China 2018. Auto market fell down, first time since ’90s

Chinese Auto Market

Chinese Auto Market fell down in 2018 first time since the ’90s. The market fell during the second half, despite tax reduction ending the year at 27.5 million units. Volkswagen led the market with over double sales than Honda, while Geely (+10%) advanced in third place.

Economic Environment

Chinese economic growth slowed again in the fourth quarter as spillovers from both financial deleveraging earlier in the year and the trade spat between China and the United States continue to weigh on economic activity. Although policy easing is preventing the economy from decelerating sharply and the slowdown appears to be manageable for now, risks are mounting.

Economic growth will remain lackluster this year on the back of moderating domestic growth amid trade tensions between China and the U.S. Although authorities will rely on fiscal and monetary policy support to avoid any sharp slowdown, the scale of the policy stimulus will be rather limited compared to previous initiatives.

Market Trend

Chinese domestic vehicles market has reduced the growing speed since 2016, after having achieved the 30% of global sales. The future evolution is clearly driven more by real solution regarding the two main issues created by the last decade market boom, pollution and traffic congestion. Chinese government has shifted its attention from total volume to engine mix and is progressively creating incentives to small and low emission vehicles, while supporting investment in the AFVs, mainly electric. In this direction, in January 2017 it has been increased the duties for vehicles with engines displacements over 1.6 liter (from 5% to 7.5%). During the 2017, according to the data released by the C.A.A.M., (China Association of Automobile Manufacturers) new light vehicles sales (including both domestic produced and import) have been 28.2 million, up 0.9%.

The Chinese government announced on 22 May 2018 that the customs duty for CBUs had be reduced from 25% or 20% to 15% from 1 July 2018, and that the duty for auto parts were be cut simultaneously to 6%. This adjustment means that Passenger Vehicles (PVs) had been taxed at 15% since last July, instead of the previous 25%.

However, in the 2018 the Chinese vehicles market has progressively lost steam, following the deceleration of the domestic consumer demand. Indeed, after a positive start, the market has performed negatively during the second half of the year, ending with sales down 3.7%. The market has interrupted the positive trend of recent years losing for the first time since ’90s and closing the 2018 with 27.5 million units sold.

MarketSales 2014Sales 2015Sales 2016Sales 2017Sales 2018'+/- 2018
Car+LCV23.561.89024.983.32927.977.21728.635.73627.589.987-3,7%

Competitive Arena

The 2018 market leader was Volkswagen, ending with over the double sales than the second with 3.1 million vehicles (-0.4%) and 11.7% of market share.

At the end of an amazing run Honda has taken the second place with actual figures at 1.45 million units (+2.4%).

In third place Geely with 1.37 million (+10.0%) few units ahead of Toyota with 1.37 million (+13.5%).

In fifth place Nissan with 1.23 million units (+7.7%) followed by Changan with 1.15 million (-17.0%), Wuling with 1.1 million (-1.2%), Buick with 1.06 million (-13.1%), Baojun with 879.077 (-13.9%) and in 10th place by Hyundai with 802.000 (-3.9%).

At model-wise, pushed up by new generation launch, the Volkswagen Lavida recovered the leadership since June with the launch of last generation and established itself on top of the 2018 list with 503.825 (-2.6%) sales ahead the Nissan Sylphy able to escalate the ranking up to the second place with 481.216 (+18.9%) and the Wuling Hongguang with 476.538 (-10.5%).

The list of Chinese Best Selling models ranking for the current and previous year is available in dedicated section.

Research, Consulting, Data & Forecast

F2M covers intensively this market with several products developed to help any investigation required. Market Researches in PDF are immediately available for download with study on the market since 2005 and with forecast up to the 2025. AutoData in EXCEL are immediately downloadable with annual sales volume, split by month, for all brands and all models distributed in the market. This year data are released year to date, but you will receive a monthly update until the year-end.  See details within  China Corner Store

