Russian automotive market slump continues; recovery not expected until 2017

GM to idle plant while other OEMs cut back production

2015/05/11

Summary

Vehicle production and sales in Russia Russian vehicle sales in 2014 fell 10.3% year-on-year (y/y) to 2.49 million units (excluding heavy-duty commercial vehicles) due to the stagnant economy caused by falling oil prices and Western sanctions over the Ukraine crisis. Although the Russian government has been supporting the automotive industry with new car purchase incentives, sales remain weak in early 2015. Association of European Businesses disclosed its forecast in January 2015 that vehicle sales for 2015 would decrease 24.1% y/y to 1.89 million units. As low oil prices and sanctions will persist for an extended period, prospects for Russian auto market are unclear. LMC Automotive forecasts that market recovery is expected beyond 2017.

 Russian vehicle production in 2014 dropped 13.3% y/y to 1.89 million units. With a view that auto market recovery will take long, GM announced that it would idle its plant and scale down its operations in the country. On the other hand, many other manufacturers are dealing with the sluggish sales by significantly reducing their production.


Related Reports: Subsidies bolster Russian auto market in H2 2013 (Dec. 2013)



January-March sales fall 36% and production drops 21% in 2015

Vehicle sales and year-on-year rate in Russia Russian auto market had shrunk since March 2014 due to the effect of the Ukraine crisis. The year-on-year decrease of vehicle sales expanded month by month. However, when the Russian government introduced a scrappage incentive scheme in September, the year-on-year decline slowed. Sales in December increased from the previous year since many Russians rushed to buy vehicles prior to the expected rise in prices due to the weak ruble. During the last half of December the ruble plunged while the vehicle prices were raised in the beginning of 2015. As a result, sales for the period from January to March 2015 decreased by 36.3% y/y to 384,000 units.

 Meanwhile, a number of OEMs which are manufacturing their vehicles in Russia have cut production to deal with the shrinking demand since mid-2014. Production in the January to March period fell to 385,000 units in 2015, down by 20.7% y/y. While production of passenger cars dropped 20.4% y/y, output of commercial vehicles decreased 23.7% y/y.

Vehicle production and sales in Russia

(Units)
2011 2012 2013 2014 Jan.-Mar. 2014 Jan.-Mar. 2015 2015 (Forecast)
Production of vehicles 1,994,254 2,239,545 2,182,973 1,893,365 484,878 384,600 -
Production of passenger cars 1,738,163 1,968,789 1,919,143 1,692,505 446,074 355,000 -
Production of commercial vehicles 256,091 270,756 263,830 200,860 38,804 29,600 -
Sales of vehicles 2,653,408 2,938,789 2,777,447 2,491,404 602,473 383,538 1,890,000

Source: ASM Holding for production: Association of European Businesses (AEB) for sales(Note)

1. Production volumes include heavy-duty trucks; sales do not include heavy-duty trucks.
2. Production volumes for the period from January to March 2015 are based on the flash report by Russia Federal State Statistics Service.
3. Sales forecast for 2015 represents AEB's forecast disclosed in January 2015.


Russian government bolsters auto industry with support measures

Russia to extend scrappage scheme to 2015 and add RUB 25 billion in March 2015

Scrappage incentive scheme  In August 2014, the Russian government approved a scrappage incentive scheme to boost domestic new vehicle sales. The scheme provides incentives for replacement of the old cars with locally-produced vehicles from September 1 to December 31, 2014. The government earmarked RUB 10 billion to fund incentives for purchases of approximately 170,000 vehicles.
 Under the terms of the scheme, buyers of new passenger cars are eligible for a subsidy of RUB 50,000 when scrapping their old vehicles, while the discount for trade-ins starts from RUB 40,000. Trade-in cars should be six years old or older. (The scrappage incentive scheme for 2010-2011 provided RUB 50,000 for trade-in cars of ten years old or older.)
Addition of budget and extension of scheme  In October 2014, the government revealed a plan to add RUB 2.9 billion to the scrappage incentive scheme by the end of 2014. The government also announced that it would extend the scheme into 2015. According to the plan disclosed in December, the government would earmark RUB 10 billion to fund incentives for purchases of 170,000 vehicles in 2015.
Additional aid of RUB 25 billion  The Russian government approved an additional expenditure of RUB 25 billion to support domestic auto industry. The government would allocate RUB 5 billion for the scrappage incentive scheme for the second quarter of 2015, RUB 11 billion for vehicle purchases by federal agencies, and the rest of the budget for subsidizing interest on car loans and reducing the cost of leasing. The government measures will limit the year-over-year decline in vehicle sales to 24% in 2015 (The sales are expected to decrease by 50% y/y without support.).

