Market Overview:
The car market in January has drop by 16.9% compared with December due to there are 10 days being in the period of the Lunar New Year. The total registration number this month is 34,788 units, which is 14.4% lower YOY. In this month, Among the major brands, Toyota, Mercedes-Benz, BMW, Hyundai, and CMC had increased, and BMW has the biggest growth of 204.1%. However, Nissan, Ford, Honda, Mitsubishi, and Lexus had decreased, and Mitsubishi has the biggest drop of 39.9%. Even though the domestic economic growth is getting slower, and the supply chain hasn’t been recovered yet, but the supply chain might be more stable than last year, and the global chip shortage might be relieved, and the domestic epidemic control had been eased, which makes the private consumption raises, plus many brands have lots of orders waiting for deliveries, so the prediction of the whole market is 450,000 units, which is higher than the whole market of last year (430,000 units).
Market share of brands:
The market share performance of each brand this month is still led by Toyota/Lexus (39.4%). CMC/Mitsubishi and Mercedes-Benz are ranked at 2nd place by 7.2%, and Nissan/Infiniti ranked at 3rd place by 5.9%, and BMW ranked at 4th place by 5.4%, and Ford ranked at 5th place by 5.1%, and Honda ranked at 6th by 4.9%. Mercedes-Benz and BMW had significantly increased compared with last month.
Comparison between domestic cars and imported cars (excluding heavy duty trucks):
The sales ratio of domestic cars and imported cars is 54.5% vs. 44.1% this month. Domestic commercial cars have better sales ratio YOY, but in the supply chains are unstable, the sales ratio in the future depends on the supplies.
Outstanding models:
There are 8 models that had more than 1,000 units of sales this month… Corolla Cross (3,202 units), RAV4 (1,741 units), Corolla Altis (1,640 units), Town Ace (1,609 units), CR-V (1,209 units), Veryca (1,171 units), Yaris (1,044 units), Kicks (1,007 units). In the competition of light duty trucks, CMC Veryca was Toyota Town Ace defeated by (1,609 units vs. 1,171 units). After Town Ace Van went on sale on last December, the competition with Veryca is white-hot indeed.
BEVs market:
The delivery of BEVs is totaling 641 units this month, and Toyota bZ4X occupies 25.9% of market share. In addition, EV6 has been delivered for 98 units, Model 3 has been delivered for 65 units, EQE has been delivered for 59 units, Ioniq 5 has been delivered for 54 units, iX has been delivered for 51 units, Taycan has been delivered for 42 units, XC40 Recharge has been delivered for 41 units, both of EQB and EQA has been delivered for 30 units, e-tron has been delivered for 26 units, and other brands had deliveries also. Due to the unstable car supply of BEVs among carmakers, the situation in the upcoming months is worthy of attention.