Hong Kong 2018. Honda soaring (+20.5%) in a harsh environment

2289
Hong Kong Auto sales
Honda-HR-V-2019

Hong Kong Auto sales reported a negative performance, after the previous year’s shy recovery, with 34.561 sales (-7.2%). Toyota consolidated the leadership – with 23.1% of share – while Honda gained the 4th position registering an impressive performance. 

Hong Kong’s economy likely remained on a weak footing in the last quarter of 2018 after slowing in Q3. As in the previous period, the fourth quarter print was likely weighed by diminishing private spending growth and external demand, due both to ripple effects from the U.S.-China trade war and an ongoing cooling of the property market.

Looking at the 2019, growth headwinds appear poised to weaken economic momentum. In addition to the structural slowdown in China and the trade war effects, a key downside risk stems from the property market, which is expected to continue its correction in coming months due to rising interest rates and a stronger local currency compared to local partners’—particularly the yuan.

In the 2018, Hong Kong’s vehicles market reported a moderate fall after the previous’ year shy recovery. Indeed, according to data released by the Hong Kong Department of Transportations (HKDT), light vehicles sales have been 34.561, down 7.2%.

Brand-wise, Toyota consolidated the leadership with 7.978 sales (+10.2%) raising the market share at 23.1%.

In second place Mercedes with 5.707 units (+8.1%) ahead of BMW with 3.923 (-15.5%), Honda with 2.937 (+20.5%), Audi with 1.957 (-14.8%) and Volkswagen with 1.550 (-7.2%).

Rank 2018Rank 2017Sales 2018Sales 2017'+/- 2018Share 2018
11Toyota7.9787.24210,2%23,1%
22Mercedes5.7075.2798,1%16,5%
33BMW3.9234.641-15,5%11,4%
45Honda2.9372.43820,5%8,5%
56Audi1.9572.297-14,8%5,7%
67Volkswagen1.5501.671-7,2%4,5%
79Nissan1.5461.15633,7%4,5%
810Lexus1.2781.09316,9%3,7%
98Kia1.0791.257-14,2%3,1%
1011Porsche1.0501.0183,1%3,0%
1112Mazda908958-5,2%2,6%
1213Land Rover7076557,9%2,0%
1315Volvo59551316,0%1,7%
1414Mini5305172,5%1,5%
1516Subaru49540322,8%1,4%
1617Maserati275319-13,8%0,8%
1719Suzuki2742595,8%0,8%
1820Jaguar25923311,2%0,7%
1924Infiniti19714932,2%0,6%
2023Mitsubishi19516518,2%0,6%
2121Hyundai187188-0,5%0,5%
2222Bentley174181-3,9%0,5%
2326Renault1437883,3%0,4%
244Tesla1203.729-96,8%0,3%
2518Ford99283-65,0%0,3%
2629Ferrari786323,8%0,2%
2728Lamborghini6467-4,5%0,2%
2825SsangYong60140-57,1%0,2%
2933McLaren4321104,8%0,1%
3032Rolls-Royce392934,5%0,1%
3131Aston Martin35336,1%0,1%
3230Smart3061-50,8%0,1%
3327Citroen2475-68,0%0,1%
3435Alfa Romeo914-35,7%
3536Maxus78-12,5%
3638BYD330,0%
3639Daihatsu3250,0%
3637Jeep34-25,0%