Market Trend and Outlook

The Chinese economy is on track to meet the government’s 2023 growth target, reflecting a strong post-COVID recovery. Real GDP is projected to grow by 5.4 percent in 2023 and slow to 4.6 percent in 2024 amid continued weakness in the property sector and subdued external demand.

China’s credit-fueled growth in recent years was accompanied by widening imbalances and rising vulnerabilities. Excessively high household savings were used to finance infrastructure and residential investment with diminishing returns, resulting in elevated debt levels.

The Chinese auto market has shown signs of slower growth in 2023, with YTD figures at 17.80 million down 2.3% from the previous year. In October 2023 sales grew 9.7% after falling for 4 consecutive months, reporting 2.08 million new sales.

Looking at cumulative data up to October 2023, brand-wise the Chinese EV manufacturer BYD becomes the leader for the first time with 2.04 million sales (+52.6%), followed by the Volkswagen -down 1 spot- in 2nd at 1.77 million (-6.3%).

Toyota falls 1 spot into 3rd with 1.42 million sales  (-6.8%), followed by Honda with 959,669 registrations (-18.2%), Changan with 932,498 sales (+7.4%) and Geely with 794,676 units sold (+8.2%).

In 7th place ranks BMW with 651,207 sales (+4.4%), followed by Mercedes -up 1 spot– with 614,016 (+0.2%), Audi -up 4 spots- with 575,192 (+8.7%) and Wuling closing the Top 10 with 544,021 sales (-9.2%).

Best selling models in China are the BYD Qin PLUS in 1st -up 6 spots- with 355,017 sales (+36.7%) and the Tesla Model Y in 2nd -up 3 spots- with 346,462 cumulative units sold (+20.9%).

Medium-Term Market Trend

The Chinese vehicle market is the largest in the world and in the last decade it has maintained an overall positive trend. Starting from 14.0 million sales in 2011 the Chinese light vehicle market grew 7 years in a row reaching an all time high in 2017 with 25.6 million registrations. The following 2 years were both negative taking the market sales to 22.5 million in 2019.

The arrival of the pandemic in 2020 blocked the world economy making demand for cars fall world wide. The Chinese market stood its ground dropping only 5.9%, a smaller fall compared to 2019 (-7.6%), taking sales down to 21.2 million.

Post-covid the Chinese vehicle market recovered immediately with sales rising 4.0% in 2021 and 1.0% in 2022. Despite the overall trend in 2022 being positive, the last 3 months all reported losses, a negative trend that will probably continue into 2023.

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models.

Dutch Auto Market in October 2023 falls 2.3% following 9 consecutive positive months, reporting 28,230 new sales (-2.3%). YTD figures at 314,676 are up 24.4% from the previous year. Volkswagen becomes the market new leader, rising 47.3%.

Market Trend and Outlook

The Dutch auto market in October 2023 falls for 2.3% following 9 consecutive growths, reporting 28,230 new sales. YTD figures at 314,676 are up 24.4% from the previous year.

Looking at cumulative data up to October 2023, brand-wise Volkswagen rises 1 spot into 1st with 29,862 sales (+47.3%), followed by Kia at 28,688 (+12.0%), Toyota at 21,395 (+7.3%) and  Peugeot at 18,625 new registrations (+0.8%). 

Renault rises 3 spots into 5th with 17,253 sales (+37.0%), followed by Skoda at 17,184 (+33.8%) and Hyundai with 16,909 units sold (+15.0%).

BMW falls 2 spots into 8th position with 16,725 new sales (+17.7%), in front of Tesla -up 16 spot- at 14,924 (+648.1%) and Opel in 10th with 12,819 units sold (+25.2%).

Looking at specific models the Tesla Model Y becomes the new best selling car, rising 67 spots from the previous year with a 644.7% increase in sales. The Kia Picanto follows in second with a 52.7% year-on-year growth.

Medium-Term Market Trend

The Dutch Auto market presented many ups and downs in the past 12 years. It started in 2011 at 578k sales, the highest level of all the following years. A 3 year downtrend took sales to 384k in 2014 with  2015 and 2016 alternating trends, +18.1% and -16.2%, respectively.  From 2017 to 2019 car passenger sales grew overall despite the growth getting smaller each year.

