The Chinese market fell 14% in the first half of 2019
- The Chinese passenger car market (which is 82% of total Chinese registrations), fell by 14% in the first six months of 2019, compared to the first six months of 2018. The volume of passenger car registrations fell to 10.12 million units from 11.78 million the previous year, a loss of 1.66 million units over six months. At this rate, the Chinese market could lose more than 3 million units over the year as a whole, but it seems that a slight recovery will start in the second half of 2019 which could lead to a much lower loss in terms of vehicle numbers.
- However, this 14% drop in the PC market follows year 2018, with an already 4% drop in the PC market, the first drop in the Chinese market in more than 20 years.
- Among the most affected automakers are the American OEMs GM (-23.6%) and Ford (-57.9%), perhaps a consequence of the trade war that is taking place between China and the United States. Chinese manufacturers BAIC (-32.3%), Dongfeng (-31.6%), GAC (-30.3%), Changan (-22.7%) also posted significantly lower results. Even Geely, which had made great progress in recent years, is down by 12.3%. The PSA group (-59.5%) is no longer even in the Top 20. Only Honda (+14.8%), Toyota (+12.4%), Mercedes (+11.7%) and BMW (+25.9%) made progress. It should be noted that SUVs now represent 42% of PC sales in China.
- The LCV market held up better, with a decline of 3.9% over the first six months of 2019, and a volume of 2.19 million units compared with 2.28 million the previous year.
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