Germany remains the largest European producer of PHEVs in the 1st quarter of 2024
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Germany remains the largest European producer of PHEVs in the 1st quarter of 2024
- Germany remains the largest European producer of plug-in hybrid cars (PHEV) in 2023 and the rest in the first quarter of 2024.
- This situation is explained by the fact that Germany produces a wide range of PHEVs, in particular Premium carmakers such as Mercedes, BMW, Audi and Porsche which are particularly well established in the country. It is indeed necessary to remember that PHEVs are mainly developed by Premium carmakers because the additional costs of this technology is acceptable on an already expensive luxury car but unacceptable on a much cheaper car produced by mainstream carmakers.
- If the production volume of PHEVs is increasing in Germany, it is due to greater demand for this type of vehicle in Europe but also in China where German exports (which represent the majority of European exports to China) are banking on PHEVs (which now represent 1 in 10 exported cars) to offset their difficult position in the BEV market. However, the Volvo XC60 and Ford Kuga are the most produced plug-in hybrid vehicles in the first quarter of 2024 while they are produced in Sweden (for the Volvo) and in Spain (for the Ford).
- Slovakia has become the second European country producing PHEVs thanks to the production of several models of this type, such as the Volkswagen Touareg, Audi Q7, Audi Q8, Kia Ceed, Kia X-Ceed, Kia Sportage and Land Rover Defender. The Netherlands will no longer produce PHEVs in 2024 because the production of the Mini Countryman has been transferred to Germany.
Spain overtook France for the production of BEVs in the first quarter of 2024
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Spain overtook France for the production of BEVs in the first quarter of 2024
- As we saw recently, Germany is the leading European producer of battery electric vehicles (BEV) in 2023 and also in the first quarter of 2024, thanks to a wide range of BEVs produced in the country including the Tesla Model Y which arrived in Germany in 2022 and which was the most produced BEV in Europe 30 countries (EU + United Kingdom + Switzerland + Norway) in 2023.
- Even if its production volume is down over the first three months of 2024 compared to the first three months of 2023 (55,000 units compared to 70,000), the Tesla Model Y remains by far the most produced BEV at European level this year.
- The most produced BEVs in 2024 behind the Tesla Model Y are well behind, as the Audi Q4 E-Tron, Peugeot e-208 and Skoda Enyaq fail to reach 15,000 units produced in the first quarter of 2024. We notice the drop of almost 50% of the production volume of the Volkswagen ID3 and ID4 in the first quarter of 2024, a direct consequence of the end in Germany of subsidies for the purchase of BEVs, these models being logically the most demanded in this country and suffering a collapse of their sales. These two models only occupy 11th and 12th place at European level even though they were expected to become the leaders in BEV production in Europe. The carmaker's objective was not achieved at all.
- Spain has overtaken France in 2024 as a European BEV producer because the Peugeot e-208 has been transferred from Slovakia to Spain and the Renault 5 E-Tech has not yet started on the assembly lines of Douai (France). Slovakia no longer produced BEVs during the first quarter of 2024 (consequence of the departure of the e-208 to Spain) but it has been producing them again since the begining of the second quarter of 2024 thanks to the launch of the Citroën e- C3.
The Fiat Tipo is set to disappear from the European market
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The Fiat Tipo is set to disappear from the European market
- Designed in the early 2010s, ten years before the merger of PSA and Fiat-Chrysler, the Fiat Tipo was launched on the European market at the end of 2015. It was positioned in the C-segment, that is to say it succeeded the old Fiat Stilo and Bravo. It was available in three bodies: five-door sedan with hatchback, four-door sedan with trunk and five-door station wagon.
- Produced in the Tofas factory in Bursa (Turkey), the Fiat Tipo was often be in the top 3 sales in Turkey (where it is named Egea) but its success in Europe (perimeter: 30 countries: EU + United Kingdom + Switzerland + Norway) was much more mixed, even in Italy.
- It has been sold at 500,000 units in ten years (i.e. 50,000 per year on average) with a peak of 125,000 units in 2017 and only 17,500 in 2023.
- But production and sales continue at a good pace in Turkey (700,000 units in ten years, or 70,000 per year on average) with a peak of 124,000 units in 2023. It has also become the only car sold by Fiat in Turkey (excluding utility vehicles), proof that this model is crucial for the Turkish market.
- On the other hand, for the European market, the Fiat Tipo is not at all a crucial model, because within the Stellantis group, there are many C-segment sedans (Peugeot 308, Opel Astra, Citroën C4, Citroën C4X) and the Tipo has stopped being sold in certain markets such as France. Now nine years old, it is in the process of being phased out in all European markets. But the Tipo will continue its career in Turkey or will be renewed in the near future. The question is whether Stellantis will launch a new Fiat C-segment sedan in other European markets.
How Xiaomi may increase its production to meet orders?
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How Xiaomi may increase its production to meet orders?
- The Chinese producer of electronic products Xiaomi presented its first car at the Beijing Motor Show, the SU7 (“Speed Ultra” 7), a battery electric D-segment sedan which openly competes with the Tesla Model 3, also from the D-segment, which sold 300,000 units in China last year and more than a million since its launch in the country in 2020.
- Xiaomi's first production forecasts indicated a volume of 100,000 units per year of the SU7 (assembled by the Chinese carmaker BAIC Motor in one of its factories located in Beijing with a capacity of 150,000 vehicles per year).
- With the level of orders having already reached 88,063 units at the end of April, Xiaomi increased its production forecasts to 120,000 units in 2024 and 150,000 units in 2025 in order to reduce delivery times reaching six to eight months depending on the version.
- To achieve these objectives, the carmaker will notably double daily production time from 8 hours to 16 hours, by doubling the teams. Inovev presents below the different scenarios for increasing production to meet firm orders (scenario 1), anticipate additional orders by the end of the year (scenario 2) and finally, more hypothetical, saturate capacities of the current factory (scenario 3).
- Xiaomi has also decided to build a second assembly plant in 2024-2025, still in Beijing, with a production capacity of 150,000 vehicles per year, like the current factory. This factory could produce the brand's future SUV. It is still unclear whether this is a factory built by Xiaomi alone or whether it is a factory built in cooperation with BAIC. Xiaomi will therefore have a production capacity of 300,000 vehicles per year from 2026.
German exports to China have fallen since 2019
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German exports to China have fallen since 2019
- Unlike France, Germany has been massively exporting automobiles to China since 2010, with a volume of exports having exceeded 200,000 units per year from this year.
- After 2010, German exports to China increased to 250,000 units per year in 2011, 2014 and 2016 and then reached 265,000 units in 2017, before increasing to 325,000 units in 2018 which marked the peak of exports.
- After 2018, the trend reversed and the volume of German exports fell to less than 300,000 units from 2020 and then to less than 250,000 units in 2023. This turnaround is mainly explained by the fact that German cars which were previously exported to China are now produced on the Chinese soil for local demand (more than 4 million in 2023). In addition, Chinese customers are increasingly moving towards Chinese brand cars and are gradually losing interest in imported foreign cars, especially with the development of the BEV market.
- According to Inovev, German exports to China will continue to decline over the coming years because there are no factors predicting a change of Chinese customers regarding their purchases.
- Regarding Chinese automobile exports to Germany, they have fluctuated relatively since 2005. After a peak of 93,000 units in 2007, they gradually fell to 22,000 units in 2013 before rising to 57,500 units in 2017. It is especially since 2021 that they have been growing steadily: 56,000 units in 2021, 71,000 in 2022 and 82,000 in 2023. According to Inovev, these exports from China to Germany will continue to grow over the coming years.