(Note) The Russian ruble is 51.79 to the US dollar at the end of April 2015. The value of the ruble plunged to the 70-mark, halving the value from a year ago, at the end of December 2014. It rebounded gradually in February and returned to the 50-mark to the dollar area in late March owing to stabilization of the oil prices and the Ukraine condition. Since the Western sanctions are expected to persist, it is difficult to tell if the value of the ruble will continue to rise.

 

 



AvtoVAZ's market share shrinks to 15.5% while Hyundai Group expands to 15.1%

New car and LCV market share in Russia  Looking at market shares by OEM, AvtoVAZ's share has gradually decreased from 27% in 2010 to 15.5% in 2014. Nissan, which had aimed to expand its share to 6.5 % in 2014, gained a 7.3% share with success of the Almera, a sedan adapted for the Russian market, and the Datsun brand models that were recently launched. Renault-Nissan-AvtoVAZ accounted for a combined share of 30.7%.

 Hyundai Group, which is chasing AvtoVAZ intensely, expanded its market share to 15.1%. The automaker's Kia Rio subcompact car and Hyundai Solaris sedan designed for Russia have been popular in the Russian market.

 

 



Passenger car production by OEM and reduction of production

Passenger car production by OEM in Russia The passenger car production in Russia by OEM shows that AvtoVAZ's production has been decreasing since 2012 to 390,000 units in 2014. On the other hand, Renault and Nissan, which had started full-scale production at AvtoVAZ's new plant since 2013, are increasing their output steadily. Nissan, in particular, boosted its production by 73.2% y/y in 2014.

 From mid-2014, AvtoVAZ and a number of other OEMs have cut back their production to deal with shrinking demand. Most of them continue and plan to curtail their output in 2015.

 LMC Automotive's latest production forecast, which is based upon a 35% drop in the Russian car market in 2015, sees that Russian light vehicle production is expected to fall by 22.6% to 1.4 million units in 2015. Once this is adjusted for the departure of GM (announced on March 18, 2015), the decline is likely to be even steeper. According to LMC Automotive, production in the country will recover to 1.69 million units in 2017 and achieve 1.93 million units in 2018.

OEMs cut back production in Russia

AvtoVAZ  According to announcement in August 2014, AvtoVAZ has reduced production of the Lada brand vehicles by 25,000 units during the three monthsfrom September to November 2014.
Renault  Renault suspended production at the Moscow plant of Avtoframos, its subsidiary in Russia, from February 16 to March 6, 2015.
Nissan  Nissan ceased production at its Kamenka plant in St. Petersburg from March 16 to 31, 2015. (reported in March 2015).
GM  GM suspended production at its Susary plant in St. Petersburg from August 22 to September 12, 2014. On September 16, the company announced that it would cut the number of shifts from two to one and reduce workforce through an early retirement program. GM is producing the Opel Astra and the Chevrolet Cruze at its Susary plant.
 According to its announcement in March 2015, GM will idle its Susary plant by the middle of 2015. The automaker will also discontinue contract assembly of Chevrolet vehicles at GAZ's Nizhny Novgorod plant in 2015.
Ford  Ford suspended operations at its St. Petersburg plant from April 7 to 15, from April 21 to June 9, from November 13 to December 1, and from December 12, 2014 to January 18, 2015 and dismissed 700 employees. At its Naberezhnye Chelny plant in the Republic of Tatarstan, it was reported that the number of shifts was reduced to one and 250 temporary workers were discharged.
VW  VW suspended operations at its Kaluga plant for 10 days from September 8, 2014 and five days from November 3, 2014. The company slashed production at the plant to 120,000 units in 2014, compared with the originally planned 150,000.
 According to announcement in March 2015, VW will cut back production on Fridays at its Kaluga plant from April to July 2015 and switch to two-shift production from three-shift starting in May. The plant will also close for two weeks during May. Accordingly, 150 workers will be laid off. (The construction of a new engine plant will be on schedule.)
PSA/Mitsubishi Motors  PSA and Mitsubishi Motors suspended operations at their joint venture plant in Kaluga for two weeks in February 2015.
 According to the automakers' announcement in March 2015, PSA will stop production of the Citroen C4 and the Peugeot 408 from April 27 to July 10, while Mitsubishi Motors will halt production of the Outlander and Pajero Sport from April 27 to May 10. Accordingly, 100 employees will be dismissed.
Geely  Geely suspended production in Russia for January and February 2015 due to the plunging ruble.
Great Wall Motor  Great Wall Motor stopped production in Russia for January and February 2015 due to the plunging rubles.
Mitsubishi Fuso  Mitsubishi Fuso had decreased production in Russia gradually since October 2014 and ceased output at the end of March 2015. The company has no plan to resume production. Mitsubishi Fuso had been assembling the Canter light trucks at the Naberezhnye Chelny plant in the Republic of Tatarstan through a joint venture between Daimler, its parent company, and Kamaz.

