Chinese brands recorded an 11 per cent share of the car market in Europe during June, reaching a record number of registrations, as the countdown to the imposition of tariffs on the import of electric vehicles (EVs) from the Asian giant continues.
In total, Chinese brands registered over 23,000 electric units, the highest figure in their history, representing a 72 per cent increase compared to May, when the number of EV registrations in Europe doubled.
SAIC Motor, after delivering a large volume of its MG4 hatchback to dealerships, led the registration rankings of Asian manufacturers on the Old Continent, according to data published on Tuesday by Dataforce.
The Chinese group’s strategy is driven by the fact that cars registered before 5th July could be sold to customers without the tariffs imposed by the European Commission on imported electric vehicles.
In this regard, Chinese imports from Western manufacturers such as Volvo, BMW, and Tesla are also subject to the new tariffs, as noted in the firm’s latest report.
Although SAIC Motor was responsible for the largest increase in imports among Chinese brands, around 40 per cent of the MG4s registered in June were self-registrations by dealerships.
Another factor that boosted the European electric vehicle market in June was the introduction of incentives for purchasing these cars in Italy, which helped to double the sales of battery electric vehicles in the country compared to the previous year.
According to the Giorgia Meloni government’s announcement, around 200 million euros in subsidies for electric vehicle purchases were exhausted in less than nine hours.
According to data from the European Automobile Manufacturers’ Association, June was the third month with the highest sales volume of EVs, totalling 208,872 registrations across the region, behind December 2022 and March 2023.
Tariffs on Chinese EVs
The European Union imposed provisional tariffs ranging from 17.4 to 37.6 per cent at the beginning of July on the import of electric vehicles manufactured in China, including those from manufacturers BYD, Geely, and SAIC, as well as models made in China by Western manufacturers such as Tesla and BMW.
Chinese car manufacturers want Brussels and Beijing to negotiate a “balanced” solution, with tariffs like the 20 per cent imposed by the Europeans and China’s desire for no regulations to be applied.
For the time being, the European tariffs are provisional, and it will be necessary to wait until November, when the heads of state and government of the various countries make a decision, to know whether the trade barriers with the Chinese automotive industry will become permanent or not.
