Chinese carmakers represent 72% of the Chinese BEV market in 2023
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Chinese carmakers represent 72% of the Chinese BEV market in 2023
- Over the cumulative first eight months of 2023, the Chinese passenger car market represented 15,640,859 units, compared to 14,647,334 units over the same period of 2022, meaning an of 6.8% of sales.
- Of this volume recorded over the period, the market share of Chinese carmakers excluding JVs (8,651,546 units) slightly exceeded 55%. It is to be noted that by including utility vehicles, this market share is even higher, as it reaches 62%.
- If we focus on the Chinese passenger car market only, the number of battery electric vehicles (BEV) reached 3,606,680 units over the first eight months of 2023, which represents 23% of the Chinese market, including 72% for the Chinese carmakers excluding J.V. (2,603,831 units). For the plug-in hybrid vehicles (PHEV) market, the volume reached 1,513,333 units, which represents 10% of the Chinese market including 95% of market share for Chinese carmakers excluding J.V. (1,443,578 units).
- If we add BEVs and PHEVs, 5,120,013 plug-in passenger cars were sold in China during the first eight months of 2023, representing 33% of the Chinese market, including a market share of 79% for the Chinese carmakers excluding JVs (4 047,409 units).
- The market share of BEVs, PHEVs, and the market share of Chinese carmakers, including within BEVs and PHEVs markets, are constantly increasing from month to month. Given that Tesla accounts for 17% of BEV sales in China in 2023, the share of Europeans, Japanese, Koreans and Americans others than Tesla only accounts for 11% in total, which is extremely low.
Will European carmakers still be in China in 2030?
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Will European carmakers still be in China in 2030?
- Given that the market share of foreign carmakers is decreasing from year to year in China (45% in 2023 compared to 49% in 2022, 55% in 2021, 60% in 2020, 61% in 2019), we can wonder about the future of European carmakers in China by 2030.
- First, we must identify the share of European carmakers among foreign carmakers. It is 40% in 2023, which represents 19% of the entire Chinese market compared to 25% in 2019. This is the largest share among foreign carmakers as Japanese carmakers are at 15% of the Chinese market in 2023 (compared to 22% in 2019), Americans at 9% (compared to 9% in 2019 – stable thanks to the progress of Tesla) and Koreans at 2% (compared to 5% in 2019).
- European carmakers are therefore still the most represented among foreign carmakers in China. And among the European carmakers present in China, almost all are German, which benefit from a Premium brand image in this market.
- According to Inovev, non-German European carmakers and Korean carmakers are the most exposed, as their very small market share continues to shrink. At the same time, German and Japanese carmakers, as well as Americans other than Tesla, will continue to decline. But it is likely that there will still be foreign carmakers in China in 2030, particularly German ones. However, European carmakers who only represent 8% of BEV sales in 2023 (compared to 17% for Tesla) must make a big effort to increase this market share, because the evolution of the Chinese market will necessarily involve a increasingly proportion of BEVs (23% in 2023 and soon 30% then 40%).
- For comparison, on the European market, non-European carmakers represents 33% of the sales when by opposition non-American carmakers have 67% of the US market. China could therefore get closer to the European scenario before 2030.
Inovev forecasts 150,000 units per year of the new Mitsubishi L200 pickup
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Inovev forecasts 150,000 units per year of the new Mitsubishi L200 pickup
- The Japanese carmaker Mitsubishi (a subsidiary of the Nissan group) has just presented the sixth generation of its L200 pick-up (named Triton in certain markets) which remains one of the best selling model of the brand, as around 150,000 units are sold per year, or between 15% and 20% of its total sales depending on the year.
- Like most medium-tonnage pick-ups, the Mitsubishi L200 will be produced as previously in Thailand, a country which is the main producing center for this type of vehicle: the Toyota Hilux, Ford Ranger, Nissan Navara, Isuzu D Max are also produced in this country. Each year, Thailand produces more than a million medium-tonnage pickup trucks exported worldwide, compared to the United States which produces two million large-tonnage pickup trucks (such as the Ford F Series, Chevrolet Silverado, Ram pickup, GMC Sierra) to which are added 500,000 medium-tonnage pickups.