 

 



Renault-Nissan-AvtoVAZ

Renault-Nissan Alliance and AvtoVAZ

Taking control of AvtoVAZ  In June 2014, Renault-Nissan Alliance revealed that it has completed a deal to take control of AvtoVAZ. The Alliance spent USD 742 million to acquire a 67.1% stake in Alliance Rostec Auto BV which controls AvtoVAZ. Renault-Nissan Alliance now has a 50.1% stake in AvtoVAZ.
Merging purchasing activities in Russia  Renault-Nissan Alliance and AvtoVAZ have established AVTOVAZ-Renault-Nissan Purchasing Organization (ARNPO) in January 2015 to merge their purchasing activities in Russia. While Renault and Nissan established RNPO which manages all purchasing activities of the two companies in 2001, RNPO and AvtoVAZ set up Common Purchasing Organization LLC (CPO) that undertakes a part of their purchasing in 2013. Recently CPO became an affiliate of RNPO and changed its name to ARNPO. Thanks to the combined purchasing volume of the three companies, ARNPO will be the largest buyer in Russia's auto industry.

 

AvtoVAZ's activities

Plan to slash workforce  In order to address stagnant business results, AvtoVAZ's CEO Bo Andersson adopted 220 urgent measures at the end of January 2014 to cut production volume, reduce costs, and tighten control over inventory and working capital. He also started a plan to reduce a large number of workers. According to the media report in October 2014, AvtoVAZ's whole workforce was reduced by 13,000 (of which 10,000 are white-collar workers) to 53,000 by the end of 2014. The company plans to further reduce personnel to 30,000 by 2020.
Joint venture plant in Kazakhstan  In October 2014, AvtoVAZ revealed a plan to build a new plant with an annual production capacity of 120,000 units in Kazakhstan. AvtoVAZ and BIPEK AVTO, which distributes and services LADA cars in Kazakhstan, will establish a joint venture company (25% owned by AvtoVAZ and 75% owned by BIPEK AVTO) to construct a plant. During the first phase, the plant is scheduled to start operations in 2016. A half of vehicles to be produced at the plant will be shipped to Siberia where BIPEK AVTO also undertakes distribution of LADA cars. The new plant will produce several models including the Lada Vesta sedan and the Lada X-ray hatchback.
AvtoVAZ: new model launch plan
Lada Vesta  The new Vesta sedan, a successor of the Priora, is scheduled to be introduced in September 2015. The model will be produced at Izh-Avto's plant in Izhevsk. The Vesta uses a new B/C platform that AvtoVAZ has developed with Renault-Nissan Alliance.
Lada X-ray 2  The X-ray 2 compact crossover SUV will be produced at AvtoVAZ's plant in Togliatti, starting in 2016. Underpinned by Renault's B0 platform, its basic structure has been developed with Renault, while its style has been designed by AvtoVAZ.

