According to a report by the Japan Economic News on July 2nd, latest statistics from the European Automobile Manufacturers Association (ACEA) show that in May, the market share of Chinese passenger cars in Europe exceeded that of Japan for the first time.
Data shows that in May this year, among the new car sales in 31 major European countries, five Chinese companies—BYD, SAIC Group, Geely, Chery, and Leopard—experienced a 65% increase in sales, reaching 138,400 units. On the other hand, six Japanese companies—Toyota, Nissan, Suzuki, Mazda, Honda, and Mitsubishi—saw a combined decline of 3%, with sales amounting to 130,400 units. The sales volume of Chinese companies was 6% higher than that of Japanese companies.
According to a report released by BYD on July 1st, the sales of passenger vehicles, including pickups, overseas increased by 70% from January to June, reaching 789,400 units. In June, the proportion of passenger vehicle sales overseas accounted for 44%, representing a year-on-year increase of 20 percentage points.
Reports indicate that despite the EU claiming that Chinese-made pure electric vehicles pose a threat to the European automotive industry due to their low prices and by imposing tariffs, Chinese companies still have high cost competitiveness.
Reports indicate that Japanese companies have a good reputation for fuel efficiency in hybrid vehicles. However, due to their limited electric vehicle product line, it is difficult for them to benefit from preferential policies in European countries. Klaus Kemmer, Director of Business Development at the German Research Center for Automotive Technology, said: “European consumers do not consider Japanese cars when choosing to buy electric vehicles.”
"Compared with Japanese cars that are diminishing in relevance, China's presence in the automotive market will be further strengthened." said Japan Economic News.
