The fall in production of the 3 large traditional Chinese manufacturers is confirmed
- The three large traditional Chinese manufacturers (SAIC, FAW, Dongfeng) which mainly produce for foreign manufacturers (Volkswagen, GM, Toyota, Honda, Nissan) have seen their production decline sharply since 2017-2018.
- The SAIC group which produces Volkswagen and GM went down from 6.8 million vehicles produced in 2017 to 4.5 million in 2023 (Inovev forecast), due to the continued fall in sales of Volkswagen and GM on the Chinese market. Its own brands Roewe, MG and Maxus only offset a very small part of this fall.
- The FAW group which produces Volkswagen and Toyota only experienced its first decline in 2023 (2.8 million vehicles produced compared to 3.6 million in 2022 according to Inovev forecasts) due to the fall in sales of Volkswagen has so far been partly offset by increased sales from Toyota.
- The third large traditional Chinese group, Dongfeng, has experienced a constant decline since 2017. From 3.7 million vehicles produced in 2016, its production volume fell to 2.7 million in 2020 and 1.9 million in 2023 (Inovev forecasts). Dongfeng is suffering from falling sales of Peugeot, Citroën, Renault, Nissan, Honda and Kia. In 2023, Dongfeng will fall behind Geely and be on par with Changan, which has nevertheless suffered from the fall in sales of the Ford it produces.
- The only extremely positive case is the manufacturer BYD which went from 417,000 vehicles produced in 2020 to 738,000 in 2021, 1,866,000 in 2022 and undoubtedly more than 2.5 million in 2023 (Inovev forecasts), thus following FAW.