PREVIEW Full Year 2023 Market
Chinese manufacturers such as BYD, SAIC's MG or Geely's Polestar accounted for just 3 per cent of the West European new passenger car market during 2023, with fewer than 350,000 new units entering the 18 market region, which includes the original EU member states prior to the 2004 enlargement as well as EFTA markets Norway, Switzerland and Iceland, plus the UK.
Despite new PCTC shipping vessels coming to market in 2024, tackling sea-vessel logistical shortages that have led to record shipping costs, the region is expected to continue to account for a minor share of the regional new car market this year.
Market penetration grew by just 0.3ppts over the last three quarters. More granular data and insights are provided in the regular double-page Chinese OEM insight section published monthly in the full study for subscribers or available as a single edition... 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. Are Chinese OEMs really a threat to the established European OEMs and what does the outlook look like?
*Western Europe 18 Markets: EU Member States prior to the 2004 enlargement plus EFTA markets Norway, Switzerland, Iceland, plus UK