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.

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.

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.

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.

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

Buick Global Performance in recent years has definitely grown faster than global industry but in the 2018 sales fell down 11.5% at 1.3 million. However, the brand was able to contain the lost, thanks to the high dependency from the US market. In the recently published study, focus2move team projects volumes at 1.6 million by the 2025.

Buick ranks 20th in the Global brand ranking, being one of the fastest growing brands in the 2010-2018 period of time.

Buick is the General Motors’ second largest brand, just a few units ahead of Wuling. Buick primarily operates in Asia, counting over 80% of its sales. Indeed, the Top market is China, which has lost 13.1% in the 2018.

In the 2018 Buick has sold 1.3 million light vehicles in the World, losing 11.5% from the previous year.

Since the 2010 the brand sales grew up 61% with a CAGR of 7.6%. During the same frame of time, global light vehicles market grew up from 73.7 millions to 94.3 million with a global CAGR of 3.5%. So Buick has sharply increased its market share in this period. According to our study, in the period 2019-2025 Buick will boost sales at 1.6 million units.

Tracking all brands sales across the World – with a current coverage of 150 markets – the Focus2move Research Team has analyzed in detail the growth of Buick in the World since 2010, reporting in the just updated market research “Buick Global Sales Performance 2010-2025” all sales broken down by region, country and model.

In addition they have projected the development of the brand sales up to 2025 taking under consideration both the single market development forecast and the brand plans in terms of line up and growth.

The result has been a unique in the World, research, offered at the huge value of €750, available for direct purchase on this web site.

Economic Environment

Chinese economic growth slowed again in the fourth quarter as spillovers from both financial deleveraging earlier in the year and the trade spat between China and the United States continue to weigh on economic activity.

Although policy easing is preventing the economy from decelerating sharply and the slowdown appears to be manageable for now, risks are mounting.

Economic growth will remain lackluster this year on the back of moderating domestic growth amid trade tensions between China and the U.S. Although authorities will rely on fiscal and monetary policy support to avoid any sharp slowdown, the scale of the policy stimulus will be rather limited compared to previous initiatives.

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, 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 been 28.2 million, up 0.9%.

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

Competitive Arena

The 2018 market leader was Volkswagen, ending with over the double sales than the second with 3.1 million vehicles (-0.4%) and 11.7% of market share.

At the end of an amazing run Honda has taken the second place with actual figures at 1.45 million units (+2.4%).

In third place Geely with 1.37 million (+10.0%) few units ahead of Toyota with 1.37 million (+13.5%).

In fifth place Nissan with 1.23 million units (+7.7%) followed by Changan with 1.15 million (-17.0%), Wuling with 1.1 million (-1.2%), Buick with 1.06 million (-13.1%), Baojun with 879.077 (-13.9%) and in 10th place by Hyundai with 802.000 (-3.9%).

At model-wise, pushed up by new generation launch, the Volkswagen Lavida recovered the leadership since June with the launch of last generation and established itself on top of the 2018 list with 503.825 (-2.6%) sales ahead the Nissan Sylphy able to escalate the ranking up to the second place with 481.216 (+18.9%) and the Wuling Hongguang with 476.538 (-10.5%).

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

Tables with sales figures

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

Buick Global Performance in the 2017 has been flat from the previous year. Indeed the brand was able to contain the lost, due to the high dependency from the US market. The best-selling model was the Excelle.

Following the remarkable performance scored in the period 2010-2016, in the 2017 Buick has lost 2.6% of global sales with 1.448.000 units registered.

Sales fell in all regions with Asia (China) down 2.3%, Latin America down 18.5% and North America down 4.2%.

At model wise, the best model was the new Excelle with 421.000 sales followed by the Envision with 281.000 and the Verano with 191.000.

Global Automotive Database

Based on the over 750 millions vehicles sales downloaded within of GAD (Global Auto Database) collected and aggregated by hundreds selected sources covering over 140 vehicles markets worldwide, our “Brand Performance Reports” refer to registrations data.

