Inovev forecasts 40,000 new Chevrolet Corvettes per year
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Inovev forecasts 40,000 new Chevrolet Corvettes per year
- Chevrolet (a division of the General-Motors group) has presented the new generation of the Corvette. This is the ninth generation of a sporty model with origins dating back to 1953.
- The ninth generation completely shatters the Corvette's former spirit, as it switches from a front engine to a middle-rear engine, such as that of the Honda NSX, Lamborghini, McLaren, or some of the Ferrari models.
- As a result, the model's silhouette changes completely, from a long hood with the cabin pushed back to a short hood with the cabin pushed forward.
- It remains to be seen whether potential customers will embrace this new architecture and new silhouette. GM took the risk of changing everything because the last generation of Corvette’s sales dropped from 46,000 units in 2014 to only 18,000 in 2018. The previous concept may have been completely worn out.
- However, the new Corvette still has its atmospheric 6.2 V8 engine, this time developing 495 hp. It is placed just behind the passenger compartment, for optimal weight distribution and better stability on the road.
- The manufacturer announces a competitive price for this ninth generation Corvette, nearly $60,000 ($4,000 more than its predecessor but $30,000 less than a Porsche 911). This model will continue to be produced at the Bowling Green, Kentucky site. Inovev expects 40,000 annual sales for the new Chevrolet Corvette.
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Read more... Inovev forecasts 40,000 new Chevrolet Corvettes per year
The Indian market is down 8.8% in the first half of 2019
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The Indian market is down 8.8% in the first half of 2019
- The Indian automotive market is one of the most promising in terms of sales, since India's motorization rate is still very low compared to the population, one of the densest in the world. From 3.2 million units in 2014, the Indian market had grown to 4.4 million in 2018. Unfortunately, the Indian market turned down in November 2018 and the decline worsened in April 2019. In the first half of 2019, the Indian market fell by 8.8%.
- At this rate, the Indian market could fall to 4 million units (VP+VU) in 2019. This decline is in a context of general decline in registrations worldwide (-7.1% in the first half of 2019), but the Indian market has declined more than the world market over the period.
- Among the most affected automakers is the leading Suzuki, which lost 100,000 sales in the first six months of 2019, from 900,000 to 800,000 units over this period. Its market share remains very high, but falls from 40% in 2018 to 39% in 2019. Its competitors Tata Motors (15%) and Hyundai-Kia (12%) maintain their market share. Mahindra gains almost one point of market share (12%). The other manufacturers are far behind and remain stable.
- It should be noted that India is one of the major markets that buys the least SUVs, since these models are at only 19% of the Indian market, half as much as the percentage observed in the other major markets. The sedan, and even the small sedan (segments A and B), accounts for 75% of registrations, which is atypical in the global market.
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Read more... The Indian market is down 8.8% in the first half of 2019
The Argentine market is down 50.4% in the first half of 2019
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The Argentine market is down 50.4% in the first half of 2019
- Argentina is gradually sinking into a serious and lasting economic crisis, dragging all automotive-related industries into its wake. This crisis is linked to an over-indebtedness of both the State and individual households.
- The Argentinean automobile market (PC+LCV) collapsed by 50.4% in the first half of 2019, compared to the first half of 2018, to 235,834 units (compared to 475,884 the previous year). This unfavorable trend in the Argentine market is reminiscent of the crisis of the early 2000s, which was exceptional in its scale. The Argentine market had then gone from 300,000 units per year to 100,000 per year in two years. Gradually, the Argentine market had gradually recovered to reach nearly one million units in 2013, but since then, it has been losing ground. Nonetheless, it was close to 775,000 units in 2018.
- Which manufacturers lost the most sales in the first half of 2019?
- The most affected are GM (-60.0%), PSA (-58.1%), Ford (-52.7%), Volkswagen (-52.5%) and Renault-Nissan (-47.0%).
- However, the Renault-Nissan group remains the leader in Argentina, ahead of Volkswagen, Toyota, Ford, FCA, GM and PSA.
- The other OEMS are far behind these seven manufacturers (which account for 93% of registrations). There are several Chinese manufacturers (Chery, Lifan, Geely, Dongfeng, Great Wall) who are trying to enter this market, but the volume of all Chinese does not exceed 1% of the market. It is also interesting to note that SUVs have not yet made inroads in Argentina, since their market share does not exceed 19% while pick-ups reach 13%. Sedans are still the majority (61%).
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Read more... The Argentine market is down 50.4% in the first half of 2019
The Russian market is down by 2.4% in the first half of 2019
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The Russian market is down by 2.4% in the first half of 2019
- The Russian automotive market had grown until 2018, when it grew by 12.8% to 1.8 million units (passenger cars + LCVs). It started to decline in February 2019, so that over the first half of 2019 as a whole, it fell by 2.4%. The main reason for this trend is lower demand, influenced by macroeconomic factors such as an increase in the cost of living following the VAT increase from 18% to 20% on 1st of January 2019. This downturn in the automotive market is also the result of a substantial reduction in government subsidies which had stimulated retail sales.
- In this context, the leader Renault-Nissan (-2.2%, to 302,000 sales) and Chinese automakers (-24.7%, to 28,000 units) are the most affected by the decline in the Russian market, without however any overall change in market rankings. The drop in Ford's sales (-18.1%) is understandable because the American manufacturer has announced its withdrawal from the Russian market, as has its compatriot GM.
- The brand that remains number one in the Russian market, Lada, whose manufacturer Avtovaz is owned by the Renault-Nissan group, continues to grow slightly over the year (+2.5%), while Renault brand sales fell by 13%.
- The Korean group Hyundai-Kia is in second place in the Russian market (+0.9% to 201,000 sales). The German group Volkswagen, which is in third place, grew more significantly (+5.6% to 103,000 sales). These three manufacturers account for 73% of the Russian market. SUVs now occupy 40% of the constantly growing Russian market, while sedans now occupy only 53% of this market.
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Read more... The Russian market is down by 2.4% in the first half of 2019
The Brazilian market is up 12.1% over the first half of 2019
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The Brazilian market is up 12.1% over the first half of 2019
- Unlike Argentina, Brazil continues to grow in the automotive market, which translates into a 12.1% increase in registrations (PC+LCV) over the first half of 2019, to 1.3 million units, whereas this market had already grown by 14.6% in 2018 compared to 2017, and by 9.5% in 2017 compared to 2016.
- Brazil is the only major car-producing country to make progress in 2019, as the other major countries registrations are falling. The reason for Brazil's good performance is that it is catching up, after reaching a record 3.8 million sales in 2012, which preceded a drop in sales between 2013 and 2016 ( in which year a volume of 2.5 million sales was recorded).
- The question is whether Brazil will continue to catch up and make further progress until the end of the year, or whether it will suffer the negative consequences of weak global economic growth, like the other world markets.
- Most automakers sales increased in the first half of 2019. The strongest increases were recorded by the Chinese OEMs Geely (+41.7%) and Chery (+284.1%) but all the Chinese manufacturers together do not exceed 1% of the Brazilian market. The top four manufacturers are maintaining their position. FCA (+18.7%) still leads over GM (+16.6%), Volkswagen (+14.9%) and Renault-Nissan (+11.6%). These four manufacturers account for 63% of Brazil's registrations.
- SUVs make up only 20% of the Brazilian market, while sedans are still at 61%.
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Read more... The Brazilian market is up 12.1% over the first half of 2019
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