The US automobile market grew by 3.0% in the first half of 2024
- Details
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.
The Chinese automobile market grew by 6.3% in the first half of 2024
- Details
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.
- 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
- Details
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.
Dongfeng will build an assembly plant in Italy
- Details
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: Ministero delle Impresse 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.
Mercedes will replace its EQC SUV with two different models
- Details
Mercedes will replace its EQC SUV with two different models
- At the end of last year, Mercedes stopped manufacturing its 100% electric D-segment SUV, the EQC, which was the first model in the EQ range dedicated to electric vehicles from the Stuttgart manufacturer. The other models equipped with this type of engine continue their commercial career, such as the EQA, EQB, EQE, EQS, EQT and EQV.
- But the EQC will soon have descendants under two different bodies (like the EQE and EQS) since a new SUV will be launched in 2025 and a sedan in 2026. They will compete with the 100% electric sedans of D segment such as the BMW i4 and future Audi A4 E-Tron, as well as the Tesla Model 3 and BYD Seal.
- BMW plans to launch a second generation of the i3 in 2026 which will this time be derived from the 3 Series and which will compete – like the BMW i4 – with the future Mercedes EQC sedan. In 2026, Mercedes and BMW will each have a complete and well-developed range of 100% electric vehicles, with BMW offering the i3, i4, i5, i7 sedans and the iX, iX1, iX2, iX3 SUVs.
- Audi, for its part, only includes a sedan (A6 E-Tron) and three SUVs (Q4 E-Tron, Q6 E-Tron, Q8 E-Tron) in its range, but it plans to develop its range between 2024 and 2030.
- While the future compact electric Mercedes (CLA, GLA, GLB) will use the MMA platform presented on the “CLA Concept”, the EQC will have a new MB.EA base dedicated to medium and larger BEVs. Modular in propulsion or all-wheel drive, with one electric unit per axle, this engine will allow powers ranging from 250 hp to 500 hp. The EQC will be entitled to the new engine called eATS 2.0 and coupled to a 100 kWh NCM battery.
Inovev platforms >