![]() The Emgrand GL (+78%) helps Geely post a 26th consecutive double-digit gain. Changan (-9%) is now threatened by Baojun for the title of #2 Chinese brand YTD. Hyundai (+71%) continues to erase its paltry scores of 2017 hampered by China-Korea tensions just as Kia (+80%) does further down and Chevrolet (+53%) compensates for the weakness of Buick (-10%) thanks to stunning sales of its low-cost Cavalier sedan (+160%) accounting for 38% of the brand’s sales in China this month. Honda (-4%) drops one spot on April to #4 but remains well above the 100.000 unit-mark with Nissan up 13% to a strong showing at 97.309, Baojun slowing down its growth at +16% as the 310 stabilises, the 530 cannibalises the 510 and the 730 freefalls with the arrival of the 360 (more details in our upcoming Focus on all-new models). YTD sales are up 37% to above 600.000 units, keeping the #2 spot.Īt #3, the Toyota Corolla makes the podium 100% sedan for the first time in 5 years. This ends Geely’s streak of seven consecutive months in second place at home, but the carmaker’s most impressive streaks aren’t broken: at +49% year-on-year to 113.834 sales, it’s Geely’s 26th consecutuve month of double-digit gains and 9th month in a row above 100.000 sales. Toyota soars 23%, enjoying the combined benefits of a new generation Camry (+95%) and a very dynamic Levin (+150%) to jump four spots to #2 overall, a ranking it had not reached in almost 3 years (since July 2015). Except even more vigorous growth over the remainder of 2018 as the T-Roc hits dealerships in June. The Nissan Sylphy ranks #2 overall for the 2nd time in a row.īrand-wise, keeping in mind these figures are wholesales excluding imports, market leader Volkswagen posts another very robust month at +8% to just under 248.000 sales, still more than double any other carmaker in the largest market in the world, an outstanding feat. Of course the May surprises are not enough to dent the longer-term trends just yet, and YTD sedans are now up 4.7% to 4.730.600, SUVs up almost three times that rate at 11.6% to 4.415.700, MPVs down 10.4% to 752.700 and microvans down 30% to 190.800. In other words, SUVs lose market share year-on-year in May for the first time in 6 years. It’s a very unusual month that also sees microvans bottom up (+1.7%) to 49.000 units whereas MPV post a somewhat muted 7.1% decline to 139.100. Let’s not overreact, but the facts are here: for the first time since 2012 and the start of the SUV tsunami that has engulfed the country, sedans grow faster this month at +12% to 940.100 whereas SUV “only” manage a 6.5% gain to 761.300 which is below the market growth. May 2018 may be remembered as the turning point where the SUV segment in China has become saturated. That’s higher than the CAAM prediction of +3% for the Full Year 2018. * See the Top 80 All China-made brands and Top 445 models by clicking on the title *Īccording to the China Association of Automobile Manufacturers (CAAM), wholesales of new light vehicles in China gain a solid 7.9% year-on-year in May to 1.889.500, lifting the year-to-date volume up 5.1% or almost 500.000 deliveries to a record 9.900.900 units. Central banks around the world, they explained, aren't likely to cut benchmark rates anytime soon, which will keep upward pressure on mortgage payments.The VW Lavida is the best-selling vehicle in China for the 2nd month running. ![]() In a July report, Moody's strategists said they expect high mortgage rates to weigh on prospective buyers and homeowners looking to refinance for years to come. Even after 10 consecutive rate hikes from the Federal Reserve, and likely more to come, a lack of affordability and low housing inventory have sidelined buyers and made current owners reluctant to move. Chicago, Cleveland, and New York saw the steepest year-over-year price growth, at 4.6%, 3.9%, and 3.5%, respectively.Ĭonventional wisdom suggests that prices would fall as interest rates move higher, but a mismatch between supply and demand has kept price swings muted. ![]() Measured annually, there was an even split among the top metros, with 10 cities seeing higher prices and 10 seeing lower prices. But the breadth and strength of May's report are consistent with an optimistic view of future months." ![]() "Granted, the last four months' price gains could be truncated by increases in mortgage rates or by general economic weakness. Lazzara, Managing Director at S&P DJI, said. "Home prices in the US began to fall after June 2022, and May's data bolster the case that the final month of the decline was January 2023," Craig J. ![]()
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