Chinese Brand Cars Surpass 10% Market Share in Europe for First Time

Data shows that in May 2024, Chinese-branded vehicles accounted for 10.5% of new car sales in the European Union and approximately 12% in the broader European market—including non-EU countries—marking the first time their share surpassed 10% of the overall market. This growth was primarily driven by hybrid electric vehicles (HEVs) and plug-in hybrid electric vehicles (PHEVs), with models such as the MG S9 SUV standing out. Chinese brands captured nearly a quarter of new hybrid vehicle sales in Europe, while demand for battery electric vehicles (BEVs) also rose significantly. Anticipating early on that European consumers were not yet fully ready to embrace pure electric vehicles, Chinese automakers swiftly adjusted their product portfolios, gaining market share with high-value offerings. Geely Group’s portfolio—including Volvo, Polestar, Lotus, Lynk & Co, Zeekr, and Smart—sold 124,000 vehicles in the EU during the first five months of this year, surpassing Ford’s 108,000 units over the same period. SAIC Motor, leveraging its MG brand, sold over 100,000 vehicles in the EU in the first five months, up 12.2% year-on-year. BYD recorded sales exceeding 99,000 units during the same period, a surge of 159% compared to the prior year. Chery Group entered the French market with its Omoda and Jaecoo brands, achieving EU sales of 65,621 units in the first five months—a 265% year-on-year increase. Leapmotor saw its sales skyrocket by 531% year-on-year, bolstered by its deepening partnership with Stellantis Group.