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China 2020. Toyota is the best performer in a recovering market

Chinese Auto Market is recovering after the huge fall reported in the first quarter 2020 and following a -10% in April, finally in May the year-on-year data grew up in double digit. Volkswagen Group, market leader and heavy penalized in Q1 is recovering, while Toyota is the best performer this year, with YTD sales down only 14%.Medium term market directionChinese 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. IIn 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%.Post Covid19 Market TrendThe Covid-19 pandemic first manifested cases were in Wuhan, the capital of Hubei, China. Delayed and controversial responses by the Wuhan and Hubei authorities failed to contain the outbreak in the early stage and by January 29, the virus spread to all provinces of mainland China.As a result, after having started negatively the new year with a 20% decline in January, the effects of the shutdown in China on the car market – due to the COVID-19 outbreak – were clearly reflected in February’s performance (-76.2%).In March, while the Coronavirus was spreading all around the World, the Chinese car market was already bouncing back.According to the data released by the Chinese Association of Automobile Manufacturers, registrations fell 35.5% in March with 1.505.256 units sold, ending the first quarter at 3.763.485 (-39.3%).In April light vehicles sales were 1.74 million, down 10.9%, while preliminary data on May reports a market up a robust 14%.Tables with sales figuresIn the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models This content is for members only. Visit the site and log in/register to read.

Thursday January 01, 1970