The European (29 countries) PC + LCV market increased by 3.3% in 2017
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The European (29 countries) PC + LCV market increased by 3.3% in 2017
- The European automotive market (29 countries) grew by 3.3% in 2017 with a volume of 17.67 million units (PC + LCV). This market is slowing from month to month, as growth was still at 3.6% in the first 9 months of 2017, and reached 7.4% in 2016 and up to 9.2% in 2015.
- The renewal of the overall fleet which started in 2014 seems to have reached a ceiling today, although the total number of registrations still remains 1 million units lower than in 2007, when it reached 18.67 million units.
- The other important factor behind the slowdown in the European market is the decline in the UK market, which is decreasing month over month and is one of the first direct consequences of Brexit.
- Over the12 months of 2017, the UK market fell by 5.4% while the German market rose by 2.8%, the French market by 5.1%, the Italian market by 6.9% and the Spanish market by 8.7%.
- Taking only passenger cars into account, the European market (29 countries) increased by 3.3%, which means that sales growth of light commercial vehicles was close to that of passenger cars (+4.0%).
- For 2018, Inovev expects an increase of 1.5% for a volume of 17.94 million units.
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The US PC + LCV market fell 1.7% in 2017
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The US PC + LCV market fell 1.7% in 2017
- The US car market fell by 1.7% in 2017 with a volume of 17.24 million units (VP + LCV), against 17.54 million in 2016. This is the first time since 2010 that this market has decreased, given that it had steadily increased from 10.43 million units to 17.54 million between 2009 and 2016.
- The US market being cyclical, Inovev believes that this market could continue on the same trend in 2018 as in 2017, to fall to about 17 million registrations.
- The main feature of the US market in 2017 was the sharp decline in sales of passenger cars (-11.2%) while those of light trucks (pick-ups, SUVs, minivans) continued to increase (+ 4.5% ), but without compensating for the decline in PC sales. The share of light trucks has thus increased from 61% in 2016 to 64% in 2017, while the share of PCs has at the same time gone from 39% to 36%. However, this classification is misleading because if we include SUVs and minivans in passenger cars, as in Europe and China, the share of PCs amounts to 81% (42% for SUVs and 3% for minivans). In fact, the US passenger car market corresponds to the European or Chinese sedan market.
- Four manufacturers make up 58% of the US market: GM (17.4%), Ford (14.9%), Toyota (14.1%) and FCA (12%). The Japanese hold 40% of the US market, the Germans 8% and the Koreans 7%.
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China's PC + LCV market grew 3.0% in 2017
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China's PC + LCV market grew 3.0% in 2017
- The Chinese car market (PC + LCV) increased by 3% in 2017, of which 1.4% for passenger cars, with a volume of 24.72 million units (against 24.38 million in 2016), which shows a slow down, as the growth of the Chinese market exceeded 14% the previous year. Inovev believes that the Chinese market will slow down further in 2018.
- It is the end of tax refunds on the majority of the cars marketed in China that put a damper on the increase of registrations in 2017, whereas the tax rebates had fully impacted and boosted the market in 2016.
- The share of Chinese manufacturers reached 36% of the market share of PC in 2017 and even 44% if we count commercial vehicles, thus getting closer to the objectives of the Chinese government. Foreign manufacturers still hold 64% of the PC market and 56% of the PC+ LCV market, even though their vehicles are produced under license by the Chinese manufacturers with whom they have created JVs which are over 50% owned by these same Chinese manufacturers.
- In 2017, seven manufacturers accounted for more than half of the Chinese market (58.6%): the Volkswagen group (16.3%), the GM group (15.8%), Renault-Nissan (6%), Honda ( 5.8%), Geely (5.6%), Toyota (4.6%) and Changan (4.5%). Among these seven manufacturers are two independent Chinese manufacturers (Geely and Changan), two Europeans (Volkswagen and Renault-Nissan), two Japanese (Honda and Toyota) and one American (GM).
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Renault and PSA together sold more than 600,000 cars in Iran in 2017
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Renault and PSA together sold more than 600,000 cars in Iran in 2017
- Renault and PSA sold more than 600,000 cars in Iran in 2017 (443,000 for PSA and 162,000 for Renault). The two French manufacturers occupy 40% of the Iranian market (29% for PSA and 11% for Renault) which exceeded 1,510,000 units last year. The fears of those who anticipated an unfavourable reaction of Iranians vis-à-vis the French manufacturers, following their hasty departure in 2012, have not been substantiated.
- In an uncertain political and economic context, PSA moved closer to its record of 2010 (461,000 sales) while Renault achieved the highest sales volume in its history.
- The models that PSA and Renault sell and manufacture on site, in partnership with the manufacturer Iran Khodro, are the Peugeot 206, Peugeot 405, Renault Logan and Renault Sandero. These are actually old models, since the Peugeot 206 dates from 1998 and the 405 from 1987. As for the Logan, it dates from 2004 and the Sandero from 2007.
- But new models are planned for 2018. PSA has just started the local production of the Peugeot 2008 and the 301 is scheduled for the beginning of the summer. Finally, the 208 should be added to the range as of the end of the year. Three Citroën models are also planned (probably the C3, C3 Aircross and C4 Cactus). Renault has announced the start of production of Logan II and Duster, but no date has yet been announced.
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Global automotive production rose 2.3% in 2017
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Global automotive production rose 2.3% in 2017
- Global car production (PC + LCV) increased by 2.3% in 2017 compared to 2016, with an estimated volume of 97 million vehicles (compared to 94.77 million units in 2016).
- This growth is two times lower than in 2016 compared to 2015 (+ 4.5%), as the top three car markets, China (+ 3%), the United States (-2%) and Europe (+ 3%) slowed in 2017, which had a direct influence on overall production. The top 20 producing countries maintain their 2016 ranking, except for Brazil and Russia, which each moved up one step in the ranking, thanks to their strong domestic market. On the other hand, Iran and Canada moved down a step due to the stop of production of certain models.
- In 2017, China (+ 2.9%) increased its lead over the other producing countries, in terms of volume, since it exceeds 29 million units, while the second largest producer, the USA (-7, 7%), does not exceed 12 million units. All the countries of the European Union (+ 0.7%) came close to 19 million units. One should note that the fall in the UK market last year impacted German (-0.5%), Spanish (-4.1%) and British (-1.7%) production.
- Among the top 20 producing countries, the strongest growth was registered in Brazil (+ 30%) and Russia (+ 20%).
- For 2018, Inovev expects a growth of 2% in global automotive production.
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