 

Nissan's activities

Goals for Russian market  Nissan aims to locally produce 90% of the vehicles sold in Russia and raise its market share to 10% by the end of 2016 (its share in 2014 was 7.3%). The company also has a plan to increase the number of Datsun brand dealers to80 to 100 dealers by the end of 2016. In the same year, sales of Datsun brand vehicles are expected to account for a third of Nissan's total sales.
Doubling capacity at St. Petersburg plant  Nissan invested EUR 167 million in its St. Petersburg plant to double its annual production capacity to 100,000 units by adding a second production line. As a result, 1,500 new jobs were created. The company will increase the number of models being built at the plant from three to five. They include the new Pathfinder and the new X-Trail which Nissan began production in August and December 2014, respectively. The new Qashqai will be added to the line in 2015.
Nissan: new model launch plan
Datsun mi-DO  The Datsun mi-DO, which will be released in early 2015, is a five-door hatchback model of the Datsun on-DO. While the two models share the platform, the mi-DO's overall length is shorter by 387 mm to emphasize its driving dynamics. The mi-DO is equipped with a 1.6-liter petrol engine combined with a five-speed manual transmission or a four-speed automatic transmission. The model will be produced at AvtoVAZ's Togliatti plant.

 

 



U.S. OEMs in Russia: GM and Ford

GM changes business model in Russia

Ending sales of Opel vehicles and most Chevrolet vehicles  In March 2015, GM announced that it would change its business model in Russia. The company will focus on the premium segment of the Russian market with Cadillac and U.S.-built iconic Chevrolet products such as the Corvette, Camaro and Tahoe. The Chevrolet brand will minimize its presence in Russia and the Opel vehicles will leave the market by the end of December 2015. As a result, GM's annual sales in Russia will fall from 200,000 units to 2,000 units (Automotive News Europe on March 23, 2015). The automaker seems to have put priority on achieving the target "to turn its European business into the black by 2016".
Closing plant and terminating contract manufacturing to GAZ  GM will halt production of the Opel Astra and the Chevrolet Cruze at its Susary plant in St. Petersburg by the middle of 2015 and idle the plant. Furthermore, the contract assembly of Chevrolet vehicles at Russian GAZ's Nizhny Novgorod plant will be discontinued in 2015. Consequently, the only model that GM will produce in the future in Russia will be the Chevrolet Niva SUV which is built at the Togliatti plant of GM-AvtoVAZ joint venture.

GM-AvtoVAZ to continue expansion plan of Togliatti plant

 While GM plans to stop production at its plant in St. Petersburg, GM-AvtoVAZ is scheduled to build the next generation Chevrolet NIVA in 2016 as planned. The joint venture has been constructing a new plant near its existing Togliatti plant in Samara since June 2013 and plans to start operations at the end of 2015.

 

Ford plans to launch four new models in 2015

 Ford has a plan to release four new models into the Russian market in 2015. Prior to beginning production of the new Mondeo, Ford renovated its Vsevolozhsk plant, renewing the production equipment, expanding automation and enhancing production processes. In addition, Ford invested USD 100 million in the Yelabuga plant to start full-cycle production of the new Transit which the company used to assemble using semi-knockdown kits. Ford introduced a state-of-the-art welding system and robotics for painting processes into the Yelabuga plant.
New Mondeo  This midsize sedan has been produced at Ford Sollers' Vsevolozhsk plant since April 2015. The model was adapted to the Russian market by raising the ground clearance by 12 mm and adjusting suspensions and brakes to meet the country's road conditions.
New Transit  The new Transit is a full-size van and wagon. Ford started production of the new Transit at Ford Sollers' Yelabuga plant in the Republic of Tatarstan in April 2015. Three versions in overall length and two versions in roof height are offered. The model is equipped with a 2.2-liter Duratorq diesel engine paired with a six-speed manual transmission.
Focus (face-lifted)  The Focus is a compact model that will be produced at Ford Sollers' Vsevolozhsk plant starting in the latter half of 2015.
Fiesta  This is a five-door model of the Fiesta subcompact car. The model will be produced at Ford Sollers' Naberezhnye Chelny plant in the Republic of Tatarstan starting in the latter half of 2015.

