The fastest growing carmakers in China in the first 8 months of 2022
- Unlike the other two major global automotive markets, Europe and the United States, the Chinese market (VP+LCV = European segmentation) not only is not collapsing but is progressing significantly (+11.8%), on the first eight months of 2022 compared to the first eight months of 2021 (it even records an increase of +30% compared to 2020 and +10% compared to 2019).
- The gap between China and the other two major markets is therefore growing, with the Chinese market reaching 14.65 million units for the first time in the first eight months of 2022 (compared to 13.10 million units over the first eight months of 2021), while the European and US markets are well below 10 million units over this period. Which manufacturers are growing the most in China over the period?
- The manufacturer that has made the most progress is BYD (producer of electric cars and rechargeable hybrids) with a spectacular increase in sales of 167% which allows it to now follow the independent leaders Geely (+4%) and Changan (-1%) . Also progressed well Tesla (+67%) also producer of electric cars, GAC (+47%), Chery (+36%), Dongfeng (+29%) and SAIC (+27%). As a general rule, Chinese manufacturers show much higher growth than foreign manufacturers. And many foreign manufacturers are down, except for the Volkswagen groups (+10%), Toyota (+13%), GM (+1%), Honda (+3%) and Stellantis at a much lower level of sales (+ 17%). Conversely, Hyundai-Kia lost 33%, Mazda lost 24%, Renault-Nissan lost 8% and Ford lost 2%.
- The share of Chinese manufacturers therefore now reaches 43.5% of the market and even 48.5% if we include the Baojun and Wuling brands accounted for in the GM group.
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