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Statistics: CN EV Brands' Sales in Europe Fall for 3 Consecutive Mths
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According to market research firm Dataforce, sales of Chinese electric vehicle (EV) brands in Europe have declined for three consecutive months following the EU's imposition of temporary tariffs on Chinese EVs in July, Bloomberg reported. In September, the sales fell 10% YoY to 13,097 vehicles, with the market share of EVs dropping by 1.1 ppts MoM to 8.5%. Among them, the British MG brand under SAIC, facing an additional 35% tariff rate that marks the highest among Chinese car companies, saw sales plunge 42% YoY to 6,717 vehicles. The sales of BYD COMPANY (01211.HK) and XPENG-W (09868.HK) (XPEV.US) increase by 1.62 times and 5.88 times YoY to 4,376 and 935 vehicles, respectively. Zeekr (ZK.US), under Geely, also saw sales climb by 23 times YoY to 192 vehicles. EV sales in Europe hiked 14% YoY in September. According to Jato data, Tesla (TSLA.US)'s Model Y and Model 3 were the best-selling models. AAStocks Financial News |
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