Ford Sollers' activities

Modernization of third plant  Ford Sollers, a 50-50 joint venture between Ford and Sollers, has completed modernization of its Naberezhnye Chelny plant in the Republic of Tatarstan in December 2014. The third plant for the joint venture spent USD 400 million to renew production systems. It has an annual production capacity of 115,000 units and employs 1,500 people. The EcoSport subcompact SUV is the first model to be built at the Naberezhnye Chelny plant. In 2015, the five-door Fiesta also goes into production at the plant.
Ford takes control of Ford Sollers  In April 2015, Ford revealed that it is taking control of Ford Sollers through the acquisition of preferred shares, with the 50-50 split of the ordinary shareholding structure unchanged. Ford will provide additional funding to Ford Sollers. The funding will be utilized to expand its model line-ups in Russia and increase investment in localization of component production. Ford consolidated Ford Sollers for financial reporting purposes effective March 31, 2015.

 

 



Chinese OEMs in Russia: Lifan, Great Wall and Chery

Lifan plans to build two new plants in Russia

Kaluga province  In August 2014, Lifan Motors signed an agreement with local authorities on building a new plant in Kaluga province, western Russia. With an investment of USD 150 million, the Chinese automaker will initially start withan annual production capacity of 10,000 units, and aims to expand it to 100,000 units eventually. Lifan Motors has been the top Chinese automaker for three consecutive years in terms of sales volume in Russia.
Lipetsk province  Lifan Motors received an approval from the Russian Ministry of Economic Development on building a new plant in Lipetsk province, western Russia in November 2014. Lifan signed an investment agreement worth USD 300 million with the government of Lipetsk province in October. The company plans to construct a plant which includes welding, paint and assembly shops. The new plant is scheduled to be completed with an annual production capacity of 60,000 units in summer 2017. Three sedan and six SUV models will be produced at the plant.

 

Great Wall Motor starts construction of a new plant in Russia

 In August 2014, Great Wall Motor held a ground-breaking ceremony of an assembly plant in Uzlovaya Industrial Park in Tula province. With an investment of RUB 18 billion, the plant will be built in two phases on the site with a total area of 2.16 million square meters. On completion of the first phase for which RUB 12 billion is earmarked, the plant is scheduled to start production in 2017 with an annual capacity of 80,000 units. In 2020 when the second phase will finish, the automaker aims to increase the annual capacity to 150,000 units. It will be the first integrated manufacturing base with stamping, welding, painting and assembly processes that Great Wall Motor builds outside China.

 

Chery Motor starts contract manufacturingat Derways

 In July 2014, Chery Motor began contract manufacturingof its models at Derways Automobile, a Russian automaker. Production of the Bonus 3 sedan and the Tiggo 5 compact crossover started in July, followed by the Arrizo 7 sedan that uses a new platform in August. The three models are collectively called "Ambition Line." Chery Motor has sold a total of 180,000 units in Russia since it entered the market in 2005. The Chinese automaker plans to expand local production and model line-ups in Russia through cooperation with Derways.

 

 



Japanese OEM in Russia: Toyota

Toyota to increase production capacity at St. Petersburg plant

 Toyota has a plan to double the annual production capacity at its St. Petersburg plant from 50,000 to 100,000 units by the end of 2015. When production of the new Camry started at the plant in November 2014, Toyota added a stamping shop and a resin molding facility, thereby raising local content of the Camry from 15% to 30%. Toyota is scheduled to start production of the RAV4 designed for Russia in 2016. Local content of Toyota's vehicles to be built in Russia is expected to increase to 50% by 2018. Total investment in the St. Petersburg plant will reach RUB 16 billion in 2016.

 

 



Commercial vehicle makers in Russia: Tata, GAZ, Scania, Isuzu, Volvo, Kamaz and others

Tata Motors signs truck distribution agreement with Russian company

 Tata Motors and TML TRUCK RUS (Russia) signed an agreement on appointment of TML TRUCK RUS as the official distributor of Tata's commercial vehicles in Russia in July 2014. The Indian manufacturer plans to distribute light-, medium- and heavy-duty commercial vehicles in the country. TML TRUCK RUS will set up Tata brand outlets in Moscow and St. Petersburg, a warehouse for spare parts and 60 touch points in key regions over a period of five years.

