South Korean media: Sales of Chinese cars in Europe nearly doubled, market share hits a new high!
On September 9, South Korean media "Herald Economic" published an article stating that Chinese car brands such as Geely and BYD have performed well in the European market. In the first half of this year, these brands achieved record performance, with a market share exceeding 5%.
Data from market research company Jato Dynamics shows that in the first half of this year, Chinese car brands sold 347,135 vehicles in 28 European countries, an increase of 91% compared to the same period last year. The sales share of Chinese cars in Europe reached 5.1%, almost double the 2.7% market share from the same period last year.
The sales gap between Chinese cars and Mercedes-Benz (355,162 vehicles) has narrowed to within 10,000 units, surpassing Ford (257,337 vehicles).
BYD achieved sales of 70,500 units driven by active pricing strategies, an increase of 311% year-on-year. XPeng Motors became the most successful Chinese luxury car brand in the European market with sales of 8,338 units.
The accelerated growth in sales of Chinese cars in Europe is attributed to the rapid growth of the electric vehicle market. Currently, electric vehicles account for 17.4% of total car sales in Europe, an increase of 3.6 percentage points year-on-year.
In the first half of this year, sales of electric vehicles in Europe increased by 25%, reaching 1,193,397 units, breaking through the 1 million mark for the first time. At the same time, sales of plug-in hybrid electric vehicles increased by 24%, reaching 597,588 units.
Chinese brands are steadily expanding their product lines of plug-in hybrid electric vehicles while vigorously promoting pure electric vehicles to increase market share. Electric vehicles account for 37% of Geely's total sales, while plug-in hybrid electric vehicles account for 29%.
Volkswagen was the top-selling electric vehicle brand in Europe in the first half of this year, with its electric vehicle market share increasing from 10.1% in the same period last year to 18.7% this year. Hyundai and Kia also saw their market share rise from 12.6% to 19.1%.
Jato Dynamics analyzed that "as the European new car market shrinks and competition intensifies, electric vehicles are becoming an important market in Europe."
Original: www.toutiao.com/article/1842759885898764/
Statement: This article represents the views of the author.