Shanghai (Gasgoo)- Today, we will close Data Talk's chapter of PV category with the MPV.
Affected by SUV's invasion, China's MPV sales started to decline since 2016 and presented negative from 2017. The current sluggish auto market climate may further exacerbate MPV's performance. According to Gasgoo Auto Research Institute (GARI)'s forecast, MPV sales in China are likely to slide 22% year on year.
Influenced by consumption upgrades, the compact MPV segment features a gradual decrease in market share. Although China's self-owned brands rolled out such new models as the BYD Song MAX and the Trumpchi GM6, the stimulating effect was much less than they expected. Going forward, the full-sized MPV segment is expected to gain more market shares thanks to the increasingly greater demands over business and premium vehicles.
China-owned brands absolutely occupied the largest market shares of the compact MPV segment, while most old models recorded sales drop for the first half of 2019, including the Wuling Hongguang which was famous for the miracle sales performance it had created.
GARI's analyst said strengthening products' upgrades and grasping what users really need are extremely indispensable for China’s self-owned brands to recapture market shares.
Obviously, joint-venture brands boasted more market percentages than that of China-owned brands in the full-sized segment. This advantage will be further consolidated since Honda and Toyota continue improving the roll-out of full-sized MPV models.
In the near future, BEVs and PHEVs will still dominate the electrified MPV field. Particularly, the plug-in hybrid MPV sector has been gradually enlarged with the launching of new models, such as the BYD Song MAX DM and the Geely Jiaji PHEV. On the other hand, automakers are fortifying deployment in products assisted by 48-volt mild hybrid system to satisfy the increasingly stricter emission rules and regulations (Data source: wholesale volume from China Association of Automobile Manufacturers).
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