The Geely group sold 2,097,608 light vehicles in 2020
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The Geely group sold 2,097,608 light vehicles in 2020
- The Chinese group Geely sold 2,097,608 light vehicles (passenger cars and light utility vehicles) in 2020, including 815,660 from the Geely brand, 661,713 from Volvo, 323,150 from Emgrand, 176,719 from Lynk& Co, 108,716 from Proton, 10 305 from Geometry and 1 345 from Lotus. The Chinese group's sales are stable compared to 2019 (+ 0.5%).
- The Geely group benefited from the low impact of Covid-19 on the Chinese car market (-1.8%) in 2020, that is to say, it avoided a drastic drop in sales unlike many non-Chinese carmakers. It remains the leading Chinese carmaker, ahead of Changan (1.31 million units), Great Wall (1.10 million), Dongfeng (1 million), SAIC MG-Roewe (860,000), BAIC (840,000), FAW (790,000), Chery (730,000) and BYD (430,000). Joint-ventures productions are not counted in these totals, as the leading Chinese carmaker producing foreign cars under license is SAIC, ahead of FAW and Dongfeng.
- The Geely group is therefore in thirteenth position worldwide in 2020, behind Suzuki, BMW and Daimler, which was already the case since 2017. The Chinese carmaker is now well diversified, as apart from China, which represents 72 % of its sales and 72% of its production, Geely has production plants in Europe (with Volvo and Lotus), Malaysia (Proton) and the United States (Volvo).
- It is to remind that Geely owns 49.9% of Proton, 51% of Lotus and 50% of Smart, plus a minority stake in Volvo Trucks. Geely also owns London Taxis International which produces the TX4 taxi.
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Global production of vehicles fell by 16,1% in 2020
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Global production of vehicles fell by 16,1% in 2020
- According to Inovev's calculations, global production of vehicles (passenger cars - PC and light, medium and heavy utility vehicles - UV) would have fallen by 16,1% in 2020, following the coronavirus crisis. Quantified volumes are not final because some countries have not yet communicated their figures, but the sample on which Inovev is working is sufficiently representative.
- The most critical period was spring 2020 (from mid-March to mid-June) when many plants closed between one to two months depending on the country and the carmakers. The level of production in the second half of 2020 returns to the level of 2019, but it should be remembered that the second half of 2019 was less good than the second half of 2018, 2017 and 2016. In addition, the production did not follow the market, as more vehicles were sold for several months than were produced, resulting in reduced stocks. In conclusion, the production decline has been stronger than the market decline, globally, and the year 2021 should be among other things the year of restocking.
- China having suffered less from the coronavirus crisis than most other countries, this country has consolidated its lead in 2020 in terms of volume produced. From 31% of world automobile production (PC+UV) in 2019, China rose to 36% in 2020. The other countries have reduced their influence: Europe has fallen from 19% of world production in 2019 to 15 % in 2020, the United States from 14% to 13%. Japan has managed to maintain its share of 11% of world production. South Korea has also managed to maintain its share, at 5% of world production, as Asian countries have been less affected by the crisis than other countries.
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Summary of premium car sales in the USA in 2020
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Summary of premium car sales in the USA in 2020
- In an American light vehicles market (passenger cars and light utility vehicles) down 14.7% in 2020 compared to 2019, Premium carmakers represented 14% of registrations against 13% in 2019. The overall volume of premium car sales nevertheless fell by 11.8% in 2020 compared to 2019, to 1,985,919 units compared to 2,251,580 the previous year.
- Most of the Premium brands have seen their sales decline in this market last year, except Tesla (+ 14.9%), Volvo (+ 1.8%) and Alfa-Romeo (+ 1.6%). Tesla is the brand that saw its sales increase the most, thanks to the Model 3 and Y. The largest drops were recorded by Infiniti (-32.5%), Jaguar (-42.1%) and Genesis (-22, 8%). For these three brands, the decline is very worrying, but it is perhaps even more for Genesis which is a young brand created in 2015 and whose future seems uncertain.
- The BMW brand is the leader of the premium market in the United States in 2020, as in 2019, with a market share of 14% in this category, ahead of the Japanese Lexus (a subsidiary of Toyota), with a share of 13.8% and Mercedes, with a share of 13.8% as well. Tesla is positioned behind these three brands (10.4%) and ahead of Audi (subsidiary of Volkswagen), with 9.4% market share in this category and Acura (subsidiary of Honda), with a share of 6.9% .
- Cadillac (a GM subsidiary) now occupies only 6.5% of this market, ahead of Volvo (5.5%), Lincoln (5.3%) and Infiniti (4%) which has fallen significantly, as we saw it, no doubt paying the discontinuation of its iconic FX model.
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World production of light vehicles by country in 2020
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World production of light vehicles by country in 2020
- Global production of light vehicles (passenger cars and light utility vehicles) fell by 16,1% in 2020, due to the coronavirus crisis that affected most countries, but with very different intensity from continent to continent.
- Asian countries suffered less than the others, notably China (-1.9% drop in production), Taiwan (-2.3%) and South Korea (-11.9%). Consequently, these three countries saw their share increase in the world production last year, and this is especially true for China, which saw its share increase from 28% in 2019 to 33% of world production in 2020. This country is largely the leader in world automobile production, ahead of the United States and Japan, whose shares remain stable at 12% and 10% respectively.
- The European Union as a whole achieves 18% of the world production in 2020, against 20% in 2019. Among European countries, the largest decreases are recorded by France (-38.5%) and Great Britain ( -29.5%). France has combined the coronavirus effect (closure of plants, lock-down) and the relocation outside France of models such as the Peugeot 208, Peugeot 2008 and Renault Clio. UK, on its side, has suffered not only from the coronavirus crisis but also from the wait for the latest Brexit negotiations. Several carmakers have thus voluntarily reduced their production so that stocks can be completely reduced at the end of the year. But Brexit negotiations were finalized at the end of 2020, so carmakers located in UK can now apply their strategies for the short term.
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South Korean market (PC + LUV) grew 5% in 2020
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South Korean market (PC + LUV) grew 5% in 2020
- The South Korean market for passenger cars (PCs) and light utility vehicles (LUVs) market grew by 5% in 2020, to 1,873,764 units compared to 1,784,000 in 2019, despite the coronavirus crisis, which is an excellent result as far as the world market fell by almost 14%.
- South Korea is one of the rare country (with Turkey) to see its market grow in 2020. This is undoubtedly a consequence of the good management of the health crisis last year, with few plant closures but an immediate closure of borders, to avoid contamination of people coming from abroad. Unlike Turkey, South Korea set a new registration record in 2020, with the previous record set in 2015 at a volume of 1,833,000 units.
- In this context, the Hyundai-Kia group remains largely dominant in the Korean market, with a market share of 72.3% in 2020 (a higher share than Toyota group in Japan, which is already extremely important). Far behind, the Renault-Nissan group, with a 5.1% share, overtook the Mahindra group represented by the Korean brand Ssangyong in great difficulty (this brand has just been put into bankruptcy) which falls to 4.7% of the market and whose sales fell by 18.5% in 2020 (it is the only Korean carmaker to post a decline in sales). The once flourishing GM Korea group (along with Daewoo) is falling to 3.7% of the market, which is the level of imported brands like Mercedes and BMW. Imports represent a total of 14.2%, constantly increasing (they represented 13.9% of the market in 2019). SUVs continue their breakthrough in the Korean market, with a market share of 39% in 2020 compared to 36% in 2019.
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