Rank 2018Rank 2017 Sales 2018Sales 2017'+/- 2018Share 2018
11Volkswagen3.172.0803.191.855-0,6%11,5%
22Honda1.452.4411.417.8052,4%5,3%
34Geely1.386.1851.260.19810,0%5,0%
46Toyota1.374.9071.211.09813,5%5,0%
57Nissan1.233.1631.145.3987,7%4,5%
63Changan1.159.4351.396.395-17,0%4,2%
78Wuling1.116.1411.129.497-1,2%4,0%
85Buick1.063.6671.224.240-13,1%3,9%
99Baojun879.0771.021.307-13,9%3,2%
1013Hyundai802.744834.991-3,9%2,9%
1112Haval766.062849.554-9,8%2,8%
1211Dongfeng749.637902.229-16,9%2,7%
1314Mercedes692.509609.40013,6%2,5%
1416Audi682.531601.48213,5%2,5%
1515Chevrolet679.190604.00712,4%2,5%
1618BMW629.835562.42412,0%2,3%
1719Trumpchi536.865508.5635,6%1,9%
1820BYD480.360439.1469,4%1,7%
1923Roewe470.809413.94013,7%1,7%
2017Baic455.519569.860-20,1%1,7%
2110Ford445.627906.008-50,8%1,6%
2221Chery444.404434.8472,2%1,6%
2322JAC400.497426.081-6,0%1,5%
2425Kia370.005369.3470,2%1,3%
2526Skoda352.004334.5215,2%1,3%
2624Foton347.709397.193-12,5%1,3%
2728Mazda277.729319.007-12,9%1,0%
2841MG258.240134.78691,6%0,9%
2936Cadillac232.311173.76733,7%0,8%
3027Zotye227.134325.124-30,1%0,8%
3129JMC213.779273.802-21,9%0,8%
3233Lifan183.695214.464-14,3%0,7%
3334Isuzu170.919183.065-6,6%0,6%
3444Lexus164.988130.34826,6%0,6%
3535Jinbei163.987178.805-8,3%0,6%
3646Mitsubishi150.805125.05020,6%0,5%
3743Great Wall148.013131.49812,6%0,5%
3830FAW147.978262.781-43,7%0,5%
3955WEY139.48686.42761,4%0,5%
4031Peugeot139.251249.297-44,1%0,5%
4132Jeep137.273219.086-37,3%0,5%
4250Volvo133.876114.06417,4%0,5%
4338Venucia132.111142.927-7,6%0,5%
4445Hawtai121.735129.232-5,8%0,4%
4589Lynk & Co120.4146.0121902,9%0,4%
4642Citroen118.263133.400-11,3%0,4%
4748Sichuan South Chun116.273121.134-4,0%0,4%
4851Maxus113.786110.7242,8%0,4%
4953CNHTC111.82495.07017,6%0,4%
5049Land Rover98.268117.861-16,6%0,4%
5140Leopaard92.994136.254-31,7%0,3%
5237Soueast85.361151.081-43,5%0,3%
5352Brilliance80.988102.673-21,1%0,3%
5458Porsche79.01268.85614,7%0,3%
5560Hanteng64.35762.0203,8%0,2%
5639Haima64.007136.943-53,3%0,2%
5782Qoros62.25215.381304,7%0,2%
5861Lincoln58.49052.90310,6%0,2%
5957Change58.31571.453-18,4%0,2%
6059SWM57.38864.232-10,7%0,2%
6156Renault51.72074.102-30,2%0,2%
6247Suzuki50.306123.379-59,2%0,2%
6354Karry48.25790.762-46,8%0,2%
6478ZX Auto44.75119.657127,7%0,2%
6563Infiniti44.67046.680-4,3%0,2%
6664Jaguar40.74245.227-9,9%0,1%
67116Jetour40.0090,1%
6865BAW38.33544.538-13,9%0,1%
6970Yema36.13834.5484,6%0,1%
7074Huanghai34.30925.51534,5%0,1%
7166Borgward32.94244.380-25,8%0,1%
7273Jiangxi28.74127.4304,8%0,1%
7371Mini28.69233.105-13,3%0,1%
74116Hongqi26.6650,1%
7562Bisu26.44847.245-44,0%0,1%
7676Shandong Kiama24.98320.30023,1%0,1%
7772Subaru24.80830.489-18,6%0,1%
7867Cowin24.30143.423-44,0%0,1%
79116Traum21.5210,1%
8075Smart21.19920.7632,1%0,1%
8168Landwind18.80042.544-55,8%0,1%
8283Tesla15.40014.7164,6%0,1%
8369Zhi Dou15.33642.484-63,9%0,1%
8496Zhengzhou12.5563.202292,1%
8579Weichai10.99618.602-40,9%
86116Bestune10.757
8781Maserati10.69615.735-32,0%
8885FQT10.4559.6568,3%
8980Luxgen9.39317.859-47,4%
90116Fengguang8.689
91116Iveco8.203
92116Dorcen8.156
93116Nio8.101
9484Acura8.06314.208-43,3%
95116COS7.933
9699Yudo7.1832.258218,1%
9777Kandi6.96419.713-64,7%
98116Changhe6.834
99116YGM5.673
10094Alfa Romeo5.6643.71752,4%
101111Beiqi4.5581203698,3%
102112Dearcc3.9181093494,5%
10390DS3.8705.847-33,8%
104116Ora iQ3.515
10597Bentley3.1932.33936,5%
10692Wichai2.8174.835-41,7%
10786Denza1.9829.370-78,8%
108100SsangYong1.4401.677-14,1%
109101Jiangnan1.0731.122-4,4%
110116Lark1.005
11187Horki9647.203-86,6%
11293Huasong8544.577-81,3%
113103Rolls-Royce84260938,3%
11495Dodge8053.300-75,6%
115102Chrysler693875-20,8%
116105Arcfox58847224,6%
117116Foday533
11891Jonway5005.546-91,0%
119107Aston Martin48132946,2%
120116Ram471
121106Ferrari3923618,6%
122116Xpeng371
12398Fiat2802.300-87,8%
123110McLaren28014889,2%
124108GMC221271-18,5%
125114Lotus8120305,0%
126116Sinogold62
127109Lamborghini61180-66,1%
128115Alpina315520,0%
129113TechArt940-77,5%
130116Kawei3
131104Yulon531-100,0%

