The European and Chinese markets by segment remain very different in 2024
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The European and Chinese markets by segment remain very different in 2024
- The European and Chinese passenger car markets, which are expected to represent respectively nearly 13.5 million units and nearly 27 million units over the whole of 2024, remain very different in terms of market segments.
- The big difference between the two large markets is the strong presence of the D segment in China and the strong presence of the B market in Europe. Remember that passenger cars (sedans, SUVs, minivans) are classified in segments from A to F, depending on their size and price, segment A cars being the smallest and less expensive, segment cars F being the largest and most expensive.
- On the European market (EU + United Kingdom + Switzerland + Norway), in the first half of 2024, segment C represents 38% market share compared to 37% in the first half of 2023. It is two points ahead of segment B which represents 36 % market share compared to 35% last year. Conversely, segments D and A lose one point each, at 15% and 5% market share. Segment E is stable at 6%. Remember that segment A represented up to 10% of the market in the 2000s.
- On the Chinese market, in the first half of 2024, the D segment remains largely in the lead and strengthens its domination with 53% market share compared to 47% in the first half of 2023. The C segment, on the other hand, loses 5 points of market share, passing from 34% to 29%.
- The other segments remain largely in the minority, with 6% for segment E (stable) and 6% for all segments A-B, down one point compared to last year. These data confirm that Chinese market is a much bigger vehicles’ market than European market.
The Italian Melfi factory will welcome five new models from 2025
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The Italian Melfi factory will welcome five new models from 2025
- While Dongfeng announced that it would build an assembly plant in Italy which will begin operations before 2030, the Stellantis group announced that it planned to develop the production of its models in Italy by notably implementing five new models in its Melfi factory, located in southern Italy. The Italian government had in fact expressed reservations regarding the announcement of the manufacturing of the Jeep Avenger, Fiat 600 and Alfa-Romeo Junior in Poland (on the Tichy site) although according to it these models could have been manufactured in Italy. The announcement of the production of the new Fiat Grande Panda in Serbia was also misunderstood by the Italian government.
- The Stellantis group has therefore issued two announcements, the first concerning existing models, namely the electric Fiat 500 and the hybrid Jeep Compass, which will continue to be manufactured in Italy, the first on the Mirafiori site and the second on the site of Melfi. A hybrid version will support the electric Fiat 500 whose sales are stagnating.
- The second announcement concerning future models seems more interesting insofar as it concerns four currently unknown models which will be produced on the Melfi site, most of them being 100% electric D-segment SUVs: an Opel version ( perhaps called Manta), a Lancia version (perhaps called Aurélia), a DS version (perhaps called DS8) and another shorter DS version (perhaps called DS5). These four models launched in 2025 and 2026 will be added to the new generation of Jeep Compass expected in 2025. They will all be equipped with the STLA Medium platform. In return, the Fiat 500X and Jeep Renegade produced in Melfi will be discontinued at the end of 2024 and the end of 2025 respectively.
The Indian automobile market grew by 7.3% in the first half of 2024
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The Indian automobile market grew by 7.3% in the first half of 2024
- The Indian automobile market for passenger cars was clearly influenced in April-May 2024 by the holding of the legislative elections which took place from April 19 to June 1.
- The market, however, recovered well in June and had anticipated this drop in April-May since March because the month of March was euphoric, having reached a level never reached before, of around 475,000 sales. of passenger cars, which represents an annual rate of 5.7 million units, which India has never reached anywhere near. In 2023, the Indian automobile market represented 4.1 million passenger cars and this was a record for the country.
- Thanks to its good performance recorded in March and June, the Indian automobile market for passenger cars grew by 7.3% in the first half of 2024, to 2,161,507 units compared to 2,014,329 units in the first half of 2023, which is equivalent to an annual rate of 4.4 million units (for the record: first half of 2023/first half of 2022 = +10.0%).
- Suzuki (marketed in India under the Maruti brand) remains largely the Indian market leader, with 42% market share, a stable share compared to last year. This manufacturer perfectly responds to local demand for A and B segment sedans and SUVs. Indian competitors (Tata, Mahindra) have never been able to gain share from Suzuki-Maruti. If they occupy 25% of the market in 2024 compared to 24% in 2023, it is because they have taken share from foreign manufacturers who represent 33% of the market in 2024 compared to 34% in 2023.
The Brazilian automobile market grew by 15.7% in the first half of 2024
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The Brazilian automobile market grew by 15.7% in the first half of 2024
- The Brazilian automobile market for passenger cars increased by 15.7% in the first half of 2024 compared to the first half of 2023, to 848,845 units compared to 733,715 (for the record: first half of 2023/first half of 2022 = +7.4% ).
- The election of President Lula at the end of 2022 and the establishment of his economic program is probably not the cause of this strong market growth, growth having started in 2021 but at a lower level. We thus went from 1.56 million passenger car sales in 2021 to 1.58 million units in 2022, 1.72 million units in 2023 and over six months of 2024 we are at an annual rate of 1 .99 million units. Growth is accelerating.
- This figure is, however, more than twice lower than that of India for example (in absolute value), which places Brazil in sixth position globally, behind China, the United States, Europe, India and Japan.
- By manufacturer, the Stellantis group remains largely the leader in the Brazilian market (24.5% market share) thanks mainly to the Fiat brand which has been omnipresent in this market since the 1960s, arriving in the wake of the Volkswagen brand established here in the 1960s. 50. The Fiat brand represents two-thirds of the Stellantis group's sales in Brazil in 2024.
- The Stellantis group sees its sales stagnate between 2023 and 2024, while the Volkswagen group (17.5% of market share) sees its sales increase by 20% thanks to the success of recently launched models. The GM group (13.5% market share) clearly stands out from Volkswagen and is getting dangerously close to the Hyundai-Kia group (10.5% market share), which is progressing. Chinese manufacturers now occupy 9% of the Brazilian market, growing constantly.
The Japanese automobile market declined by 12.1% in the first half of 2024
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The Japanese automobile market declined by 12.1% in the first half of 2024
- The Japanese automobile market for passenger cars fell by 12.1% in the first half of 2024 compared to the first half of 2023, going from 2,047,694 units to 1,800,077 (for the record: first half of 2023/first half of 2022 = +19.5%).
- The main reasons for this sharp drop are essentially explained by the certification test fraud scandal at Daihatsu, a subsidiary of the Toyota group and one of the two main producers of midgets with Suzuki, its competitor.
- Daihatsu production had to be stopped for several weeks during the first quarter of 2024, which led to a collapse in the brand's sales between January and June 2024, falling from 229,000 units in the first half of 2023 to 69,000 in the first half. 2024, which represents a drop of 160,000 sales only partially offset by Suzuki (+48,000 sales) and Honda (+61,000 sales) which also manufacture midgets.
- But the backlash was felt at Toyota, the owner of Daihatsu, which itself suffered a drop of 166,000 sales in the first half of 2024, going from 775,000 sales to 609,000, a fall offset by no other manufacturer.
- Nissan is stable (208,000 sales versus 209,000) like Subaru (47,000 sales versus 46,000). Mazda is even in decline (64,000 sales compared to 93,000). Only Mitsubishi saw its sales increase, but very modestly (52,000 sales compared to 45,000).
- After the dismissal of Daihatsu's CEO in February 2024, the brand's production has gradually restarted and things have started to return to normal since May-June.