Over 5% of Western Europe's new car market is now in the hands of new market entrants
Incumbent car manufacturers that have been around for over one hundred years, in many cases, have seen over 5% of the West European markets snatched away from them within the last ten years by new market entrants in what for so long appeared like a safe-haven market with barriers to entry slowly tumbling in the EV age.
According to the latest Schmidt Automotive Research data available to subscribers, 0.6 million passenger cars sold in 2023 across the 18 market region will go to carmakers that weren't present on the market just a decade ago, making some incumbents look and sound fearful.
The new market entrants, all of which are from outside Europe, are also making European politicians sound nervous.
Tesla and Chinese OEMs are seeing a near 50/50 split of these "new volumes"...
More in-depth reporting in the full study published each month. The study now also features an 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?
May also interest you: French OEMs most vulnerable to Chinese incursion? Click here for the story
*Western Europe 18 Markets: EU Member States prior to the 2004 enlargement plus EFTA markets Norway, Switzerland, Iceland, plus UK