The arrival of the pandemic shook the world markets and the dutch one was no exception, reaching the lowest level of the decade at 355k registrations (-19.9%).

It is clear that the fall of the pandemic has scarred the Dutch auto market. In fact, the market collapse continued through 2021 into 2022, with this past year totaling 311,429 sales, a 3.2% decrease compared to the prior one.

Although Europe is an important center for EV manufacturing, Germany in particular, the production costs haven’t been able to meet with the consumers willingness to pay, with the average cost of new BEVs at euro 55,821. Lack of raw materials and elevated costs for micro-chip production also pose a threat for the Dutch car passenger market, that is already having to confront higher prices and longer waiting times, pushing lower income consumers into the second hand market. These factors will continue to put negative pressure on sales going into 2023.

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models

Market Trend and Outlook

Chinese industry is one of the most affected by disruption created in the country by the “Zero Covid” strategy, which forced millions people and workers into shutdown in all the main metropolitan regions this year, with production lost both in components and vehicles amd with showrooms frequently waste of products and clients.

However, the strong demand focused on new electric vehicles, sustained the domestic market, which was more resilient than many other industries.

The Chinese auto market in 2022 shows resilience despite the strong covid regulations,  totaling 22.15 million sales, a 1.0% increase compared to the prior year. In December new registrations fell for the 3rd month in a row, reporting 2.24 million (-8.2%)

Looking at cumulative data from 2022, brand-wise the leader is still Volkswagen with 2.30 million sales (+5.5%), followed by Toyota in 2nd at 1.86 million (+10.8%).

The Chinese manufacturer BYD moves up 11 spots into 3rd with 1.76 million sales  (+157.1%) and is the real winner this year.

In fourth place stands Honda at 1.39 million (-9.0%) followed by Changan at 1.10 (+13.1%) and Geely with 892,047 (-16.8%).

In 7th place ranks Chery with 871,956 (+1.5%) followed by Nissan with 821,408 (-17.9%), BMW with 755,487 (-7.6%) and Mercedes closing the Top 10 with 739,790 sales (-0.2%).

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models.

Dutch Auto Market closes 2022 3.2% lower than the previous year, totaling 311,429 sales. December reports 30,841 new registrations (-13.4%). Hyundai up 26.9%.

Market Trend and Outlook

In December 2022 the momentum built up in the Dutch auto market in the previous 4 months slows down, with 30,841 new car sales (-13.4%). Cumulative data from 2022 totals 311,429 car registrations, a 3.2% decrease from the prior year.

Looking at comprehensive data from 2022, brand-wise Kia moves into 1st with 30,115 (+0.2%), followed by Volkswagen with 26,174 (-15.9%), Toyota with 25,400 (+10.3%) and  Peugeot with 21,327 sales (+3.6%). 

BMW with 17,414 (-7.3%) moves up 1 spot into 5th, followed by Hyundai -up 5 spots- with 17,144 (+26.9%) and Renault with 16,587 sales (+1.3%).

Skoda drops 3 spots into 8th with 15,050 (-26.1%), preceding Audi at 13,890 (+9.9%) and Opel with 13,515 (-12.1%).

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models

Market Trend

The Chinese car market this year kept recovering effectively, but reported positive performance only in Q1, with the sharpest drop reported in Q3.

The market has slowed down since 2016, after having achieved 30% of global sales. The future evolution is clearly driven more by real solutions regarding the two main issues created by the last decade’s market boom: pollution, and traffic congestion.

The Chinese government has shifted its attention from total volume to engine mix and is progressively creating incentives for 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 engine displacements over 1.6 liters (from 5% to 7.5%). During 2017, sales have been 28.2 million, up 0.9%.

However, in 2018, new light-vehicle sales have progressively lost steam, following the deceleration of the domestic consumer demand. Indeed, The market interrupted the positive trend of recent years losing for the first time since the ’90s and closing 2018 with 27.5 million units sold (-3.7%). In 2019 the Full-year ended at 25.7 million, down 6.5% from the previous year

Due to the COVID-19 pandemic sales fell in  2020. In fact, 24,730,045 units have been sold, reporting a decline of 4.1% compared to 2019.

