Chinese Automakers Outsell Japanese Brands in Europe for First Time in June, Led by BYD and Chery

According to data released by the European Automobile Manufacturers' Association (ACEA) on July 27, Chinese automakers continue to gain traction in the European market. In June 2024, they sold a combined total of 171,630 new vehicles across the EU, the European Free Trade Association (EFTA), and the UK—surpassing the combined sales of six major Japanese brands, which totaled 158,540 units. Total new vehicle sales in these regions reached 1.41 million units in June, up 13% year-over-year. Among leading Chinese automakers, Geely Group’s market share rose to 3.5%, while SAIC Motor and BYD each held 2.7%, and Chery accounted for 2.3%. Notably, BYD doubled its market share compared to the same period last year, while Chery’s share grew more than threefold. In the same month, China’s total auto exports reached 1.037 million units, marking an 11.6% increase from May and a 75.1% surge year-over-year—the first time monthly exports have surpassed one million units. In the first half of 2024, cumulative vehicle exports exceeded five million units, up 65.3% year-over-year. The top five exporters were Chery, BYD, SAIC, Geely, and Changan, with Chery alone exporting over 900,000 vehicles. Regarding localization efforts in Europe, BYD has announced plans to build a new energy vehicle (NEV) manufacturing plant in Hungary, which will become the first passenger car factory established by a Chinese automaker in Europe. SAIC Motor is also advancing plans to set up its first European production facility in Spain. Meanwhile, Xiaomi Auto aims to enter the European market by 2027.