Record Chinese turnout puts European carmakers under pressure at Paris show
Chinese brands are doubling their Paris presence as they target overseas growth and challenge European carmakers with more electric and hybrid models.
- 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'.
123 Articles
123 Articles
As many Chinese brands as ever are represented at the Paris Motor Show, their market share in the EU is growing rapidly. Whether the compromise on hybrids helps Europeans is open.
Volkswagen CEO Oliver Blume called for greater cooperation between France and Germany to strengthen European competitiveness, stating that it is not too late to respond to the threat posed by Chinese competitors. Exclusive material for subscribers. To have full access, access the link of the subject and register.
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Emmanuel Macron launched the 91st edition of the Auto Show, where most of the French and European manufacturers are present. This year's star: the legendary 2 CV, revisited in electric version. But the show is also marked by the rise in power of the Chinese brands, with more than 20 manufacturers present, twice as many as two years ago. While electric cars dominate the alleys, the manufacturers also rely on innovation, with many autonomous model…
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The President of France, Emmanuel Macron, hopes soon to reach an agreement with Germany on the protection of the European car industry, a pact that should facilitate negotiations at European Union (EU) level.
France and Germany will soon sign an agreement to protect the European car industry, French President Emmanuel Macron announced at the Paris Motor Show on Monday. The agreement should then help negotiations at the European Union level, reports AFP.
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