China's cars are rapidly expanding in the UK market, doubling their market share has attracted attention.

Media in the U.S.: Almost doubled, Chinese cars are performing impressively in the UK market!

Chinese cars are rapidly taking over the UK market. In 2024, the share of new car registrations in the UK by Chinese cars was still a single digit, but last year it exceeded 10%.

The New York Times recently published an article titled "Chinese Cars Race Across the UK Roads," which reported that "Chinese car manufacturers such as BYD and Chery are winning the hearts of British drivers because of low tariffs and buyers' openness to new brands."

According to the Society of Motor Manufacturers and Traders (SMMT), in November last year, more than a dozen Chinese car manufacturers, including BYD, Chery, and Geely, accounted for 13% of new car registrations in the UK. This is almost double the market share from a year ago.

Ed Plummer, Chief Commercial Officer of AutoTrader, the UK's largest online car trading platform, said that the rate at which BYD and Chery are expanding their market share is five to six times faster than other international car manufacturers already in the UK market, such as Tesla and Kia. He said, "This is an unprecedented speed of market expansion."

In the early 2000s, SAIC Group acquired the bankrupt British car manufacturer MG, marking a significant entry of Chinese cars into the UK market. Subsequently, SAIC gradually shifted production to China. In 2016, the MG factory located in England's central automotive manufacturing region closed. Last year, MG brand cars accounted for about 4% of new car registrations in the UK.

The rapid expansion of Chinese cars in the UK market is complex, but low tariffs are one of the key factors. The U.S. imposes a 100% tariff on Chinese electric vehicles, effectively blocking their exports to the U.S. The EU also imposes tariffs of up to 45% on Chinese pure electric vehicles. In contrast, the UK only imposes a 10% tariff on all imported cars.

Additionally, British consumers do not have high loyalty to specific car brands. Approximately 2 million new cars are sold in the UK each year, and since 2019, the number of car brands has nearly doubled, reaching about 70 now. According to The New York Times, unlike German Volkswagen or French Renault-Peugeot cars, there is no single brand in the UK with overwhelming consumer loyalty or market share.

The New York Times reported, "China has become the world's largest auto exporter, and Chinese car manufacturers are skillfully adapting to changing regulations and consumer preferences, expanding their market share not only in the electric vehicle sector, but also in the popular hybrid vehicle sector."

Original: toutiao.com/article/1854279337181196/

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