- The new Mitsubishi pick-up dimensions grows compared to its predecessor: + 5 centimeters in length (5.36 m), + 11 centimeters in width (1.93 m), + 4 centimeters in height (1.82 m).
- The new Mitsubishi L200 is powered by a new 2.4-liter four-cylinder diesel engine with a turbocharger. This engine will be available in three different powers: 150 hp, 184 hp and 204 hp. No battery electric version on the program nor a plug-in hybrid version. The L200 will be marketed in a rear-wheel drive version (rear-wheel drive) and an all-wheel drive version (four-wheel drive). Inovev forecasts 150,000 units per year of the new Mitsubishi L200.
Renault and Nissan confirm the end of the Renault-Nissan group
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Renault and Nissan confirm the end of the Renault-Nissan group
- As planned at the beginning of this year, the Renault-Nissan group sees its existence officially cease, with the sale of 30% of the 45% of Nissan's shares held by Renault, with the end of their common purchasing structure and with the desire to stick only to one-off agreements on model, engine or plant share.
- Today, the rebalancing of the Renault and Nissan cross-shareholdings, up to 15% each, means that neither one carmaker has the possibility of controlling the other in the current circumstances. As a result, we can no longer speak of a group, but of two separated groups which can agree on a technical cooperation concerning one-off projects, such as Renault has with Mercedes (with the Kangoo-Citan ) or with Geely (in South Korea).
- The Renault-Nissan group therefore ended up experiencing the same fate as the former DaimlerChrysler or BMW-Rover groups which disappeared at the beginning of the 2000s. We are therefore now dealing with two distinct groups: the Renault group which is made up of the Renault brands, Dacia and Alpine, and the Nissan group which consists of the Nissan, Infiniti and Mitsubishi brands.
- Contrary to what had been defined over the previous twenty years, notably due to a position as CEO of Renault and Nissan occupied by the same man who was supposed to define strategies for the common interest and thus pool purchases, mutualise vehicle ranges, factories, technologies, each company will now build its own plan and then see opportunities for collaboration. The Renault and Nissan groups have, however, announced that the current agreements on LCVs and BEVs will not be questioned.
The VW ID3 will be completely transferred to Wolfsburg in 2024
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The VW ID3 will be completely transferred to Wolfsburg in 2024
- The Volkswagen brand has announced that in 2024 it will transfer the entire production of the battery electric ID3 from Zwickau and Dresden to Wolfsburg, whose production volume has fallen significantly since 2020, following the poor sales of the last generation of Golf (which is produced on this plant) and also the transfer of part of the customer base towards battery electric cars of the same segment such as the Volkswagen ID3.
- Less than 200,000 Golfs were produced in Wolfsburg in 2022, the lowest volume since the 1970s. At the same time, 170,000 ID3-ID4-ID5s were produced in Zwickau and Dresden in 2022, compared to 153,000 units in 2021.
- Remember that the Zwickau plant had been calibrated for a volume of 250,000 electric vehicles per year and the Dresden plant for a volume of 25,000 electric vehicles. However, the Cupra Born and Audi Q4 E-Tron were added to the ID3-ID4-ID5 at the Zwickau plant, these two models having been produced at 95,000 units there in 2022. 265,000 were therefore produced electric vehicles at the Zwickau and Dresden sites in 2022 and probably 275,000 units in 2023, thus approaching the maximum capacities of the two plants. However, the Dresden plant will close in 2024.
- With sales forecasts confirming further growth in sales of ID3-ID4-ID5 electric cars in 2024 and 2025, it became necessary to plan the transfer of one or more models from Zwickau to Wolfsburg where capacities are no longer used as much as previously.
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