Today's KNOWLEDGE Share
This is the full ranking for the global sales of light vehicles (passenger cars, pickup trucks, and light commercial vehicles) between January and September 2024.
Main facts:
- Top leadership unchanged with Toyota always ahead despite posting a 4% decrease. The company is being challenged in China, where its volume fell by 10%, but keeps a solid position in both USA and Europe. Toyota is the top seller in the majority of the emerging and poor economies.
- Volkswagen Group lost 2.8% vs Jan-Sep 2023, mainly because of China (-10%) where it’s no longer the leader. As its electric vehicles struggle outside Europe, it is looking desperately to join forces with local Chinese makers and reduce costs in Europe.
- Hyundai-Kia was down by 1.6% driven by China’s drop of 37% in contrast to stable sales in USA. Its electric vehicles are also suffering in the West.
- Stellantis is the most worrying case. It is not exposed to the Chinese market but still recorded a sales drop of 15% or 700,000 units less than Jan-Sep/23. The group lost 17% in sales in USA, and 15% in Europe. Seven of its 13 brands are in dire need of new products.
- General Motors improved its EV sales but was negatively affected by its Chinese operations (-44%). China is the group’s second largest market.
- Ford total sales increased by 21,000 units thanks to the 3% growth in USA, which was offset by the 16% drop in China and 7% drop in Europe.
- Honda was down by 3.7% also affected by its Chinese operations, down by 26%. Sales increased by 30% in Europe, but the total is not relevant compared to volumes in Japan, USA, and Asian nations.
- BYD is the star of the year thanks to the outstanding results at home in China. Total sales increased by 32% boosted by more demand in China, where it sold 89% of its global volumes. Meanwhile it is climbing rankings in Southeast Asia, Latin America, and Europe. BYD is expected to hit the world’s top 5 by the end of next year.
Other facts:
- Geely Group, up by 22%, thanks to Volvo, ZEEKR and Galaxy products in China.
- Xiaomi is heading to 100,000 units mark sales by the end of the year.
source:Felipe Munoz
#carindustryanalysis #automotive
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