Buick Global Performance Report

In the period 2010-2017 Buick has scored a remarkable performance at global sales, growing from 0.8 million sales in the 2010 to 1.48 million in the 2016, performing a Compound annual growth rate (C.A.G.R) of 14.1%, while the industry CAGR in the period was +4.6%.

In this period, Buick has gained 9 steps within the Global Car Brands Ranking landing in the 16th place.

Sales split at regional level confirmed in the 2017 the supremacy of the Asia region counting the 83.0% of total sales (it was 77.7% in the 2010) while the American sales represent the 17.0% (from 20.4%).

In our report we figure out this brand’s sales data in 18 different countries, with forecast up to the 2022.

On top of all, in the 2016 there was China with 83.0% of global sales share (from 79.4% in the 2010), ahead of USA with 15.4% (from 19.3%), Canada with 1.3% (from 1.0%), Mexico with 0.2% and Panama with 0.1%.

Please click on the product figure to see the Contents details.

Chinese economy showed its strength once again and posted another solid reading for the quarter. GDP expanded 6.8% annually in Q4, matching Q3’s result and leading the economy to rise a strong 6.9% in the full year 2017.

While resilient private consumption and service activities continued to drive growth in Q4, the economy greatly benefited from strong global demand. Conversely, investment growth continued to moderate in Q4 amid the government’s efforts to curb pollution and overcapacity in certain industries.

Chinese domestic vehicles market in the 2016 has finally reduced the growing speed, while achieving a mix on global market of 30%. 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, according to the data released by the C.A.A.M., (China Association of Automobile Manufacturers) new light vehicles sales have been 28.2 million, up 0.9%.

At brand-wise, the leader was Volkswagen, with 3.18 million units (+5.2%) ahead of two brands fighting head-to-head for the second place Honda with 1.453.118 (+18.1%) and ChangAn with 1.441.165 (+3.6%.

Thanks to sales increase by 60%, Geely advanced in fourth place with 1.244.129 sales (+60.5%) and overtook several brands, including Buick actually fifth with 1.206.000 (-2.3%) and Toyota, sixth with 1.200.000 (+3.0%).

In seventh place Wuling, penalized by the decline of commercial vehicles segment, with 1.172.000 sales (-14.4%).

Nissan ranks eight with 1.124.000 units (+10.7%) ahead of Baojun with 1.015.000, +33.6% and in 10th place Ford with 931.000 (-11.3%).

At model-wise, after an amazing battle for the leadership, the Wuling Hongguang prevailed with 532.000 (-18.2%) over the Volkswagen Lavida, second with 517.000 (-5.7%).  In third place the Haval H6 with 505.000 (-12.9%).

The Top 100 models ranking special report is available here.

Tables with sales figures

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

The Chinese light vehicles market in the 2016 is booming running toward a superb new all time record mainly thanks to a strong acceleration reported since July.

Any month new models are launched in market and the list of model on sales is now over the 600, with several new entrance in the top 100 hot list.

In this dynamic environment, the best-selling model is the Chinese Wuling Hongguang that in the year reported sales for 650.000 units (-0.8%) ahead of the fast growing  Haval H6 with 580.000 (+55.6%) and the Volkswagen Lavida with 548.000 units (+16.0%).

In fourth place the Hyundai Elantra with 410.000 sales (+27.2%) followed by the Buick Excelle GT, up 3 spots, with 370.000 (+27.8%), the Baojun 730 with 370.000 (+15.3%) and the Nissan Silphy with 367.000 (+10.1%).

In eight place the Toyota Corolla with 354.000 (+8.6%) followed by the Volkswagen Jetta, up 3 spots, with 348.000 (+26.7%) and in 10th place the Volkswagen Sagitar with 341.000 (+22.0%).

Looking down through our top 100 list, you could see the great performances scored by the Buick Verano, the Hyundai Tucson and the Jeep Cherokee.

Tables with sales figures

In the tables below we report sales for the top 100 Models