top of page
Writer's pictureMatthias Schmidt

Chinese car penetration of the West European electric car market hit the buffers as 2023 progressed



 

From the Full Year 2023 Market Study

Is the Chinese penetration growth party, witnessed across Western Europe's BEV all-electric new passenger car market stalling at just under 10%?


Despite the MG 4 achieving a top five BEV model finish in terms of new BEV registrations across Western Europe during 2023, according to the latest European Electric Car Study, published by Schmidt Automotive Research, the growth locomotive from Chinese brands appears to be slowing, with fourth quarter penetration seeing an almost half a percentage point fall in terms of market share over the previous quarter.


A delay in vehicles arriving before the end of the year could be one reason, with the Middle East crisis causing a 10-day diversion to shipping routes around South Africa rather than through the Red Sea.


However, Chinese manufacturers are offering some of the most substantial discounts across the region with up to €12,000 discounts for Chinese models now not uncommon according to the latest study's research.


Pseudo-protectionism across certain European markets targeting Sino-brands which could cause more contagion into 2024 will make the region, which is already expected to see an increase in import tariffs following the conclusion of an investigation into Chinese-made electric cars, tougher going heading into the next 12-months compared to the previous twelve.


Accompanied by that a high proportion of Chinese models, higher than the industry average, are already being delivered directly into car rental and car-sharing schemes according to data published in the latest study, rather than to private consumers.


FAW in Sweden offered €5,000 off its Hongqi model to little effect in the final quarter of 2023 – just 86 were registered there last year..   The European Electric Car Study published by Schmidt Automotive Research each month and is available to purchase as a single edition or an annual subscription.


The study now also features a double page in-depth look at the Chinese OEMs as their European expansion slowly begins.



 
 

*Western Europe 18 Markets: EU Member States prior to the 2004 enlargement plus EFTA markets Norway, Switzerland, Iceland, plus UK

Comments


bottom of page