Which manufacturers have suffered the most from the Covid-19 crisis in China?
- We have previously seen that the Chinese automobile market for passenger cars (passenger cars) declined by 20.5% in January 2020 and by 81.7% in February 2020, or by 43.5% in the first two months of the year 2020, due to the coronavirus health crisis.
- Not all manufacturers located in China suffered an identical drop, because on the one hand all the factories in China did not close at the same time, neither were the concessions, certain regions were more affected than others ( Hubei for example) and some factories suffered more than others from a shortage of parts. Finally, we can add that certain brands benefited from stronger demand than their competitors, due to a more attractive offer.
- All these elements taken into account, we observe that the big losers are Renault (-87%), FCA (-83%) and PSA (-77%), which had already acquired a very fragile position on the Chinese market for several years, and one may wonder if their presence on this market is still possible. Also a big loser, the GM group (Wuling -70%, Baojun -68%, Chevrolet -55-%, Buick -52%, Cadillac -48%) which fell overall by 59%. The Hyundai-Kia group is also very affected by the crisis (-51%).
-More surprisingly, the VW group lost 42% (Skoda -74%, Volkswagen -48%, Audi -24%) and would have lost more without the contribution of its new brand Jetta whose sales exceeded that of Ford on the Chinese market . However, Ford is the only group to have seen its sales and production increase in 2020 in China, compared to 2019. Chinese manufacturers and Premium brands have held up better in this global context of collapse.
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