China March. No improvement for the market, while Honda soars to 37.6%

World Car Group Ranking

Chinese Auto Market signed the fifth consecutive double-digit drop in March with 2.309.609 units (-13.7%). Volkswagen still on top with 11.9% market share (-5.3%) followed by Toyota – up 7.9%- and Honda (+37.6%) best performer within the Top10. Nissan Sylphy jumped in the 2nd place, scoring +22.3%.

 

Economic Environment

Chinese economy appears to have bottomed out in March, with the manufacturing PMI returning to expansionary territory in the same month on the back of government support. Moreover, exports expanded at the fastest pace in five months in March. That said, the regular set of indicators for March, which will be released later this week, will corroborate whether the economy has entered into a cyclical upturn. On 10 April, U.S.

Treasury Secretary Steven Mnuchin stated that China and the U.S. had made significant progress on the enforcement mechanism for the long-awaited trade deal, which is one of the cornerstones for a successful accord.

 

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, sales have been 28.2 million, up 0.9%.

The Chinese government announced on 22 May 2018 that the customs duty for CBUs had to be reduced from 25% or 20% to 15% from 1 July 2018, and that the duty for auto parts were being 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, 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 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.

The 2019 kept declining in January – the 7th month in a row – signing the third consecutive double-digit drop, with sales at 2.332.165 (-16.3%). February were down again signing -17.6% and 1.421.311 units.

In March, the market dropped down in double-digit (-13.7%) with 2.309.609units, leading to year-to-date registrations at 6.082.005 (-15.4%).

 

Market Outlook

After the recent years’ decline, the Chinese market is expected to recover over the 2019-2025 period of time. Indeed, on the economic front, fiscal and monetary easing are expected to cushion the economy against any sharp slowdown, while a further deterioration in relations between China and the U.S. is the main downside risk.

Being interested to know more, give a look at this updated research. Clicking on the picture, you can see contents.

 

Competitive Arena

The year-to-date market leader was Volkswagen selling 723.605 units (-10.9-8%) and holding 11.9% of market share.

In second place, Toyota has soared to 10.7% with actual figures at 357.256 units, followed by Honda with 357.163 (+10.7%) few units ahead of Geely with 334.574 (-9%).

In fifth place Changan with 309.150 units (-19.6%) followed by Nissan with 277.781 (+5.5%), Wuling 258.971 (-15.2%), Buick with 233.468 (-18.4%), Haval with 206.038 (+15.1%) and in 10th place by Mercedes with 187.045 (+0.5%).

At model-wise, the Volkswagen Lavida has consolidated the leadership with 143.648 sales (+21.3%) ahead of the Nissan Sylphy with 113.900 (+22.3%) and the Wuling Hongguang with 103.376 (-31%).