 

GAZ and Scania extend partnership on production of buses

 GAZ and Scania announced that they signed a partnership agreement in September 2014. The two companies intend to extend cooperation in production and promotion of the buses for Russia and export markets. GAZ Group has been using Scania's chassis to manufacture the Cruse coach since 2005 and the Voyage large bus since 2011. Thus, their cooperation has been successfully maintained for more than 10 years. Currently, GAZ is producing the Voyage L and LIAZ-529230, using Scania's components.

 

Isuzu begins production of trucks in Russia

Elf (N-Series)  Sollers-Isuzu, Isuzu's joint venture in Russia, started complete knockdown production of the Elf (N-Series) with loading capacity ranging from 1.5 to 6.5 tons at UAZ's plant in Ulyanovsk in April 2014. The plant has an annual production capacity of 5,000 units for Isuzu trucks, and plans to manufacture 2,340 units of the Elf by the end of 2014. Isuzu intends to raise local content of the Elf from current 30% to 40% by 2015.
Forward (F-Series)  In October 2014, Sollers-Isuzu began assembly of the Forward (F-Series) medium-duty truck with loading capacity from 8 to 12.5 tons at UAZ's plant in Ulyanovsk. The company plans to produce 1,000-1,500 units of the Forward per year.

 

Volvo starts operations at cab plant

 Volvo invested EUR 90 million to construct a cab plant in Kaluga and opened it in November 2014. The cab plant is located next to the existing body shop. It has an annual production capacity of 15,000 units which coincides with the capacity of the body shop. 10,000 units are earmarked for Volvo while 5,000 are for Renault Truck. Volvo is scheduled to produce 2,000 cabs for Volvo in 2014, and will start manufacturing the cabs for Renault Truck in mid-2015.

 

Kamaz trucks to be manufactured in Azerbaijan

 Kamaz and Azerbaijan's Ganja Automobile Plant signed an agreement on production of heavy-duty trucks in Azerbaijan in December 2014. Under the agreement, Kamaz will supply assembly kits of its heavy-duty trucks while Ganja Automobile will assemble them at its plant starting in the first half of 2015. The two companies also reached an agreement on the terms of after-the-sale services planned in Baku, Azerbaijan's capital, and Ganza, its second largest city.

 

Ford Otosan starts contract manufacturingof trucks at Avtotor

 Ford Otosan, a joint venture between Ford and a Turkish company, signed an agreement with Kaliningrad-based Avtotor on contract manufacturingof trucks in Russia in December 2014. Production of Ford trucks and trailers began at Avtotor's Kaliningrad plant at the end of December. The vehicles produced in Kaliningrad are sold in the Russian market.

 

 



Sales Forecast by LMC Automotive: Russian sales to drop to 1.6 million in 2015-16

(LMC Automotive, 1, 2015)

Russian light vehicle sales forecast Russia is entering a severe recession due to falling oil prices, Western sanctions over the Ukraine crisis and a weak ruble. Purchasing power for Russian consumers is being decimated. The combination of substantial price increases, higher interest rates, and falling real wages is expected to lead to a much sharper drop in light vehicle sales in 2015 than in 2014. LMC Automotive expects (as of Quarter 1 2015) that Russian light vehicle sales will fall by 35.3% year-over-year to 1.61 million units in 2015 even though the authorities will continue to support the market via another scrappage scheme. The oil price is now forecast to average just USD 55 a barrel during 2015 and recover only slowly thereafter, so that there is little chance of any real recovery in 2016. Light vehicle sales are projected to start on a gradual recovery trend in 2017 and increase to 2.13 million units in 2018.

 The announcement by GM on March 18, 2015 that it is pulling out of Russia has come too late to be incorporated in LMC Automotive's Q1 2015 forecast. GM's departure will undoubtedly leave a gap in the market to be filled by its competitors, though GM's approach to supply in Russia has always been somewhat confused, something which left it exposed when the market collapsed. In recent years, the most significant models in volume terms for GM (excluding the Niva SUV, which will continue) have been the Opel Astra, the Opel Mokka and the Chevrolet Cruze. The absence of these products may benefit all OEMs to some extent, but LMC Automotive projects the most significant gains by Hyundai Group, Renault Nissan, Ford and VW Group.

