 5%.
- Sales of quasi-all top-15 carmakers increased in 2016 (except those of PSA), but 100% Chinese manufacturers nit in Joint Ventures with foreign companies) experienced the strongest growth, due to their position on the market: vehicles with less than 1600cc, more SUV offer, more numerous products. They increased their sales by 29.8% last year, increasing consequently their market share from 30% to 33% for PCs and from 37% to 40% for LUVs (i.e. sales of 8 million PCs and 11 million PCs+ LUVs.
- The market share of foreign carmakers that produce in Joint Venture with Chinese companies have therefore decreased, but VW (4 million sales) and GM (3.8 million) remain by far the two leading groups . They account by themselves for 32% of the Chinese market. Next are Hyundai-Kia (1.8 million), Honda (1.2 million), Renault-Nissan (1.2 million) and Toyota (1.1 million). Three Chinese carmakers have succeeded for the first time to position themselves in the leading group: Changan (1.2 million), Great Wall (1 million) and Geely (0.9 million).
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