Global car market growth continues unabated
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Global car market growth continues unabated
- Since the global market rebounded in 2010, following the economic and financial crisis in 2008-2009, the global market has grown steadily for over eight years.
- It went from 61 million units (PC+LCV ) in 2009 to 81 million in 2012 and 91 million in 2016. Last year, it stood at 93 million units and according to Inovev figures for the first eight months of 2018, it could increase by almost 3% this year, which would augur a market greater than 95 million units. Growth is however slowing, as sales grew 20 million units in three years, between 2009 and 2012, and only 10 million units in four years, between 2012 and 2016, and will not increase by 10 million more units before 2021.
- On the graph below, we can observe this slight slowdown in the growth of global sales between 2010 and 2018. We also observe a seasonality of sales which is relatively well respected from year to year, with a peak of sales in March of each year and a sales dip in August of each year.
- Global growth is driven mainly by China, as it accounts for 50% of the growth between 2010 and 2018, and now accounts for one third of global sales (25% in 2010). The US accounts for 25% of global growth over the period. These two countries account for 75% of global growth.
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Vinfast exhibited its two models at the Paris Motorshow
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Vinfast exhibited its two models at the Paris Motorshow
- The only Vietnamese car manufacturer Vinfast, created in 2018, exhibited its two models at the Paris Motorshow for the first time. This OEM based in Hanoi, belongs to the construction and real estate group Vin Group led by its founder. To give birth to its automotive branch, Vin Group has hired former leaders of the automotive sector, including from GM USA. Vin Group has partnered with Magna-Steyr for engineering and with Pininfarina for model design. It uses old platforms and engines of the BMW brand. Thus, the two models on display, the SUV LUX SA 2.0 and the sedan LUX A 2.0 are derived from BMW X5 and Series 5 of the previous generation. These models, with the same 4-cylinder petrol 2.0 turbo engine (developing 176hp for the sedan and 231hp for the SUV), will first be reserved for the Vietnamese market from September 2019, then will be for sale in other markets.
- The Vinfast models are sufficiently different from the BMW models so that we can not confuse them, which is why it is not impossible that these vehicles be sold in markets where the BMW brand is present today.
- However, given the difficulty of growing a new brand globally, it is not at all sure that Vinfast will succeed quickly.
- The automaker has, however, announced that the plant it is building near Hanoi will have a capacity of 250,000 vehicles per year.
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Read more... Vinfast exhibited its two models at the Paris Motorshow
Renault targets 50,000 Arkana sales per year
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Renault targets 50,000 Arkana sales per year
- Renault unveiled its first coupé SUV, the Arkana, at the Moscow Motor Show. This new model will be marketed only in Russia and the neighboring former Socialist Republics. It will not be marketed in Western Europe despite the fact that this kind of model would be popular there.
- This is the first time a generalist manufacturer has unveiled a SUV coupe, as up to now only BMW (X2, X4, X6), Mercedes (GLC Coupe, GLE Coupe) and Audi (Q8) have had such models in their catalog.
- The Renault Arkana is a C-segment SUV, of dimensions close to those of the Kadjar (4.54m x 1.80m x 1.57m against 4.45m x 1.84m x 1.60m), but it is built on the Dacia Duster platform renamed Renault Duster for the Russian market. It is therefore a model derived from Dacia. The new model will be manufactured on the Renault site in Moscow (Avtoframos) alongside the Renault Duster, Renault Kaptur and Nissan Terrano (rebadged version of the Renault Duster).
- Arkana announces the end of Renault's policy of simply rebadging Dacia models, which account for more than half of global Global Access sales (640,000 units out of 1.2 million in 2017). Future Renault models in the Global Access range will have their own bodywork. Renault sales targets for Arkana is 50,000 units per year.
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Renault unveils low-cost electric car for China
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Renault unveils low-cost electric car for China
- Renault unveiled its first low-cost 100% electric car reserved for China, on the sidelines of the Paris Motor Show, in response to the EV quotas imposed by the Chinese government on manufacturers located in the country. This electric vehicle is derived from the Renault Kwid (A Segment) built in India, in order to obtain the lowest possible production cost and an affordable selling price for the Chinese clientele. The selling price is indeed one of the negative factors of current electric cars, being clearly superior to combustion engine vehicles of the same category.
- The model called K-ZE (the K name evoking the name Kwid) was developed by a dedicated company, owned 25% by Renault, 25% by Nissan and 50% by Dongfeng (Dongfeng is indeed the partner of Renault and Nissan for car manufacturing in China) in collaboration with the teams at the Technocentre in Guyancourt.
- The Renault K-ZE, which will be manufactured from 2019 on the Shiyan site in Hubei province, is announced with a range of 200 kilometers (WLTP cycle). Given the current government subsidies in force in China, the price of K-ZE should not exceed 10,000 euros, according to the manufacturer. According to Inovev, the K-ZE could account for between 100,000 and 150,000 units of the 550,000 Renault vehicles sold in China in 2022. For the moment, the marketing of K-ZE is not planned in Europe, but sales in India remain possible.
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Read more... Renault unveils low-cost electric car for China
Inovev forecasts 400,000 annual sales of the new generation BMW 3 Series
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Inovev forecasts 400,000 annual sales of the new generation BMW 3 Series
- BMW has unveiled the seventh generation of the Series 3 at the Paris Motorshow. The new model retains the style of the current generation so as not to confuse the customer. Indeed, the 3 Series remains the best-selling vehicle of the brand, and 15 million have been sold since the first generation in 1975.
- The seventh generation is based on the CLAR platform, used on the BMW 5 Series, 6 Series and 7 Series. The use of this platform allows a weight reduction of 55kg on the total weight, despite increasing dimensions: 4.71m long ( + 8cm), 1.83m wide (+ 1cm) and 1.44m high (+ 1cm).
- The BMW 3 Series is still rivaled by Audi A4, Mercedes C-Class, Jaguar XE and Volvo S60 / V60. It will be available in Touring Wagon next year and the coupe and cabriolet versions will return to the Series 4 designation as today.
- The model will still be manufactured on the historical site of Munich (Germany).
- The engines of the new Series 3 are: 3-cylinder petrol engines 1.5 l (136hp), 4 cylinders 2.0 l (184hp) and 6 cylinders 3.0 l (326hp), diesel engines 4 cylinders 2.0l (150hp) and 6 cylinders 3.0l (258hp). A plug-in hybrid version will be available from next year. According to Inovev, 250,000 BMW 3 Series will be produced yearly in Europe and 150,000 in China. Production in North America is under consideration by the manufacturer.
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Read more... Inovev forecasts 400,000 annual sales of the new generation BMW 3 Series
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