Russian light vehicle sales forecast by make

(units)
SALES GROUP GLOBAL MAKE 2012 2013 2014 2015 2016 2017 2018
Total 2,934,488 2,771,634 2,491,273 1,612,004 1,609,517 1,836,494 2,131,083
Renault-Nissan Group Lada 537,623 456,307 387,307 302,516 309,549 355,090 422,077
Nissan 153,752 146,318 162,010 132,609 129,173 136,390 141,245
Renault 189,849 210,100 194,531 121,902 111,667 118,511 134,269
Datsun 0 0 11,414 41,484 41,902 42,126 44,766
Infiniti 9,208 8,672 8,973 5,329 4,434 5,634 6,380
Renault-Nissan Group sub-total 890,432 821,397 764,235 603,840 596,725 657,751 748,737
Hyundai Group Hyundai 174,282 181,153 179,631 105,169 109,260 126,117 145,503
Kia 187,330 198,021 195,691 116,195 103,908 122,052 143,424
Hyundai Group sub-total 361,612 379,174 375,322 221,364 213,168 248,169 288,927
Volkswagen Group Volkswagen 180,878 172,166 140,683 85,365 86,514 99,312 117,929
Skoda 99,064 87,457 84,437 55,719 50,315 54,715 59,109
Audi 33,515 36,149 34,014 15,939 17,330 23,480 29,635
Porsche 3,609 3,791 4,707 2,443 2,714 3,600 5,582
Seat 2,501 3,377 1,641 31 452 1,781 2,268
Bentley 259 149 0 39 146 291 324
Lamborghini 6 9 0 0 0 9 6
Volkswagen Group sub-total 319,832 303,098 265,482 159,536 157,471 183,188 214,853
General Motors Group Chevrolet 238,216 198,137 132,736 69,708 76,203 90,840 104,709
Opel 81,239 81,447 64,985 34,496 36,461 48,991 63,480
Daewoo 55,035 37,340 28,134 14,521 12,530 11,603 7,322
Cadillac 2,026 1,510 1,324 935 791 1,310 1,539
General Motors Group sub-total 376,516 318,434 227,179 119,660 125,985 152,744 177,050
Toyota Group Toyota 153,051 154,813 161,954 89,868 79,921 91,973 108,980
Lexus 15,651 15,055 19,149 7,278 8,278 8,882 9,898
Daihatsu 0 18 0 0 0 0 0
Toyota Group sub-total 168,702 169,886 181,103 97,146 88,199 100,855 118,878
Ford Group Ford 130,806 106,740 65,967 52,454 58,471 69,034 85,665
GAZ Group GAZ 78,711 75,152 67,042 44,453 46,256 55,674 63,692
Mitsubishi Motors Mitsubishi 74,294 78,746 80,133 46,952 47,785 51,171 57,983
Daimler Group Mercedes-Benz 41,412 49,635 60,185 33,969 33,176 38,886 46,103
Smart 27 192 368 218 284 322 459
Daimler Group sub-total 41,439 49,827 60,553 34,187 33,460 39,208 46,562
BMW Group BMW 37,513 42,074 35,504 23,405 25,128 29,063 38,123
MINI 2,630 2,801 1,750 738 772 930 1,312
Rolls-Royce 56 52 0 0 12 21 30
BMW Group sub-total 40,199 44,927 37,254 24,143 25,912 30,014 39,465
PSA Group Peugeot 44,418 33,864 21,102 12,008 13,533 16,643 21,354
Citroen 30,335 27,160 19,099 9,759 10,093 11,344 13,766
DS 2,524 1,805 976 722 869 1,441 1,949
PSA Group sub-total 77,277 62,829 41,177 22,489 24,495 29,428 37,069
Geely Group Volvo 20,366 15,015 15,421 8,442 10,198 13,385 17,295
Geely 17,565 27,265 18,837 11,539 11,941 11,901 12,322
Geely Group sub-total 37,931 42,280 34,258 19,981 22,139 25,286 29,617
