Vinfast sold 97,399 BEVs worldwide in 2024
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Vinfast sold 97,399 BEVs worldwide in 2024
- Vietnamese automaker Vinfast delivered 97,399 all-electric vehicles (BEVs) worldwide in 2024, compared to 34,855 in 2023, representing a 179% increase. The majority of its sales occurred in the fourth quarter of 2024, reaching 53,139 units during this three-month period, representing an annual rate of 200,000 units. The carmaker also announced that its target of selling 80,000 electric vehicles in 2024 was largely exceeded, and also that it had set new targets for 2025, corresponding to 200,000 units.
- Let us recall that in 2023, Vinfast had indicated that it wanted to sell 1 million electric cars by 2030. To achieve this objective, the Vietnamese carmaker plans to develop its sales in Vietnam (10,000 sales recorded in January 2025, which is equivalent to an annual rate of 120,000 units), but also in the USA (600 sales in January 2025), in Europe (30 sales in January 2025, most of which in Germany), in India (project to build a plant producing 150,000 vehicles per year) and in Indonesia (project to build a plant producing 50,000 vehicles per year).
- Vinfast 's goal is to increase its plants' production capacity from 300,000 vehicles per year in 2024 (in Vietnam) to 500,000 in 2026 (after building factories in India and Indonesia), then 750,000 in 2028 and 1,000,000 in 2029 (after building new factories in other countries).
- It should be added that Vinfast delivered 70,977 electric scooters and bicycles worldwide in 2024, representing a 1% increase compared to the previous year.
Thermal vehicles (PC) in Europe, China, USA and Japan in 2024: continuing decline of thermal vehicles
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Thermal vehicles (PC) in Europe, China, USA and Japan in 2024: continuing decline of thermal vehicles
Alongside the growth in sales of fully electric vehicles (BEV), plug-in hybrid vehicles (PHEV) and non-plug-in hybrid vehicles (Full-HEV) in all regions of the world, there has been a continuing and significant decline in sales of thermal vehicles (petrol, diesel and MHEV) in most of these regions.
1. The drop in sales of thermal cars (including MHEVs) was the sharpest in China , with these falling from 95% of the market in 2018 to 50% in December 2024. In volume, this represents a drop of 5 million units during this period, with the market for thermal cars falling from 20 million to 15 million, while during this same period, the Chinese market for passenger cars grew from 23.7 million to 27.5 million.
2. The fall in sales of thermal cars (including MHEVs) was also relatively sharp in Europe , with these falling from 95% of the market in 2018 to 60% in December 2024. In volume, this represents a fall of 4.7 million units during this period, with the thermal car market falling from 13.5 million to 8.8 million, while during this same period, the European passenger car market fell from 14.3 million to 12.9 million.
3. The drop in sales of thermal cars (including MHEVs) was much less severe in the USA (due to lifestyles leading to a preference for gasoline engines), these falling from 95% of the market in 2018 to 80% in December 2024. In volume, this represents a drop of 2.6 million units during this period, the market for thermal cars falling from 15.5 million to 12.9 million.
4. Japan is the country where the drop in sales of thermal cars (including MHEVs) was the smallest (due to a strong historical presence of hybrid engines and Key-cars), these falling from 75% of the market in 2018 to 65% in December 2024. In volume, this represents a drop of 0.8 million units during this period, the market for thermal cars falling from 3.2 million to 2.4 million.
The European light utility vehicle market grew by 6.9% in 2024
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The European light utility vehicle market grew by 6.9% in 2024
- The European market (30 countries: EU + United Kingdom + Switzerland + Norway) for light utility vehicles (LUV) increased by 6.9% in 2024, to 2,002,023 units compared to 1,872,519 in 2023. This is the best result in four years, but we are still far from the figures achieved in 2018 or 2019, and even more so from the figures achieved in 2007 – just before the financial crisis – the year which still holds the record for LUV sales in Europe (2,299,000 sales).