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

Rank
2019
Rank
2018
BrandSales
YTD 2019
Sales
March
March
YTD +/-
Mar
19 +/-
Share
YTD 2019
Share
March
11Volkswagen723.605264.274-10,9%-5,3%11,9%11,4%
24Toyota357.256122.15110,7%7,9%5,9%5,3%
32Honda357.163144.13210,7%37,6%5,9%6,2%
43Geely334.574112.493-9,0%0,0%5,5%4,9%
56Changan309.150139.580-19,6%-15,2%5,1%6,0%
65Nissan277.781113.5585,5%8,1%4,6%4,9%
77Wuling258.971113.956-15,2%-9,2%4,3%4,9%
88Buick233.46882.647-18,4%-30,2%3,8%3,6%
911Haval206.03870.57015,1%20,7%3,4%3,1%
1013Mercedes187.04566.5720,5%9,5%3,1%2,9%
1116BMW168.03559.83715,8%25,1%2,8%2,6%
129Baojun160.69847.954-40,3%-57,8%2,6%2,1%
1314Audi146.65252.927-17,5%-23,6%2,4%2,3%
1412Dongfeng136.29239.078-46,9%-55,6%2,2%1,7%
1510Hyundai125.65658.090-32,2%-20,0%2,1%2,5%
1615Chevrolet125.47336.322-23,5%-41,0%2,1%1,6%
1718BYD115.63845.972-0,1%-2,9%1,9%2,0%
1819Roewe101.63232.843-18,8%-21,3%1,7%1,4%
1920Baic96.66060.029-25,2%8,4%1,6%2,6%
2023JAC93.35541.627-24,9%-25,6%1,5%1,8%
2122Chery93.07433.340-9,9%-15,3%1,5%1,4%
2224Kia82.50031.3030,2%15,5%1,4%1,4%
2326Foton80.78938.595-1,8%0,4%1,3%1,7%
2417Trumpchi78.76031.154-49,0%-47,8%1,3%1,3%
2529Cadillac61.90018.009-8,0%-5,3%1,0%0,8%
2621Ford60.78326.613-60,6%-58,3%1,0%1,2%
2733Isuzu56.06628.709-0,4%0,0%0,9%1,2%
2825Skoda54.21117.500-31,0%-28,0%0,9%0,8%
2927Mazda53.69922.187-31,8%-14,2%0,9%1,0%
3028MG53.57519.946-5,5%-0,9%0,9%0,9%
3132Lifan51.50213.350-14,9%-31,1%0,8%0,6%
3231JMC48.54025.9521,4%-0,5%0,8%1,1%
3334Lexus36.62414.3731,6%0,0%0,6%0,6%
3435Jinbei35.57413.49110,8%11,6%0,6%0,6%
3530Zotye35.12016.301-59,0%-54,0%0,6%0,7%
3636Mitsubishi34.04613.292-13,5%3,2%0,6%0,6%
3737Great Wall32.3309.344-2,4%-5,6%0,5%0,4%
3843Venucia30.72013.560-31,9%-6,4%0,5%0,6%
3945Lynk & Co28.9299.06554,8%6,6%0,5%0,4%
4042Volvo28.41610.668-1,8%6,8%0,5%0,5%
4167Jetour27.28610.1290,4%0,4%
4249CNHTC26.77811.4620,4%0,5%
4339WEY26.61910.247-38,0%-27,5%0,4%0,4%
4441Jeep24.7178.480-37,1%-48,1%0,4%0,4%
4544Hawtai23.47011.085151,3%66,8%0,4%0,5%
4648Maxus22.3827.203-19,5%-21,6%0,4%0,3%
4751Leopaard21.3605.609-26,6%-33,6%0,4%0,2%
4840Peugeot20.02110.439-58,3%-49,2%0,3%0,5%
4950Land Rover18.9328.926-40,4%-15,4%0,3%0,4%
5054Porsche17.2575.1239,8%0,0%0,3%0,2%
5160SWM15.1454.08165,9%23,2%0,2%0,2%
5279Traum14.9276.585241,7%408,5%0,2%0,3%
5386Bestune14.7733.5120,2%0,2%
5446Citroen14.7105.442-61,4%-63,3%0,2%0,2%
5574Hongqi11.6794.4960,2%0,2%
5638FAW11.4644.388-80,1%-76,3%0,2%0,2%
5755Hanteng11.3813.236-31,9%-36,1%0,2%0,1%
5858Lincoln11.2993.724-4,1%0,0%0,2%0,2%
5964ZX Auto10.8154.7170,0%0,0%0,2%0,2%
6053Brilliance9.9754.004-65,4%-74,0%0,2%0,2%
6159Change8.7004.599-13,0%-18,0%0,1%0,2%
6270Huanghai8.1803.0410,0%0,0%0,1%0,1%
6365Infiniti8.1274.018-3,4%5,8%0,1%0,2%
6452Soueast8.0022.592-78,5%-75,7%0,1%0,1%
6571Borgward7.9671.00014,7%-66,9%0,1%0,0%
6673Mini7.0222.47931,1%-0,1%0,1%0,1%
6762Suzuki6.8274.181-63,5%-40,9%0,1%0,2%
6876Shandong Kiama6.5512.8000,1%0,1%
69104Ora iQ6.5083.0290,1%0,1%
7061Renault6.2061.437-70,8%-76,8%0,1%0,1%
7166Jaguar6.1342.917-45,9%-20,7%0,1%0,1%
7268BAW6.0513.537-41,3%-10,0%0,1%0,2%
7372Jiangxi6.0072.1440,1%0,1%
7490Fengguang5.309-0,1%0,0%
7577Subaru5.1442.186-14,1%-0,2%0,1%0,1%
7695COS5.1251.0880,1%0,0%
7782Tesla4.7243.40012,4%0,0%0,1%0,1%
7878Cowin4.6052.01911,5%81,9%0,1%0,1%
7992Dorcen4.4561.0960,1%0,0%
8063Karry4.1021.832-70,6%-64,3%0,1%0,1%
8193Nio3.8131.3560,1%0,1%
8269Yema3.8041.013-50,4%-50,5%0,1%0,0%
8380Smart3.7061.920-18,6%0,0%0,1%0,1%
8481Landwind3.5998531,7%64,4%0,1%0,0%
8584Zhengzhou3.0569000,0%0,0%0,1%0,0%
8694Acura2.91592947,7%13,0%
8747Sichuan South Chun2.651-
8856Haima2.585626-89,0%-92,4%
89122Xpeng2.4551.2563047,4%4086,7%0,1%
9075Bisu2.177523-82,0%-86,1%
9187Maserati1.989737-27,2%0,0%
9291Iveco1.893590
9385Weichai1.888536-44,1%-48,8%
9498Changhe1.804566
95100Alfa Romeo1.69244947,6%
96110Lark1.137408
9783Zhi Dou1.135650-72,9%-78,4%
9857Qoros824192-92,8%-95,3%
9996Yudo763239-8,4%-13,4%
10088FQT730202-20,9%-53,0%
101105Bentley680269-11,3%0,0%
102103DS606153-23,5%-50,8%
103106Wichai582184-36,6%-43,6%
104101Beiqi5585000,0%0,0%
10589Luxgen349215-93,6%-93,8%
106108SsangYong299240-46,6%-0,8%
107113Rolls-Royce1944327,6%
108111Horki175164
109121Ferrari1343811,7%26,7%
110115Chrysler13137-14,4%
111119Aston Martin13050-8,5%
112107Denza123271437,5%
113120Ram8748-53,5%
114127Lamborghini818523,1%
115114Dodge53-87,8%-100,0%
116124GMC5118-20,3%0,0%
117123McLaren47834,3%0,0%
118125Lotus398178,6%0,0%
119123Fiat233
120128Alpina72
121112Huasong22
122129TechArt1--75,0%-100,0%