Mazda Motors Mazda 44,442 43,175 50,716 25,165 20,269 20,883 26,948
Fiat Chrysler Automobiles Fiat 14,010 8,002 8,102 4,936 6,500 11,003 15,855
Jeep 4,568 5,219 8,206 5,297 6,111 8,235 9,280
Alfa Romeo 16 41 96 36 29 82 119
Maserati 36 28 27 35 50 83 73
Ferrari 40 25 18 11 13 12 12
Dodge 54 191 26 0 0 0 0
Chrysler 481 186 145 12 0 0 0
Fiat Chrysler Automobiles sub-total 19,205 13,692 16,620 10,327 12,703 19,415 25,339
Other Chinese Manufacturers Lifan 20,544 27,468 23,626 15,743 17,748 18,422 21,920
Haima 590 400 1,009 450 575 719 988
Hawtai 0 0 0 377 519 595 763
Other Chinese Manufacturers sub-total 21,134 27,868 24,635 16,570 18,842 19,736 23,671
Great Wall Motor Great Wall 14,374 19,953 15,005 12,167 17,857 17,908 20,651
Great Wall Motor sub-total 14,374 19,953 15,005 12,167 17,857 17,908 20,651
Tata Group Land Rover 19,045 21,028 21,148 11,038 10,512 13,642 16,229
Jaguar 1,506 1,708 1,628 814 1,188 1,767 2,510
Tata Group sub-total 20,551 22,736 22,776 11,852 11,700 15,409 18,739
Mahindra Group Ssangyong 31,200 34,055 25,010 12,326 13,760 14,144 16,758
Mahindra Group sub-total 31,200 34,055 25,010 12,326 13,760 14,144 16,758
Suzuki Group Suzuki 32,683 27,729 19,931 8,847 11,621 13,050 14,594
Honda Group Honda 21,513 25,742 20,655 10,331 10,162 11,747 13,621
Acura 0 57 994 851 679 771 799
Honda Group sub-total 21,513 25,799 21,649 11,182 10,841 12,518 14,420
Chery Group Chery 11,517 13,882 18,139 7,989 8,789 11,062 10,740
Fuji Heavy Subaru 14,296 16,829 17,547 8,573 8,197 8,836 9,717
FAW Group FAW 561 4,841 2,164 2,056 2,274 2,995 3,096
Brilliance Auto Brilliance 0 0 955 1,243 1,688 2,060 2,195
Fiat Industrial Iveco 1,605 1,564 0 476 984 1,360 1,635
BAIC Group Beijing 1,843 1,496 1,082 755 844 1,088 1,379
Jianghuai Automotive JAC 0 0 424 807 1,078 1,200 1,237
Yulon Motor Luxgen 0 62 89 580 1,302 1,435 1,232
Changan Automobile Group Changan 0 0 1,094 842 1,123 1,185 1,193
Isuzu Motors Isuzu 156 214 766 505 475 567 661
Dongfeng Motor Dongfeng 0 0 0 285 424 661 646
BYD Auto BYD 2,629 106 5 0 0 0 0
Iranian Manufacturers Iran Khodro 0 12 0 21 24 24 0
Other Uaz 60,652 51,627 49,844 33,217 24,645 28,424 27,723
Aston Martin 24 12 0 11 11 12 11
Tagaz 7,287 1,374 129 2 0 0 0
Bogdan 7,512 2,055 70 0 0 0 0
ZAZ 9,962 3,315 481 0 0 0 0
Izh 2,465 698 19 0 0 0 0
Others 11,126 6,050 2,418 1 0 0 0
Other sub-total 99,028 65,131 52,961 33,231 24,656 28,436 27,734

Source: LMC Automotive "Global Automotive Sales Forecast" (Q1 2015)
(Note)1.Data indicate figures of only small-size vehicles, including passenger cars and light commercial vehicles with a gross vehicle weight of under 6 tons.2. All rights reserved. Reproduction of any data will require permission of LMC Automotive.3. For more detailed information or inquiries of forecast data, please contact LMC Automotive.

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