In 2021 the year started extremely positively for the Chinese market due to extremely low sales levels in Q1 2020, in fact, in Q1 6.03 million units have been sold, reporting a 61.7% increase in sales, while in Q2 sales remained almost flat, reporting a 1.3% decrease in sales with 6.12 million units.

In Q3 sales dropped quickly, losing 14.2% sales with 5.82 million units, and lost 5.5% in Q4 with 7.69 million sales.

Indeed, Full-Year sales for 2021 have been 25.65 million, reporting a 3.2% increase compared to 2020.

Brand-wise, this year the leader Volkswagen (-17.6%) lost 2% market share and registered the worst performance in the leaderboard, followed by Toyota (+4.5%), which gained 0.2% share. Wuling gained 1.5% share, increasing sales by 34.3%, reporting the best performance.  Honda fell in 4th place while losing 6.7%, followed by Changan which gained 10.1%.

Geely reached 6th place by losing 7.6%, followed by Nissan (-12.5%) -down 3 spots- and Buick which lost 10.5% sales. Closing the leaderboard we have BMW -up 2 spots- reporting the best performance in the leaderboard by gaining 6.7% and Mercedes -down 1 spot-, losing 3.4%.

The most sold vehicle this year has been the Nissan Sylphy (-7.8%) with 500,150 units sold, followed by the Wuling Mini Truck, which lost 1.5% registering 494,412 new sales this year. The Wuling Hongguang Mini EV (+257.6%) closes the podium and reports 426,484 new units sold.

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models.

Dutch car market in 2021 falls 8.9% with 324,710 sales, reporting double-digit drops all year except Q2. Leader Volkswagen reports the worst performance, losing 30.3%, while Opel drops in 10th place.

Market Trend

The Dutch car market this year attempted to recover from the pandemic crash of 2020 and reported a positive performance only in Q2 due to the very low sales of Q2 2020, all other quarters were down in double-digits.

Dutch vehicles market in recent years has been influenced by a series of incentives introduced to support the fast development of the Alternative Vehicles Fuel (AVF) which has been an unusual short-term view boosting the market when applied and depressing the market when ended.

Consequently, the annual sales trend was full of rapid growth and fast decline. Looking at the period 2010-2018, the market has lost near 30,000 units, from 477,000 (2010) to 441,000 (2018) with a negative peak of 385,000 in 2016 and a positive peak of 555,000 in 2011. In 2019, the market registered a flat trend, with 450,277 units sold.

Due to the COVID-19 pandemic sales fell in  2020. In fact, sales have been 357,414, reporting a decline of 20.6% compared to 2019.

In 2021 the year started negatively for the Dutch market, in fact, in Q1 81,241 units have been sold, reporting a 21.2% decrease in sales compared to Q1 2020, while in Q2 sales started growing again, reporting a 50.7% increase with 82,765 units sold.

In Q3 sales started falling in double-digits again, losing 18.6% sales with 73,423 units, and in Q4 sales were still dropping 19.3% with 87,281 units.

Indeed, Full-Year sales for 2021 have been 324,710, reporting a 8.9% decrease compared to 2020.

Brand-wise, the leader Volkswagen (-30.3%) reported the worst performance and lost 2.9% market share, followed by the growing Kia (+12%), which gained 1.8% share as well, and by Toyota -up 1 spot- which gained 0.7% share, gaining 0.7%. Peugeot (-14.2%) fell in 4th place, followed by Skoda which rose 4 spots and gained 22.5%, reporting the best performance.

BMW gained 4.3% and rose 2 spots, followed by Ford (-5.4%) and Renault which fell 2 spots and lost 19.6% sales. Closing the leaderboard we have Volvo -up 1 spot- losing 1.2% this year and Opel dropping 5 spots and losing 24.7%.