Rank
2019
Rank
2018
GroupSales
YTD 2019
Sales
March
March
YTD +/-
Mar
19 +/-
Share
YTD 2019
Share
March
11Volkswagen Group942.486340.101-13,1%-10,0%15,5%14,7%
22General Motors840.561298.906-23,0%-31,8%13,8%12,9%
34Toyota Group393.880136.5249,8%7,0%6,5%5,9%
43Geely Group391.958132.234-5,6%1,0%6,4%5,7%
56Honda Motor360.078145.06110,9%37,4%5,9%6,3%
65Renault Nissan Alliance326.160132.305-1,9%3,4%5,4%5,7%
78Changan315.412141.076-18,0%-14,3%5,2%6,1%
89Great Wall239.16583.8467,8%15,5%3,9%3,6%
97Hyundai-Kia208.15689.393-22,3%-10,3%3,4%3,9%
1010BAIC192.200106.760-17,2%3,2%3,2%4,6%

Rank
2019
Rank
F.Y. 2018
ModelsSales
YTD 2019
March
19
Sales
YTD +/-
March
19 +/-
11Volkswagen Lavida143.64849.76221,3%16,3%
22Nissan Sylphy113.90045.10022,3%19,7%
33Wuling Hongguang103.37641.108-31,0%-22,0%
44Haval H6101.89331.131-20,2%-18,8%
55Toyota Corolla86.50229.600-15,5%-12,1%
613Buick Excelle GT83.34425.96612,6%-34,2%
712Wuling Mini Truck75.06932.8480,0%0,0%
87Volkswagen Jetta67.94017.6831,5%48,8%
911Volkswagen Santana65.52623.457-12,1%-4,3%
1014Geely Boyue64.88322.367-10,6%2,0%
1124Chana Light Truck63.91342.3790,0%0,0%
1219Volkswagen Bora63.38823.380-18,1%-13,6%
1318Geely Emgrand EC761.83621.472-5,5%0,5%
1415Foton Light Truck59.90729.582
1522Honda Civic59.43821.08933,6%19,2%
1629Jac Light Truck58.01729.2910,0%0,0%
178Volkswagen Sagitar57.61525.280-31,0%-21,1%
18130Roewe Ei555.67218.1927697,2%2447,9%
1927Toyota Levin55.15618.38849,5%22,0%
2031Honda Accord52.87920.41214,9%47,4%
2116Chevrolet Cavalier52.84012.953-4,7%-44,6%
229Volkswagen Tiguan50.72718.910-34,2%-34,2%
2323Nissan X-Trail47.73323.6235,2%33,0%
246Baojun 51047.44214.263-64,5%-72,7%
2550Mercedes E Class45.24316.87516,7%38,2%
2630Volkswagen Passat44.96116.957-13,6%-6,2%
2758Changan CS3544.55014.5973,7%22,1%
2848Honda CR-V44.01919.92064,0%1724,2%
2926Wuling Hongguang V43.33525.000
3054Changan CS7541.62013.804-15,2%-9,6%

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