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According to Chinese media Kuaikeji, Dataforce's summary revealed that China brand's share in the European new car market in August reached a record high of 11.7%. Photo shows Paris.
According to Chinese media Kuaikeji, Dataforce's summary revealed that China brand's share in the European new car market in August reached a record high of 11.7%.
New car registrations for Chinese brands in Europe in August exceeded 97,000 units, doubling year-on-year, and overall surpassed established European automakers such as Renault and Audi.
China brand's share has been rising for five consecutive months from 9.8% in April. In June, it surpassed 10%, and in July, it was 11.2%.
Even in Germany, with its strong automotive industry foundation, Chinese cars are gradually establishing a foothold in the market. The share in August was 6.4%, and it is said that opportunities to see Chinese brand cars on the streets are increasing.
Contributing to this leap forward were plug-in hybrid electric vehicles (PHEVs), with Chinese brands accounting for one-third of PHEV sales in Europe in August.
Consumer perceptions are also changing. According to a survey conducted by McKinsey in July targeting European consumers, the high cost-performance, outstanding innovation capabilities, and technical strengths such as advanced driver-assistance systems (ADAS) are factors that lead European consumers to support Chinese brands. 54% of European consumers indicated that they perceive Chinese brands as leading in battery electric vehicle (BEV) technology, and the proportion who showed a similar perception for PHEV technology reached 40%.
The article points out that "behind the high evaluation of Chinese cars is the strength of their comprehensive supply chain." It reported that "in core areas such as batteries, electric drive systems, intelligent cockpits, and driver assistance systems, Chinese manufacturers are rapidly evolving and updating technology, leveraging their large scale to achieve excellent cost performance. They are achieving both rich features and high quality, accurately capturing the points and needs that European consumers prioritize when choosing a car."