Today's KNOWLEDGE Share : Light Vehicles Sales Jan-Sep 2024

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

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