Well, since you've asked I'll give my opinion for what it's worth. Many car makers are facing reduced profit this year yet gross profit was up slightly. That would indicate they decided to focus on margins rather than volume. Having negotiated that, it offers a chance to go forward with a stronger business structure as new models are released with emphasis placed on meeting demand rather than production targets.
I post data about China with reluctance, mainly because it doesn't paint a complete picture. Sales figures only state vehicles that are made there with imported models ignored. Individual manufacturers often release data with imported cars included but official figures eschew such information. This plus a high duty on imports to 'protect' local manufacturing indicates to me that imported goods are not really welcome.
So the list below doesn't include imported vehicles which will lower some imported brands figures, premium ones mainly, as they are less affected by the obstructive tariffs applied to imports. It's also a Top 50 list so any brands below that threshold are not shown. That keeps the list more manageable as there are a plethora of local brands vying with each other. As for colour coding, yellow is less market share, green more.
Chinese brands so far are definitely faring better in 2024 than foreign ones. Lack of quality used to mean local cars were not so sought after but there has been a real effort to improve in that area. Price could also be swinging buyers that way too. Not meeting changes in the market quickly enough has caught them out as well.
Things aren't so rosy for importers. As an example, GM's share of the market in China has fallen to its lowest level since 2003. It usually makes a profit here but for the first quarter of 2024, it lost just over $100 million. Buick has fallen to 22nd place and Chevrolet isn't in the top 50 anymore. Is GM thinking of exiting the market? They may not be alone in contemplating that.
VW's share is about half of what it was just five years ago. Over the same period, Škoda volume has crumbled to about 5% of what it was. Foreign brands are struggling and margins are being squeezed. Those such as VW that became too dependent on China for profit are now realising they put themselves in a vulnerable position. I could see it but...
Registrations for October were up 1% and 3% YTD. Local brand Dacia is well ahead of any other although it has lost some market share. Toyota reached its best ever market share as it consolidated second spot while Renault bounced up in 2023 and back down this year.
Some popular models were the Dacia Logan (12,847), Dacia Duster (picture above - 12,173), Dacia Sandero (6,783), Škoda Octavia (3,461), Toyota Corolla (3,363), Dacia Jogger (3,091) and Hyundai Tucson (3,053).
Data source: DGPCI. Picture: Dacia.