- The countries that traditionally have the highest demand for this type of vehicle remain France (379,747 units; +1.1%), the United Kingdom (354,265 units; +2.7%), Germany (281,078 units; +8.4%), Italy (198,517 units; +0.9%) and Spain (166,157 units; +13.7%).
- In terms of engines, diesel remains largely dominant, since 85% of LUVs are equipped with this type of engine (1,702,230 units; +8.8%) in 2024. Plug-in electric vehicles (BEV and PHEV) only represent 130,523 units in 2024, a decrease of 7.7% compared to 2023, mainly attributable to Germany (-27.9%), Italy (-40.9%) and Spain (-27.9%). These plug-in electric engines represented 6.5% of the LUV market in 2024 in Europe. The road to achieving a fully electric LUV market in 2035 will be long. Gasoline engines represented only 5.2% of LUV sales in 2024 in Europe, or 104,871 units and full-hybrid engines only 2.0% with 40,533 units.
- The leading LUV carmaker in Europe in 2024 remains Stellantis, ahead of Ford and Renault.
Kei Cars will represent 38% of the Japanese market in 2024 compared to 40% in 2023
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Kei Cars will represent 38% of the Japanese market in 2024 compared to 40% in 2023
- Kei-cars are small, lightweight cars (Keijidosha means "light cars") marketed in Japan, with dimensions and engine capacities imposed by Japanese regulations. Today, they must not exceed 3.40 m in length, 1.48 m in width and 2.00 m in height and the engine capacity of their internal combustion engine must not exceed 670 cm3. These cars are slightly shorter than European A-segment cars and slightly longer than Chinese A-segment cars. These cars, which are distinguished by their yellow license plates, benefit from advantages in terms of taxes and insurance.
- This category of cars has occupied nearly 40% of the Japanese market for the past ten years, after having occupied between 30% and 35% the previous ten years. It is mainly represented by the Daihatsu (Toyota group) and Suzuki brands. But in 2024, the scandal of falsified tests at Daihatsu disrupted the Kei-car market, since the sales of this carmaker collapsed during the first half of the year, part of the customer of this brand having turned to Suzuki (+ 60,000 sales), another part of the customer of this brand having postponed its purchase.
- As a result, the Japanese Kei-car market has declined by 167,000 units in 2024 (but is expected to recover in 2025, thanks to the postponement of purchases by Daihatsu customers), which reduces the market share of these vehicles from 40% in 2023 to 38% in 2024 , the lowest market share observed since 2017.
- The Nissan Sakura, which launched the all-electric Kei-car market in 2022, failed to developped on the market, dropping from 37,140 sales in 2023 to 22,926 in 2024.
Renault has unveiled its utility vehicle (LUV) models developed by Flexis
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Renault has unveiled its utility vehicle (LUV) models developed by Flexis
- Renault has unveiled its battery electric light utility models developed by Flexis, a joint venture between Renault, Volvo Trucks and the logistics company CMA CGM, a concept reminding the American Bright Drop produced by the GM group.
- These three models will be marketed under the Renault and Volvo Trucks brands. At Renault, they will use the brand's previous names: Estafette, Goélette, and Trafic. These completely new models in terms of design will be produced from summer 2026 at Renault's Sandouville site, where the current Renault Trafic and their derivatives, the Nissan Primastar and Mitsubishi Express, are already produced.
- These three models (the “Trafic” van, the “Goélette” chassis cab based on the Trafic van and the “Estafette” Step -In van) will be based on the brand new “skateboard” platform dedicated to electric vehicles, with a 800V architecture, and developped on a SDV (Software Defined Vehicle) concept.
- All models benefit from a low, flat and low loading floor and a battery pack that allows up to 450 km of autonomy.
- The carmaker expects total demand of around 15,000 units over three years (2026-2027-2028), or 5,000 units per year on average until December 31, 2028. However, demand should gradually increase according to Inovev to reach 7,000 units in 2029, 8,000 units in 2030 and so on.
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