Alarm bells sound in Brussels as EU sales of Chinese hybrid cars rocket
Summary
Sales of Chinese hybrid cars in the European Union have grown sharply in recent years, especially after anti-subsidy tariffs were placed on Chinese electric cars. This growth has raised concerns in Brussels, leading the EU to ask China to reduce hybrid car exports or face import limits.Key Facts
- In 2022, the EU sold 659 Chinese-made fully hybrid cars, but 160,662 were sold in the first seven months of 2024.
- Sales of Chinese plug-in hybrid cars increased from 56,706 in 2022 to 217,764 in early 2024.
- Hybrids now make up nearly 37% of the EU car market, while electric cars account for just over 21%.
- Chinese brands BYD, Chery, Leapmotor, and Geely are growing fast in the EU market, with Geely being the top-selling Chinese brand.
- Chinese manufacturers are outselling Tesla in the EU this year.
- Volkswagen remains the biggest car seller in Europe with 2 million cars sold in eight months.
- EU officials are concerned about a €1.18 billion daily trade deficit with China.
- EU and Chinese trade officials plan talks in October to ease tensions, while President Donald Trump and President Xi Jinping will meet soon to discuss trade issues related to car industry supplies.
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