In China, which carmakers are posting the strongest growth in the first quarter of 2021?
- The Chinese passenger car market is up 76.6% in the first quarter of 2021 compared to the first quarter of 2020, which had been hampered by lock down and plant closures for several weeks. It is practically back to the level of the first quarter of 2019, down only 3.5% compared to this period. Which carmakers are posting the strongest growth in the first quarter of 2021?
- The strongest growth is recorded by the Tesla brand which was not present in China at the start of 2020. This is also the case for the Lincoln brand of the Ford group which intends to make a place for itself in the Premium segment against Cadillac and… Tesla .
- Next comes GM-Wuling (+ 260%) which benefits from the massive success of its small BEV, the HongGuang (nearly 100,000 sales in China in the first quarter of 2021). The HongGuang EV has helped reverse the descending trend of the GM-Wuling brand that has been observed for several years. Strong growth was also recorded by the Peugeot (+ 203%) and Citroën (+ 136%) brands of the Stellantis group which had collapsed in recent years and which sale low volumes. Next are the Buick (+ 123%) and Cadillac (+ 129%) brands of the GM group, the Chinese brands Great Wall (+ 134%) and Changan (+ 123%), the Japanese brand Honda (+ 114%) and the Premium brands Audi (+ 97%) and BMW (+ 97%).
- Chinese local carmakers now represent 42% of the Chinese passenger car market against 41% in 2020. The Chinese government’s target (more than 40% of market share) announced a few years ago has therefore been reached.
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