The market share of Chinese automobiles in Europe has surpassed 10% for the first time.

Korean Media: For the First Time in History, Chinese Cars Surpass 10% Share in the European Market!

On July 25, South Korean media outlet Seoul News published an article stating that in May, the share of Chinese automobiles in the European new car market exceeded 10% for the first time. As consumers increasingly gravitate toward cost-effective models, the market share of Chinese vehicles is rapidly expanding.

According to Dataforce data, by May, Chinese automakers accounted for 11% of vehicle sales in Europe. Sales growth has been driven by hybrid and plug-in hybrid models, while demand for Chinese electric vehicles is also on the rise.

DataForce analyst Julian Lichinger commented: “Chinese companies realized early on that European consumers were not yet ready to fully embrace pure electric vehicles, thus they adjusted their product portfolios faster than their Western competitors. Most importantly, their greatest competitive advantage lies in value for money—they offer higher performance and better configurations at the same price point.”

For example, when comparing seven-seat SUVs, the Chinese MG S9 was evaluated as providing greater output and cost savings compared to the Volkswagen Tayron, while maintaining competitive quality.

Automakers such as BYD and SAIC are intensifying efforts to position Europe as a key export market. In particular, SAIC Group, led by its MG brand, is currently leading in sales within the European market.

Original Source: toutiao.com/article/1871652743140427/

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