In June, Chinese brands were not yet required to pay the new customs duties imposed by the European Commission and took advantage of the opportunity to stock up. While Chinese manufacturers have secured, according to organisations, an 8-9% market share of European electricity in 2023, in June they accounted for 11% of sales in the sector.
According to data compiled by Dataforce, Chinese brands have sold 23,000 electric cars on the old continent, an unprecedented figure. The public group SAIC and its MG brand won the gold medal with 13,000 vehicles sold. A figure that Dataforce analysts, interviewed by Bloomberg, would still like to put into perspective.
“Forty percent of MG cars were bought by dealers and not directly by customers,” one of them explains, before continuing: “That’s not very healthy growth.”
Respond quickly to new customs tariffs
This also demonstrates the eagerness of dealers to buy cars before the fateful date of 5 July, the entry into force of the new customs duties. SAIC, no doubt due to its proximity to the Chinese state, is in fact one of the manufacturers most harshly treated by Brussels. Its customs duties increased by 37.6%, while BYD, a private company, saw its customs duties rise by only 17.4%.
The Chinese electric champion is second on the European podium, with 4,000 electric cars sold in June. BYD, sponsor of the Euro 2024 football tournament in Germany, was able to take advantage of this performance. The manufacturer is beginning to make a name for itself and a reputation among European drivers. It is the Chinese brand that, according to most specialists, has the greatest potential.
Source: BFM TV
