Chinese hybrids gain more ground despite EU trade curbs
AgenciesChinese carmakers have gained ground in Europe’s shift to electric cars, emerging as the biggest winners in plug-in hybrids despite moves by Brussels to curb their expansio...
Chinese carmakers have been making significant inroads in Europe's electric vehicle market, despite the European Union's efforts to limit their expansion, according to new data. As fuel prices skyrocketed across the EU, reaching a record high of over €2.30 per liter in Germany, demand for electric vehicles surged. In August alone, battery-electric registrations increased by 62.7 percent compared to the previous year and accounted for 21.7 percent of new registrations throughout the first eight months of the year, tying with petrol-powered cars in terms of market share.
Chinese car manufacturers dominated the market, with BYD, Chery, Leapmotor, and SAIC collectively contributing to about 92 percent of the net increase. BYD's registrations more than doubled to 20,845, while Chery's tripled to around 14,000. Plug-in hybrid electric vehicles (PHEVs), of which Chinese brands now account for 35.3 percent of the market, experienced the most substantial growth.
The EU has imposed anti-subsidy duties of up to 35.3 percent on Chinese-built battery-electric cars, while PHEVs face only a 10 percent tariff. Despite the EU's attempts to curb Chinese exports, Chinese manufacturers have continued to strengthen their position in European markets. In Italy, registrations rose by 77.6 percent, while in Spain, they increased by 33.9 percent.
Chinese brands have also shown dominance in specific models, with BYD's Seal U becoming Germany's best-selling PHEV in June and July. Established European manufacturers have been losing ground, with the five largest European carmakers' combined market share falling to 64.6 percent in the first eight months of the year, down from 66.8 percent in the same period last year.
The pressure has led German business daily Handelsblatt to report that the Association of the Automotive Industry now considers trade defense measures justified, but some analysts believe that tariffs may not slow China's progress, as Chinese carmakers have built an integrated ecosystem that spans from batteries to supply chains.
Written by urgent.news from Qatar Tribune Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
