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Record Chinese turnout puts European carmakers under pressure at Paris show
Chinese automakers are expanding in Europe as sales at home fall 20% and exports of hybrids to the EU tripled to $7.5 billion, customs data shows.
- A record 20 Chinese car brands will attend next week's Paris Motor Show, doubling their 2024 presence and establishing themselves as competitive threats in Europe despite mounting trade barriers.
- Data from Schmidt Automotive Research show Chinese brands held a 10.7% share of the European market in the second quarter, up from 5.7% a year earlier, while capturing more than 26% of the Western European plug-in hybrid market.
- European carmakers face pressure from Chinese competition and weak demand, prompting Volkswagen and BMW to cut thousands of jobs. Gartner's Pedro Pacheco said, "The Europeans are playing a sort of double game."
- While the European Union considers tariffs on Chinese plug-in hybrids, Aito, owned by Chongqing-based Seres Group, plans to launch four premium electric SUVs and aims for 20% of total volumes within three years.
- Chinese automakers are turning to Europe because they are largely shut out of the US market. Brad Kunz, a partner at consultancy Grant Thornton Stax, said, "The Chinese are saying 'we've got to try and dominate Europe because we can't do anything in the US'.
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Shiny French concept cars weren't the main story at Europe's bangest auto show this year—China was. The Wall Street Journal reports that roughly a third of all brands at the Paris Motor Show were Chinese, up from window than 10 last time to 20, with companies like BYD, Li...
·Miami, United States
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A record number of Chinese automakers are represented at the Paris Motor Show this year.
·Tallinn, Estonia
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The Paris Auto Show has shown its best side this year. With over sixty brands and many premieres, the show offers a fresh look at the automotive industry of the coming years, with fewer SUVs and more stunning concepts.
·Amsterdam, Netherlands (Kingdom of the)
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Coverage Details
Total News Sources188
Leaning Left16Leaning Right23Center32Last UpdatedBias Distribution45% Center
Bias Distribution
- 45% of the sources are Center
45% Center
L 23%
C 45%
R 32%
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