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Swiss passenger car market declines by 10.2%
All market channels in the red
Passenger car market in August 2019
Just below 19,300 passenger cars were registered, which represent a decline in the total market of 10.2% when compared to the same month last year. All market channels were in the red. The Private Market was particularly affected with - 12.3%, while the True Fleet Market was down by - 10.8%. This decline also spilled over into the tactical channels with registrations of Short-Term Rental companies falling by 1.2%, as did the registrations from Dealer & Manufacturer contracting by 4.7%. This leaves the Total Market down 1.5%.
More winners than losers among top 10 fleet brands in August
Among others, the month of August was more encouraging in terms of fleet registrations for Toyota (+ 70.5%), which aroused the interest of corporate customers and in particular with the Yaris, RAV4 and Corolla Touring Sports models. Renault also recorded growth of 51.2%, thanks to the steep increase in the number of new registrations for the Megane. In addition, Ford (+ 24.2%), SEAT (+ 20.8%) and Skoda (+ 18.9%) were the other OEMs from among the top 10 fleet brands to record double-digit growths in August.
Why did the True Fleet market nevertheless close the month with a double-digit decrease? To some extent it was the premium brands which suffered the losses. Audi, BMW and Mercedes’ registrations fell by 18.7%, 7.0% and 5.3% respectively. However, the most beleaguered brand was VW, dropping by 46.2%. In order to put thus into context, it should be mentioned that VW delivered a large number of vehicles to companies in the same month last year, pre-empting the first implementation of the WLTP emission standard and any possible issues homologating new vehicles.
Light commercial vehicles with further growth - fleet market in the red
Registrations of light commercial vehicles up to 3.5t rose by 1.6% year-on-year. Both the Private Market (+ 1.5%) and commercial registrations (+ 1.7%) recorded growth.
However, a look at the detailed commercial channels split shows a dip of 6.1% for the True Fleet Market in August, though from YTD perspective 4.7% more vehicles were registered. The tactical channels, i.e. Short-Term Rentals (+ 45.5%) and Dealer & Manufacturer (+ 52.6%) were responsible for the growth in commercial registrations in August. Coming back to the fleet market, within the top 10 brands only 3 improved year-on-year: Peugeot (+ 24.1%), Fiat (+ 21.3%) and Renault (+ 17.7%).
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