The most sold vehicle this year is the Kia Niro (-9.1%) with 10,810 units sold, followed by the Volvo XC40, which sold 8,454 units this year (-0.3%). The Volkswagen Polo (-10.7%) closes the podium by jumping 1 spot and reports 8,032 new units sold.

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models

Market Trend

The Chinese car market has been hit slightly in 2020 despite the world-wide COVID-19 pandemic, which has impacted sales everywhere in the world.

The market has slowed down since 2016, after having achieved 30% of global sales. The future evolution is clearly driven more by real solutions regarding the two main issues created by the last decade’s market boom: pollution, and traffic congestion.

The Chinese government has shifted its attention from total volume to engine mix and is progressively creating incentives for 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 engine displacements over 1.6 liters (from 5% to 7.5%). During 2017, sales have been 28.2 million, up 0.9%.

However, in 2018, new light-vehicle sales have progressively lost steam, following the deceleration of the domestic consumer demand. Indeed, The market interrupted the positive trend of recent years losing for the first time since the ’90s and closing 2018 with 27.5 million units sold (-3.7%). In 2019 the Full-year ended at 25.7 million, down 6.5% from the previous year

After starting the year negatively (-18.8%), the market quickly collapsed in February as the virus started spreading well before any other country. The sharpest drop in sales this year was in fact February when sales declined by 77.3% due to heavy restrictions. The market recovered quickly and started growing again in May (+6%).

The second half of the year has been entirely positive, in fact, every month reported positive sales, with July (+10.1%), October (+11.3%) and November (+13.5%) up in double-digits.

Indeed, Full-Year sales for 2020 have been 24.730.045, reporting a decline of 4.1% compared to 2019.

Brand-wise, this year the leader Volkswagen (-16.2%) lost 1.5% market share and registered the worst performance in the leaderboard, followed by Honda (+4.7%), which gained 0.6% share. Toyota gained 0.7% share, increasing sales by 7.7%.  Nissan reached 4th place while losing 4.1%, followed by ChangAn -up 1 spot- which gained 4.4%.

Geely fell in 6th place by losing 6.8%, followed by Wuling (+7.9%) and Buick which gained 7% sales. Closing the leaderboard we have Mercedes -up 2 spots- reporting the best performance in the leaderboard by gaining 10% and Dongfeng -down 1 spot-, losing 7.4%.

The most sold vehicle this year has been the Nissan Sylphy (+15.2%) with 542.725 units sold and jumped 1 spot, followed by the Wuling Mini Truck, which gained 14.2% registering 477.569 new sales this year. The Volkswagen Lavida (-21.3%) closes the podium by falling 2 spots and reports 419.793 new units sold.

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models.

Dutch auto market in 2020 falls by 20.6% as the pandemic and lockdowns affect sales. Full-Year sales have been 357.414, while Kia shines by entering the podium and jumping 6 spots (+1.9% share).

Market Trend

The Dutch car market fell significantly in 2020 as the global pandemic has impacted sales. Only 2 months have been positive the past year and by very small margins.

Dutch vehicles market in recent years has been influenced by a series of incentives introduced to support the fast development of the Alternative Vehicles Fuel (AVF) which has been an unusual short-term view boosting the market when applied and depressing the market when ended.

Consequently, the annual sales trend was full of rapid growth and fast decline. Looking at the period 2010-2018, the market has lost near 30.000 units, from 477.000 (2010) to 441.000 (2018) with a negative peak of 385.000 in 2016 and a positive peak of 555.000 in 2011. In 2019, the market registered a flat trend, with 450.277 units sold.

After starting the year with a slight negative trend (-7.1%), the market quickly collapsed in March as the virus struck. The sharpest drop in sales this year was in May when sales declined by 59.5% as the entire country was put in a complete lockdown the last week of March, following the decision taken by Germany. The second half of the year remained mostly negative with August and September registering double-digit losses.

Indeed, Full-Year sales for 2020 have been 357.414, reporting a decline of 20.6% compared to 2019.

