The Brazilian market grows by 9.1% in 2023 compared to 2022
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The Brazilian market grows by 9.1% in 2023 compared to 2022
- The Brazilian passenger cars market experienced a small recovery in 2023, of around 9.1% compared to 2022, much lower than the global market (+12.9%). The Brazilian market did not exceed 1.72 million units, which places Brazil in 8th position behind France. The catch-up in the period 2020-2022 is very modest as the sales missed during these three mediocre years are estimated by Inovev at 2 million units, which was not compensated at all by the small recovery of 2023.
- Brazil was once described as a market with very high potential due to a large population (215 million people), a still low motorization rate (350 cars per 1,000 inhabitants) and a middle class which is developing with increasing incomes, but this market is subject to the economic ups and downs of emerging countries.
- The sales peak reached in 2012 (with 2.8 million passenger car sales) has never been exceeded since that date. The best performance after 2012 was recorded in 2019, with 2.3 million units. The year 2024 should continue the recovery started in 2023, but without hope of reaching the 2019 level.
- By carmakers, the Stellantis group remains the leader of the Brazilian market in 2023 (27% market share), thanks to its subsidiary Fiat which is a traditional player and very present in this market since the 1950s. The Volkswagen group is second but well behind (17% market share), ahead of the GM groups (16%) and Hyundai-Kia (11%). Chinese carmakers will reach 5% of the Brazilian market in 2023, constantly growing. Tesla only sold 16 cars last year in Brazil.
BEVs represent 24% of the Chinese market in 2023
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BEVs represent 24% of the Chinese market in 2023
- Sales of battery electric vehicles (BEV) continued to grow in China in 2023. From 5% of the Chinese market in 2020, they increased to 13% of the market in 2021, 21% in 2022 and 24% in 2023, which makes China the most electrified country in terms of new car sales. In Europe, the share of BEVs did not exceed 16% last year and in the United States, they barely reached 8%.
- It is interesting to note that a carmaker emerged exponentially during the rapid and significant development of BEV sales in China. This is BYD which has captured a quarter of the Chinese BEV market (1.55 million out of 6 million units), thanks to a range well suited to demand. With this completely exceptional rise in power, BYD is becoming the leading carmaker on the Chinese market ahead of the Volkswagen group and a formidable competitor for Tesla, due to a much wider range.
- Unlike the European market, sales of PHEV (plug-in hybrids) also continue to develop in China, representing 11% of the market in 2023 compared to 7% in 2022 and 3% in 2021. This sales increase is also mainly due to BYD which captured half of the Chinese PHEV market last year (i.e. 1.45 million out of 2.8 million units). Full hybrids remain stable at 3% of the Chinese market. These models are not appreciated by customers.
France is the European leader in the production of light utility vehicles
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France is the European leader in the production of light utility vehicles
- France has gradually become the European leader in the production of light utility vehicles in the three segments available on the market (N1-1: small utility vehicles, N1-2: medium utility vehicles, N1-3: large utility vehicles).
- First of all, it is to be noted that France is the European first market for light utility vehicles, but for a simple reason: carmakers offer on this market specifically modified sedans (and now also some SUVs) with reduced taxes (which we could qualify as fake utility vehicles) in a significant quantity, 59,000 units in 2023 compared to 51,000 in 2022 and 55,000 in 2021. These vehicles represent around 15% of LUVs sold in France each year.
- As for real utility vehicles (vans and pickup trucks), which represent 85% of LUVs sold in France, they also represent 35% of automobile production in France in 2023 and 25% of LUV production in Europe.
- While the production of passenger cars in France has been largely relocated over the past twenty years to other European countries, even to Turkey or Morocco, this is less true for light utility vehicles. Renault, for example, keeps the entire production of its Kangoo (N1-1), Trafic (N1-2) and Master (N1-3) in France, as well as their Nissan derivatives. For Stellantis, the observation is more nuanced: its medium utility vehicles (N1-2) Citroën Jumpy, Peugeot Expert, Fiat Scudo, Toyota ProAce are mainly produced in Hordain, in the North of France, as well as a small quantity of Opel Vivaro.
-By comparison, LUVs represent 9% of the German production, 10% for Poland, 11% for Italy, 16% for Turkey 16% and 17% for Spain.
BEVs represent 16% of the European market in 2023
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BEVs represent 16% of the European market in 2023
- Sales of battery electric vehicles (BEV) continued to grow in Europe (29 countries) in 2023. From 6% of the European market in 2020, they increased to 11% of the market in 2021, 14% in 2022 and 16% in 2023. With a market share which only increases by 2% per year on average, we would reach a market share of 30% in 2030 and 40% in 2035.
- In 2023, BEV sales surpassed for the first time sales of diesel cars which did not exceed 12% market share and which continue to decline (see graphs). BEVs now represent twice the sales of plug-in hybrids (PHEV), which are declining. Full hybrids are no longer progressing and remain stable at 8% of the European market in 2023.
- Countries where BEVs represent more than the European average level in 2023 are Norway (82.4%), Sweden (38.7%), Denmark (36.3%), Finland (33.8% ), the Netherlands (30.8%), Luxembourg (22.5%), Switzerland (20.9%), Austria (19.9%), Belgium (19.6%), Ireland (18.6%), Germany (18.4%), Portugal (18.2%), France (16.8%) and the United Kingdom (16.5%). It is therefore the countries of the North, Center and West which buy the most BEVs.
- Conversely, the countries of the South and East are those which buy the least BEVs. In these countries, the market share of BEVs is less than 10% and the lowest rate (less than 4%) is recorded in Poland, Czechia, Slovakia and Croatia. The rates in the countries of the South are also very low: Italy is at 4.2%, Greece at 4.7% and Spain at 5.4%.
BMW and Mercedes each sold 2.5 million vehicles in 2023
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BMW and Mercedes each sold 2.5 million vehicles in 2023
- The BMW group (BMW, Mini, Rolls-Royce) sold 2,555,341 vehicles worldwide in 2023 (i.e. +6.5% compared to 2022). This volume is broken down into 2,253,835 BMW branded vehicles (+7.3%), 295,474 Mini vehicles (+0.9%) and 6,032 Rolls-Royce vehicles which broke its sales record. Sales of battery electric vehicles (BEV) reached 376,183 units last year. This volume represents 15% of the carmaker's total sales, which is counting on a proportion of 20% in 2024 and 25% in 2025. Today, the product range of BEVs is made of 15 different models.
- By geographic region, the BMW group sold 943,000 vehicles in Europe in 2023 (+7.5%), 825,000 in China (+4.2%) and 396,000 in the United States (+9.4%). BMW's growth remains lower than the global market in 2023 (+12.9%).
- The Mercedes group (Mercedes, Smart) for its part sold 2,491,600 vehicles worldwide in 2023 (i.e. +1.5% compared to 2022) including 2,043,800 passenger cars (+0%) and 447,800 light utility vehicles (+8%). Sales of battery electric vehicles (BEV) reached 240,600 units last year, or 10% of the carmaker's total sales, a proportion lower than the BMW group. However, the product range of BEVs from the Stuttgart carmaker is also made of 15 different models as for BMW group. Mercedes reports that the Maybach versions (competitors of Rolls-Royce) saw their sales increase by 19% last year. By geographic region, the Mercedes group sold 939,000 vehicles in Europe in 2023 (+7.3%), 771,000 in China (-2.0%) and 373,000 in the United States (+1.0%). Mercedes' growth remains well below the global market in 2023.