(ECNS) -- Chinese automotive brands have hit a record 12% share of Europe’s new car market in August, according to data from market research firm Dataforce. Even in Germany, Europe’s largest auto market, their market share has climbed to 6.4%, as Chinese-made vehicles become an increasingly common sight on local streets.
Driven by high oil prices, the EU’s 2035 combustion vehicle ban, and local purchase subsidies, European consumers are shifting rapidly to electrified models, which account for over 70% of new car registrations. Chinese automakers have capitalized on this trend with competitive pricing, advanced battery and intelligent driving technology, and a complete industrial chain that gives them a clear cost edge.
Surveys show over half of European consumers view Chinese brands as leaders in pure electric vehicle technology. Industry observers note that Chinese carmakers now need to strengthen brand recognition, after-sales service and local distribution networks to turn rapid market expansion into lasting, sustainable growth.
(By Intern Lin Qiaochu, Zhang Dongfang)
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