According to Bloomberg News on the 26th local time, in a full quarter, Chinese automakers' sales in Europe surpassed those of Japanese competitors for the first time, highlighting the rapid expansion of market shares of Chinese brands such as BYD and Chery in Europe.
According to data from market research firm Dataforce, between July and September of this year, the number of registered Chinese brand cars increased nearly twice compared to the same period last year. They accounted for 12.7% of the total European car sales. Hybrid vehicles performed particularly well, accounting for more than 11.9% of Japanese automakers' sales.
The growth momentum of Chinese car sales further accelerated at the end of the third quarter. According to Dataforce, in September, the market share of Chinese brands in Europe reached a record 14.5%, nearly three percentage points higher than August.
According to reports, although European manufacturers such as Volkswagen and Renault Group still dominate the market in this region, the rise of Chinese brands is surprising. Five years ago, Chinese brands accounted for only about 1% of European sales. In contrast, Japanese car manufacturers took decades to establish themselves in Europe.
Bloomberg reports that the EU is considering introducing new regulations that would give priority to supporting cars produced locally when granting subsidies and other incentives. Meanwhile, Chinese automakers have already begun preparing for local production in Europe.
