Overview of the Korean market in 2015
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Overview of the Korean market in 2015
- The Korean car market increased by 11.4% in 2015, reaching a volume of 1.83 million vehicles (PC + LCV). This market has thus set a new record, the previous having been reached in 2002 (1.6 million vehicles).
- By manufacturer, the Hyundai-Kia group (66.9% of the market, + 6.3%) remains by far the market leader in Korea,far ahead of GM Korea group (8.0% market share, 14.4%). Followed by Mahindra Ssangyong (5.5% market share, + 44.4%), Renault-Nissan groups (4.9% market share, + 12.5%) and foreign imports (13.3% of the market, + 24.2%). The leader, Hyundai-Kia has been losing ground in terms of market share, since its growth is twice less than that of the Korean market as a whole. The Mahindra-Ssangyong Group increased its market share thanks to the success of its new compact SUV, the Tivoli. Its growth was four times that of the Korean market as a whole. Imports of foreign brands grew twice as much as the Korean market as a whole. The Renault-Nissan group has seen its market share stagnate but the manufacturer has much hope for the new Samsung SM6 (a rebadged Renault Talisman ) which should increase its market share in 2016.
- The ten best selling models in the Korean market in 2015 are:The Hyundai Sonata (108 438 units), Hyundai Elantra (100 422), Hyundai Porter (99 743), Hyundai Santa Fe (92 928), Kia Picanto (88 455), Hyundai Grandeur (87 182), Kia Sorento (77 768) Kia Carnival (67 559), Chevrolet Spark (58 978) and Kia group K5 (58 619). The Hyundai-Kia group ranks nine models in the top 10. Korea is one of the few major markets where a VUL (Hyundai Porter) that is not a pick-up, is among the top 10.
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Overview of the Argentine market in 2015
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Overview of the Argentine market in 2015
- The Argentine automobile market declined by 6.3% in 2015, reaching a volume of 0.63 million vehicles (PC + LCV).This market is suffering from poor economic conditions prevailing in South America, including Brazil which is the cornerstone of the economic situation.
- Like Brazil, Argentina (the second market in the region) has seen its sales shrink for the second consecutive year, losing 300 000 units in two years, i.e. a third of its volume in 2013 (2013 was the year that marked the sales peak in this country).
- By manufacturer, the Volkswagen group (17.8% market share, -0.5%) remains the leader of the Argentine market, in front of the Renault-Nissan group (14.0% market share, -1.9%). Followed by the Ford group (13.9% market share, -7.1%), PSA (13.3% of the market, -14.5%), GM (12.8% market share, -2.4%) FCA (12.6% market share, -11.3%) and Toyota (9.9% market share, -3.3%). All the manufacturers within the top seven largest are declining but it is PSA and FCA that have suffered the most. Among the smaller manufacturers present in Argentina, only Daimler and Hyundai-Kia managed to increase their sales but with a very low volume.
- The Top ten models sold in the Argentine market in 2015 include: Volkswagen Gol (29,157 units), Chevrolet Classic (27 120), Toyota Hilux (26,552), Fiat Palio (23,598), Ford Fiesta (23 419), Ford Ecosport (22 301), Ford Focus (20 096), Toyota Etios (19 859), Renault Clio (19 784), Volkswagen Amarok (18 288). The Ford Group thus ranks three models in the top 10, while Volkswagen and Toyota both rank two . Please note that among the 10 best-selling cars in Argentina in 2015, two are pickups (Toyota Hilux and Volkswagen Amarok). Only one SUV is among the top 10 (Ford Ecosport).
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Overview of the Indian market in 2015
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Overview of the Indian market in 2015
- The Indian car market increased by 7.8% in 2015, reaching a volume of 3.42 million vehicles (PC + LCV).
- This growth is the result of an improvement in consumer confidence, lower fuel prices and better interest rates, and the arrival on the market of attractive novelties, like the Renault Kwid and the Suzuki Baleno.
- Manufacturers, however, remain concerned about the continued weakness of demand in rural and semi-urban areas where the income of the population living in these areas declined sharply because of very poor harvests.
- By manufacturer, the Maruti Suzuki-group (37.7% market share, +11.9%) remains the leader in the Indian market, far ahead of the Hyundai-Kia group (13.9% market share, +15.7%). Followed by the Tata group (13.1% market share, +5.7%), Mahindra (11.2% of the market, + 5.0%), Honda (5.9% market share, +12.6%) Toyota (4.1% market share, + 5.3%), Renault-Nissan (2.8% of the market, + 8.0%), Ford (2.3% market share, +1.0%) VW (1.7% market share, -1.6%) and GM (1.1% of the market, -36.5%). The largest increases were to be credited to Hyundai-Kia, Honda and Suzuki.
- The ten best-selling models in the Indian market in 2015 are: The Suzuki Alto (272 096 units), Suzuki Dzire (236 038), Suzuki Swift (206 924), Suzuki Wagon R (170 399), Hyundai i20 (130 126), Hyundai Grand i10 (124 072), Mahindra Bolero (87 861), Suzuki Celerio (82 961), Honda City (82 922) and Suzuki Omni (78 927). Suzuki therefore ranks six models in the top 10. The Suzuki Baleno and RenualtKwid launched in Q4 2015 seduced 24 000 and 18 000 customers respectively. The Tata Nano stagnated at 23 000 units.
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BREXIT 4/4: Impact on production in Europe
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BREXIT 4/4: Impact on production in Europe
- If the introduction of customs barriers and taxes upon entry in the EU is possible, the reciprocal custom barriers and taxes are equally important. The internal market in Britain represented 3 million vehicles (PC + LCV) in 2015 of which 80% were imported from the EU.
- The UK market is indeed highly dependent on the European production but the introduction of taxes and custom barriers upon entry to Great Britain could bring in significant financial flows. Nevertheless, the market is mainly composed of mainstream brands, the cost of a vehicle imported into the country from the EU would see a price increase which in turn could affect the level of the UK market. Britain could then turn to similar vehicles produced in other regions outside of the EU (Asia, America, Turkey) and implement free trade agreements with specific countries.
- For the EU, these 2.4 million vehicles sold in Britain in 2014 represented 13% of total EU production. The first vehicle exporter to Great Britain is Germany followed by Spain and France.
- In 2015, the main exporting manufacturers of vehicles from the EU to Great Britain are the VW, Ford, PSA and GM groups.
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BREXIT 2/4: The different outcomes possible
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BREXIT 2/4: The different outcomes possible
- In a scenario of BREXIT, three hypotheses are possible:
1. The assumption of the status quo pending negotiations of free trade agreements or establishments of customs barriers.
2. The assumption, most likely, of a free trade agreement (FTA) or preferential treatment on the basis of existing ones with the EFTA countries, Switzerland, Turkey, Morocco and South Korea for example.
3. The hypothesis, the most extreme hypothesis and least likely one, of setting up trade barriers to EU entry but also to Great Britain entry, in case no agreement was found .
- In all three scenarios, Britain would lose its influence in Europe (including over standards) and would benefit a lot less of the free circulation of European human resources. However, these assumptions can be distinguished by the impact they could have on the levels of future production of the country.
- The status quo or the free trade agreement (assumptions No. 1 and No. 2) would change very little to the production level of the UK. Hypothesis No. 3, admittedly more extreme, however, is more interesting to study, for the establishment of customs barriers could both impact British production and also European production.
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