Brand-wise, the leader Volkswagen (-5.8%) gained 1.9% market share, followed by the growing Kia (+6.1%), which jumped 6 spots and gained 1.9% share as well, and by Peugeot -up 1 spot- which gained 0.2% share, falling 18.2%. Toyota (+15.8%) reached 4th place by jumping 1 spot, followed by Opel which on the other hand registered the worst performance, falling 36.8% and losing 3 spots.

Renault lost 22.3%, followed by Ford (-23.3%) and BMW which gained 1 spot and lost 18.7% sales. Closing the leaderboard we have Skoda -up 2 spots- losing 11.1% this year and Volvo entering the leaderboard by jumping 3 spots, falling only 0.9% this year.

The most sold vehicle this year is the Kia Niro (+28.7%), jumping 4 spots with 11.886 units sold, followed by the new Volkswagen ID.3, which sold 10.965 units this year. The Hyundai Koda (+51.2%) closes the podium by jumping 9 spots and reports 10.823 new units sold.

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models

Economic Environment

Chinese economic growth momentum remains weak. Industrial production was subdued in October, as the trade war with the U.S eroded manufacturing activities. This trend is expected to continue in the coming months as corroborated by a new drop in exports in November.

Moreover, mounting economic uncertainty is postponing investment plans, especially among foreign firms.

Meanwhile, on 13 December, President Trump agreed to a limited trade deal with China, effectively barring a fresh round of tariffs due on 15 December. As part of the deal, U.S. officials stated that China will purchase more U.S. agricultural products, while the U.S. will remove some existing tariffs in return.

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, new light vehicles sales (including both domestic produced and import) have progressively lost steam, following the deceleration of the domestic consumer demand. Indeed, The market interrupted the positive trend of recent years losing for the first time since ’90s and closing the 2018 with 27.5 million units sold (-3.7%).

In 2019, according to the data released by the Chinese Association of Automobile Manufacturers, the market worsened. Indeed, the Full-year ended at 25.5 million, down 7.2% from the previous year.

In the competitive arena, Volkswagen held the crown with 12.2% of market share, thanks also to the Lavida, which is currently the country’s best-selling car. With almost half of Volkswagen’s share, Honda, in second position, ended at 6.3%.

Toyota – overtaking Geely – takes the third position, improving 8.8% from the previous year. Geely – ending at 5% of market share – declined by 7.6%.

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models

Dutch Auto Market in 2019 was stable. Indeed Total annual sales have been 444.093 up 0.6%, completing a last-minute recovery with December almost doubling its sales. Second in the World (after Norway), the country celebrates the leadership of a Tesla, the model 3, which is the best-selling model boosting the brand market share at 7%.

Economic Environment

Dutch economy expanded at twice the average speed of the Euro area in the third quarter on the back of robust private and public outlays as well as a positive contribution from the external sector. Household consumption has benefited from a tight labor market feeding through to higher wages and, boding well for private consumption ahead, the unemployment rate remained low at the start of the fourth quarter.

Furthermore, exports grew robustly in October over the prior month while the merchandise trade surplus widened. Less positively, industrial output growth was flat in October over the prior month and the manufacturing PMI fell into contractionary territory for the first time in six years in November, boding ill for output.

Market Trend

Dutch vehicles market in recent years has influenced by a series of incentives scheme introduced to support the fast development of the Alternative Vehicles Fuel (AVF) which have been an unusual short-term view boosting the market when applied and depressing the market when ended.

Consequently the annual sales trend was full of rapid growth and fast decline. Looking at the period 2010-2018, the market has lost near 30.000 units, from 477.000 (2010) to 441.000 (2018) with a negative peak of 385.000 in the 2016 and a positive peak of 555.000 in the 2011.

According to data released by the RAI Vereeniging, the Dutch Association of Car Manufacturers, in 2019 the car passenger’s market ended with a flat trend. Indeed Total annual sales have been 444.093 up 0.6%, completing a last-minute recovery with December almost doubling its sales.

The market is relatively low concentrated with the top 10 brands holding 64% of the total and the leader, Volkswagen only at 10.8%. The fact of the year is represented by the huge success of Tesla, which reached 7% of market share thanks to the success of the new Model3, which is the best-selling car.

Tables with sales figures

In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models