Automakers are rushing to increase production of electric vehicles in Europe to avoid new tariffs.
In June, Chinese brands captured 11% of the European electric vehicle market, recording a record share. Bloomberg wrote this on Tuesday, July 30.
Automakers are rushing to boost production of electric vehicles in Europe to avoid new tariffs, while tensions between Beijing and Brussels could escalate into a trade standoff.
According to analysts from the research company Dataforce, the leader in the number of new registrations is the Chinese SAIC Motor Corp. Vehicles registered before July 5 can be sold to customers without additional duties on imported electric vehicles.
In total, Chinese brands registered more than 23,000 electric vehicles across the region last month, the highest ever.
Their sequential jump of 72% was double the overall increase in European EV registrations in June.
Analysts will be watching closely to see if volume growth can be sustained in the coming months as additional EU tariffs take effect.
The EU tariffs impose an additional surcharge of 38% on SAIC, while BYD will pay an additional 17% against the current 10% duty.
Over the past six months, 21.2 thousand used cars from the United States of America were registered in Ukraine. That is, 19% of the used cars that switched to Ukrainian license plates from January to June were from the USA.
We remind you that over the year the demand for used cars in Ukraine has increased by 34%.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.