The European and Chinese markets by segment remain very different in 2024
- The European and Chinese passenger car markets, which are expected to represent respectively nearly 13.5 million units and nearly 27 million units over the whole of 2024, remain very different in terms of market segments.
- The big difference between the two large markets is the strong presence of the D segment in China and the strong presence of the B market in Europe. Remember that passenger cars (sedans, SUVs, minivans) are classified in segments from A to F, depending on their size and price, segment A cars being the smallest and less expensive, segment cars F being the largest and most expensive.
- On the European market (EU + United Kingdom + Switzerland + Norway), in the first half of 2024, segment C represents 38% market share compared to 37% in the first half of 2023. It is two points ahead of segment B which represents 36 % market share compared to 35% last year. Conversely, segments D and A lose one point each, at 15% and 5% market share. Segment E is stable at 6%. Remember that segment A represented up to 10% of the market in the 2000s.
- On the Chinese market, in the first half of 2024, the D segment remains largely in the lead and strengthens its domination with 53% market share compared to 47% in the first half of 2023. The C segment, on the other hand, loses 5 points of market share, passing from 34% to 29%.
- The other segments remain largely in the minority, with 6% for segment E (stable) and 6% for all segments A-B, down one point compared to last year. These data confirm that Chinese market is a much bigger vehicles’ market than European market.