NIO will sell nearly 150,000 BEVs in the world in 2023
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NIO will sell nearly 150,000 BEVs in the world in 2023
- Among the many Chinese brands created these recent years, most have focused on the production of battery electric vehicles (BEV), such as Aion (GAC), Arcfox (BAIC), Avatr (Changan), BYD,
Geometry (Geely), IM Motors (SAIC), Maple (Geely), Neta (Hozon), NIO, ORA (Great Wall), Polestar (Geely), Rising (SAIC), Skywell (Skyworth), X-Peng or Zeekr (Geely).
The 14 brands mentioned above represent 22% of BEV sales in China over the first eight months of 2023 (785,703 units out of 3,606,680 BEV).
- Other recent Chinese brands have focused on both the production of battery electric (BEV) and plug-in hybrid (PHEV) vehiles, such as Denza (BYD), Leapmotor (Leapmotor), Li Auto (Li Auto), Lynk & Co (Geely), Seres (Seres), Voyah (Dongfeng) or WEY (Great Wall). The market share of these 7 recent brands, however, still remains very low (2% of the BEV market and 7% of the PHEV market).
- Among the recent Chinese BEV brands, Aion from the GAC group is making a spectacular breakthrough on the Chinese market in 2023 (300,000 sales over the first eight months of 2023), even if it remains very far from BYD (1,700,000 sales over the same period). NIO is currently three times smaller (100,000 sales over the same period) but announces a vast expansion plan in China and internationally. NIO hopes to sell 150,000 BEVs worldwide throughout 2023 and double this figure next year. With its current range of 7 different models which could expand further, NIO wants to compete with BYD on the Chinese market and internationally.
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.
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.
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.