Rank 2018Rank 2017 Sales 2018Sales 2017'+/- 2018Share 2018
11Volkswagen Group4.288.8814.199.2332,1%15,5%
22General Motors3.970.6074.153.089-4,4%14,4%
34Geely Group1.647.5201.400.00717,7%6,0%
47Toyota Group1.539.8951.341.44614,8%5,6%
56Renault Nissan Alliance1.480.3581.391.2306,4%5,4%
63Honda Motor1.460.5041.432.0132,0%5,3%
78Hyundai-Kia1.172.7491.204.338-2,6%4,3%
85Changan1.167.3681.396.395-16,4%4,2%
911Great Wall Motors914.075981.052-6,8%3,3%
109BAIC900.4661.083.516-16,9%3,3%

Rank 2018Rank 2017ModelSales 2018Sales 2017'+/- 2018
12Volkswagen Lavida503.825517.255-2,6%
25Nissan Sylphy481.216404.72618,9%
31Wuling Hongguang476.538532.394-10,5%
43Haval H6452.552505.944-10,6%
59Toyota Corolla374.400336.76311,2%
66Baojun 510361.403358.8770,7%
711Volkswagen Jetta327.685317.6373,2%
810Volkswagen Sagitar309.902327.062-5,2%
97Volkswagen Tiguan307.896347.328-11,4%
1016Hyundai Elantra284.284280.1841,5%
1113Volkswagen Santana276.411287.334-3,8%
1219Wuling Mini Truck264.091255.2373,5%
13776Buick Excelle GT261.920
1414Geely Boyue255.695286.163-10,6%
1512Foton Light Truck253.788294.127-13,7%
1628Chevrolet Cavalier252.108189.45933,1%
178GAC Trumpchi GS4250.605337.330-25,7%
1818Geely Emgrand EC7246.998259.418-4,8%
1920Volkswagen Bora245.818248.665-1,1%
2025Volkswagen Magotan228.990216.3035,9%
2123Roewe RX5224.819234.418-4,1%
2234Honda Civic218.132173.86525,5%
2330Nissan X-Trail207.951184.61212,6%
2442Chana Light Truck205.441154.52133,0%
2522Buick Envision201.776236.229-14,6%
2635Toyota Levin192.697172.87111,5%
2729Buick Verano192.174185.3263,7%
2836Wuling Hongguang V184.605172.3567,1%
2940Volkswagen Passat179.028160.32411,7%
3038Jac Light Truck177.522169.4524,8%

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