Chinese EVs grab 11pc of EU share
BY MATT BROGAN | 8th Aug 2024
CHINESE brands grabbed an 11 per cent share of the European electric car market in June, notching record registrations as manufacturers raced to beat incoming European Union tariffs that took affect early last month.
SAIC Motor, parent of MG, LDV and others, led the charge, its MG 4 arriving in high volumes ahead of the July 5 tax change.
According to Dataforce, Chinese brands registered more than 23,000 battery electric vehicle sales across the European market in June, the highest number on record. The number represents a 72 per cent jump over May.
But can the volume gains be sustained over July and August?
The EU’s provision charges will subject SAIC Motor to an additional 38 per cent charge and BYD will pay an extra 17 per cent – both on top of the existing 10 per cent customs duty.
Importers on both continents are rushing to add European manufacturing sites to avoid paying tax while individual EU markets offer incentives to encourage electric vehicle uptake to help meet climate and air quality targets.
In June, Italy introduced incentives that saw electric vehicle uptake double over the same period in 2023.
Some €200 million ($A333.5) was exhausted in just nine hours, about 60 per cent by families and the remainder by businesses.
The effort vaulted Italy into the top six of a regional market that includes non-EU states like Norway, Switzerland, and the UK.
Italian prime minister Giorgia Meloni – whose government recently cracked down on imports falsely branded as Italian-made – travelled to China last week to smooth her country’s relationship with president Xi Jinping.
The nation is seeking to attract Chinese OEMs to its shores, one of several listed as a potential location for brands that include BYD, Chery, Dongfeng, Geely, GWM, Leapmotor, Nio, SAIC, and Xpeng.
Overall, June was the third-highest month for electric vehicle volumes in Europe with registrations of 208,872 across the region.
With Automotive News China
