Product Trends in Korea

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Product Trends in Korea

 

- In Korea, the strong national currency and FTAs are increasing sales of imported automobiles. Meanwhile, carmakers in Korea are stepping up the launches of fuel-efficient models. The adoption of diesel engines which meet Euro 6, implemented in September 2015, is underway. In addition, there is rising demand for HEV models whose private purchase began to be subsidized in January 2015.

- Hyundai fully remodeled its core small sedan the Avante in September 2015 which combines a Euro 6-compliant 1.6L DE with a new seven-speed DCT. The Sonata and Tucson underwent full-model change in March 2014 and March 2015 respectively both fitted with 1.6L T-GDI engine and 1.7L DE, indicating an engine downsizing trend. Similarly, the fully-remodeled K5 and Sportage were released in July and September 2015 respectively both powered by 1.6L T-GDI and 1.7L DE. Looking at eco-friendly models, Hyundai and Kia each plan to release their first exclusively HEV model in 2016. Moreover, PHEV and BEV versions of the same model are also intended to be launched in the future.

- GM Korea launched the fully-remodeled Spark in July 2015 which is aimed to increase share in the light automobile market (below 1.0L class). The Volt’s PHEV vesion is scheduled to be released in 2016. Renault-Samsung plans to launch its first MPV model, the Espace in 2016. Meanwhile, Ssangyong added the diesel engine version of the Tivoli small SUV in July 2015.
 

16-01-4   

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In 2015, the Peugeot 308 was the most produced car in France

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In 2015, the Peugeot 308 was the most produced car in France

 

- Over the 12 months of 2015, 243,000 units of the Peugeot 308 came out of the Sochaux plant, where the production of this model for Europe is concentrated (the 308 is also produced in China and Argentina for the local market). The Toyota Yaris on its side was produced at 228,288 units, on the Onnaing plant. The Peugeot 308 therefore became in 2015 the most produced car in France, while the Toyota Yaris was the most produced car in 2012, 2013 and 2014.


- Since 2013, production of the new version of Peugeot 308 in France has experienced a natural increase. However this growth is lower than the one experienced by the previous version at its launch. The first 308 (launched in 2007) production tripled in one year while the start of the second generation was slower. Moreover, the new Peugeot 308 has not yet reached the production peak reached by the previous generation.


- Toyota Yaris production continuously grew in France between 2011 (new generation launched) and 2014 but began to slow in 2015 (+ 1.4% compared to 2014). The Japanese carmaker model is now arriving at the  end of its life (its replacement is planned for 2017). In Europe, it is also in strong competition with B-segment SUVs (Captur, 2008, Mokka, Juke ...).However, exports to the USA increased to meet the growing demand in 2015.


- In 2016, according to Inovev, production of the Peugeot 308 is expected to continue to grow despite the arrival on the European market of new competitors as the Renault Megane or Opel Astra. Toyota Yaris should feel a slowdown in exports to the United States, now supplied by the Toyota Yaris produced in Mexico.  The Top 5 of the most produced vehicle in France is complemented by the Peugeot 2008 (+ 14% compared to 2014), the Citroën C3 (-11.4%) and Renault Scénic (+ 4.6%).


16-01-1   

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Sales of electric passenger cars in China in 2015

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Sales of electric passenger cars in China in 2015

 

- Over the ten months of 2015, the production of electric passenger cars (BEV PHEV) reached 122 000units. In details: 75 747 electric cars and 46 784 plug-in hybrid cars.
 
- Thus production of electrically powered vehicles in China is strongly increasing (+216% compared to 2014), but stay at a fairly modest level, since the largest market globally will produce throughout 2015 a volume of less than 150 000 units produced from a total expected of 20 million vehicles of PC, across all powertrain types, which means less than 1% of China's passenger car production.

- In comparison, Europe will produce this year about 150 000 electric passenger cars from a total of 16,5 million passenger cars across all powertrain types, or nearly 1% of EU car production. Which means that for an equal volume of production, there are as many electric vehicles produced in Europe as there are in China. The United States are also situated at the same level of Europe and China, with a share of nearly 1% of the total production.

- It is to be noted that in China, the electric buses market is important as for the 10 months of 2015, more than 42,000 buses have been produced (31 379 electric and 11 087 plug-in hybrid), while the number of Commercial Vehicles (Light and Heavy Duty Trucks) is marginal (2655 electric).

15-23-9   

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India's Diesel Passenger Vehicle Market: Sales Are Shaken by Unstable Fuel Regulations

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India's Diesel Passenger Vehicle Market: Sales Are Shaken by Unstable Fuel Regulations

 

- India is a leading global diesel vehicle market. However, diesel vehicle share of the overall market significantly declined in the past 2-3 years largely due to revised fuel regulations. Therefore Diesel vehicle share in the passenger vehicle market sharply increased from 36% in 2010 to 58% in 2012. However, the price gap between gasoline and diesel fuel shrank, diesel vehicle share began to decline, dropping to 48% in 2014. Ultimately, India announced to end the price control of diesel fuel in October 2014. For this reason, fuel prices now depend on market conditions which also strongly affect demand in the automobile market. However, recently, the gap between gasoline and diesel fuel is widening again in the favor of diesel fuel, aiding the sales of diesel vehicles.

- Naturally, demand structure is also influenced by environmental regulations and preferential measures. A hybrid and electric vehicle promotional measure called FAME India (Faster Adoption and Manufacturing of Electric Vehicles) was introduced in March 2015. Moreover, within a few years, Euro 5 emission regulation is forecast to be introduced in large cities.

- Apart from the increasing number of negative factors which tarnish the image of diesel vehicles, new fuel measures make it difficult to see the future direction of demand. However, diesel vehicle share in the passenger vehicle market is expected to remain around 40-50 percent. It is also anticipated that fuel type will be increasingly taken into consideration depending on usage conditions. Emphasis is expected to gradually shift toward the selection of engines and fuels taking into various factors such as driving in congested cities, long-distance commuting and commercial use.

- Regarding carmakers, trend-setter Maruti Suzuki launched a newly-developed 0.8L diesel engine and combined a 1.3L diesel engine with a self-developed mild hybrid system in 2015, increasing the selection of diesel models in an effort to boost demand.
 

16-01-2   

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Several carmakers have withdrawn from the Russian market in 2015

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Several carmakers have withdrawn from the Russian market in 2015

 

- With an automotive market that is expected to reach 1.75 million units, the Russian market will lose one third of its volume in 2015 compared to 2014. However, for 2016, Inovev expects a market growth, thanks to different grants in various shapes and forms from the government.

- The consequence of this very bad economic situation, some carmakers decided to permanently leave the Russian market, which seems a brutal decision to be compared to the one taken in the last few years by some carmakers located in Iran. Indeed, it is brutal to abandon a market that still offers such a strong medium to long term potential.

- But it is true that the current situation of some carmakers in Russia is highly fragile. The graph below gives an overview of the decline in sales of major brands on the Russian market.

- In grey, the decline of the Russian market over the 10 months in 2015 across all brands and dark green brands that have already announced that they were withdrawing from the market (Seat, Honda, Opel, Chevrolet). Note that all brands are down overall but some have managed to limit the impact: Korean brands Hyundai and Kia, as well as the German premium brands Mercedes, BMW, Audi and Porsche, and finally Nissan is the only one to produce more and more models in Russia to meet import restrictions required by the Russian government.

15-23-10   

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