UK Vehicle Production : 2024 (Jan-Mar)

The global car markets had been underserviced by stock for some time with COVID and supply issues so pent up demand meant that production was strong. That seems to have been sated and volume is slipping. Prices hav also been climbing as demand exceeded supply. Are prices now going to soften to keep factories busy? 

Passenger car production in the UK fell 27% in March but thanks to a good first two months numbers were still up 1%. One could expect that 2024 will not be the equal of the year before.  

Commercial vehicle volume was -19% in March but still up 27.4% YTD. Production for the home market has taken a battering, -28% in March and -13% YTD. Exports were -13% In March but up an impressive 58% YTD.

Put it all together and it mirrors the passenger car data due to the overwhelmingly greater volume that is involved. The numbers aren't flash but considering the apathy within the UK for its motor vehicle industry hardly surprising.  

With two manufacturers providing sales figures each month, they are listed here. Nissan accounted for 32% of the total and Toyota 13%. I appreciate their openness. 

Data source: SMMT, manufacturers.

Singapore Passenger Car Sales : Q1 2024

Registrations were up 42% in March and 26% YTD. With the artificial way in which car sales are handled here, the ups and downs tell us little other than how many certificates were available at any given time. 

We can learn more when looking at brands. Toyota / Lexus combination leads although if separated it would be Mercedes-Benz in front. BYD has come from nowhere to third, elbowing BMW out of the way in the process, despite the latter doing well.

As for changes, the Toyota / Lexus market share is the lowest since 2013, BMW the highest since that year ironically. Nissan's share is the best since 2017 but Audi is currently residing at its lowest point going back to 2008. It's also of note that for 2024, Rolls Royce registrations are down 73% on last year's complete 2023, Bentley 55% lower and Ferrari off 77%. 

While all the variances above are not what one would normally see, in a market that is controlled with a limited certificate system, not all that surprising. 

Data source: LTA. 

Korea Passenger Car/LCV Sales : Q1 2024

Apart from some high ticket brands, the data below covers the vast majority of sales. The total market and imports are both down 12% YTD. As a market that heavily favours locally made - both with steep import duty and occasionally other means - it is dominated by a few domestic brands. Kia for now leads but has an ongoing lead change dogfight with Hyundai. 

Hyundai's premium marque Genesis is doing well while KG Mobility (formerly SsangYong) moved into fifth place courtesy of a fast falling Mercedes-Benz. Chevrolet is mainly locally made vehicles and Renault Korea was formerly known as Samsung. 

Imports lost two more marques for 2024 in the form of Jaguar and DS. The way some of the brands at the lower end of the list are faring, there may be more to follow. 

Data source: Kaida, Kama.