Chinese car manufacturers continue to grow on the continent without slowing down despite the high customs duties imposed by the European Union. Increasing their sales in Europe by 64 percent in February, Chinese brands increased their total market share to 4.1 percent.
Chinese car brands continue their rise in Europe
This increase shows that Chinese manufacturers have further increased their influence in the European automotive market. Despite the customs tariffs rising to 35.3 percent, this growth showed that the impact of the economic barriers applied was limited.
In October of last year, the European Union imposed an additional customs tariff of up to 35.3 percent on electric vehicles imported from China, in addition to the existing 10 percent tax. It was announced that this decision would remain in effect for five years.
Chinese manufacturers quickly updated their product strategies in the face of these new economic barriers. Following the tax burden on electric vehicles, many manufacturers turned to plug-in hybrid vehicles in the European market.
In February, fully electric vehicle sales from China fell by 3.4 percent to 11,116 units, while hybrid vehicle exports increased by 321 percent to 4,744 units. The BYD Seal U PHEV, MG HS PHEV and Chery Jaecoo 7 PHEV were among the prominent models.
Models with internal combustion engines were also in demand. Chery’s Jaecoo and Omoda brands attracted great interest from European consumers. However, not only price advantage but also technological innovations play a decisive role in the growth of Chinese manufacturers in Europe.
It is claimed that the level of artificial intelligence in Chinese vehicles is ahead of many European brands. So what do you think about this issue? You can share your views with us in the comments section below.
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