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Old 27th February 2025, 10:25   #1
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Chinese brands now command 76% share of global EV sales

Chinese brands now command 76% share of global EV sales-2024_byd_seal_exterior_07.jpg

It is a well-known fact that Chinese car manufacturers are leading the way when it comes to electric vehicles. They are now dominating EV sales globally, and they are doing this without selling a single car in the United States. This is a big thing considering the U.S.A. is the world’s second largest car market.

According to recent data released by Rho Motion, Chinese brands now command a massive 76% share of the global EV and plug-in hybrid (PHEV) market. In Europe, it varies by country, but they have made strong gains in other less developed countries of the world.

Breaking down Europe sales, Chinese brands accounted for about 4% of the 578,000 EVs sold last year in Germany. They managed to capture 7% and 5% of total EV sales in the UK and France respectively. Chinese brands make up 6%, 5%, 8%, and 3% of the market in the Netherlands, Sweden, Norway, and Belgium. Spain and Austria are even higher where they make up 10 and 100% of total EV sales.

China has had even more success in non-European markets. In Brazil, a staggering 82% of all EVs and PHEVs sold in 2024 came from China. They have 77% of market share in Thailand and 70% in Mexico. Also, 75% of all EVs and PHEVs delivered in Indonesia, 52% in Malaysia, 74% in Nepal, and 64% in Israel come from China. Chinese EVs are popular in Australia and New Zealand too, where they make up 26% and 15% of sales.

The reason for this massive success could be due to a couple of reasons. One is that many of the countries where these vehicles sell do not have a strong local car industry more so EVs, making it easier to dominate the market. Additionally, the Chinese EV industry has benefited from at least $231 billion in government subsidies and aid received from 2009 through the end of 2023. This in turn has allowed Chinese EVs and PHEVs to be more affordable. They also come with a plethora of features and tech that make them value for money.

Source: Carscoops

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Last edited by Dippy : 27th February 2025 at 10:36.
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