🔶 One in every ten new cars in the European Union is made in China

According to the latest figures published by the European Automobile Manufacturers’ Association (ACEA), in August, the automakers BYD, Chery, Geely, Leapmotor, and SAIC (MG) together increased their market share in the European Union compared with the same month of the previous year, reaching 10.8%.

As a result, according to the latest data in the European Union, the market share of Chinese brands in August has increased from 7% to about 11%. Pointing to rising risks such as high oil prices, concerns about the occurrence of an energy crisis in the winter, a sharp rise in consumer prices, or growing unemployment, experts believe that the current support measures in European countries will end up benefiting Chinese automakers and Tesla in a way that is out of proportion—especially in the segment of cheaper and mid-priced cars, where, in some cases, they also offer highly competitive models and, often, attractive financing conditions.