Korean Media: Sales of Chinese Cars Double in the UK Market!
On May 17, South Korean media outlet NEWSPIM published an article stating that data shows sales of Chinese automobiles in the UK have doubled.
According to data from the Society of Motor Manufacturers and Traders (SMMT), among the 380,000 vehicles sold in the UK in March this year, 15% were Chinese brand cars—more than double the 7.4% recorded during the same period last year.
If the sales volumes of global automotive companies owned by Chinese firms such as Volvo and Lotus are included, the market share would reach 20%.
The growing popularity of Chinese cars in the UK market is increasingly driven by two automakers: BYD and Chery. In March, their combined vehicle sales accounted for 10% of the UK market, a more than threefold increase from 3% last year.
The UK’s Financial Times analysis pointed out that due to the continued rise in international oil prices, consumer interest in new energy vehicles has significantly increased, providing substantial benefits to Chinese automakers.
Additionally, Chinese automakers have recently launched high-end new energy vehicles with superior cost-performance ratios, actively expanding their presence in the UK market, which has further boosted sales.
In particular, after the European Union imposed high tariffs on electric vehicles imported from China, Chinese companies have placed greater emphasis on the UK market, which is not an EU member state. Currently, the UK imposes a 10% import tariff on vehicles from China.
Analysts note that five years ago, Chinese cars accounted for only 1.3% of the UK market, but now that figure has risen to 15%. This marks another impressive achievement for China’s automotive industry in the European market.
Original article: toutiao.com/article/1865433248652288/
Disclaimer: The views expressed in this article are solely those of the author.