Electrified Cars Drive Europe Auto Sales Growth as Chinese Brands Gain Ground
Electrified models drove the increase as battery-electric, plug-in hybrid and hybrid registrations rose 51%, 22.7% and 17.1%, ACEA said.
- The European Automobile Manufacturers Association reported on Thursday that electrified car registrations climbed, with battery-electric, plug-in hybrid, and hybrid models rising 51%, 22.7%, and 17.1% respectively in June.
- Petrol and diesel registrations fell 12.2% and 16.9% respectively, slipping below 30% of European Union sales as demand for electrified vehicles continues to underpin market expansion.
- Chinese companies captured a record 10.9% of the European market in June, reaching 150,272 registrations and rising 118% year-on-year, according to Dataforce, roughly doubling their market share from a year earlier.
- To sidestep European Union tariffs of up to 45% on battery-electric imports, Chinese manufacturers are leaning into plug-in and conventional hybrids, with roughly a quarter of hybrid sales now carrying a Chinese-badged model.
- Brussels' tariff wall will determine whether the Chinese advance slows, though growth is increasingly arriving under a hybrid model, while Renault and Volkswagen saw registrations rise between 3.6% and 7.3%.
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(Seoul = Yonhap News) Reporter Kim Yun-gu = Kia [000270] spent heavily on incentives to secure market share in Europe in response to the offensive of Chinese electric vehicles...
▶️ Catherine André talks about the consequences of soaring fuel prices. Electric car sales are booming. In the first half of the year, more than 1.2 million battery-powered cars were sold in the European Union. (Consumption and trends).
China's car companies all at once have a very strong impact on the European car market. Part of the effect comes from a new way of presentation. But some companies are growing very dynamically.
Nine percent of all car sales in Europe are now Chinese brands, and one in three hybrid cars is of Chinese origin. Analysts predict that China will take new shares over the next few years. Hungary's new government is now investigating possible illegal state aid from the Orbán government to BYD.
The car market in the EU is growing again slowly. Burners are losing more and more market shares.
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