Apr 22, 2024 Leave a message

In March, Chinese Automakers Surpassed A 4% Market Share in Europe For The First Time

According to market research firm Dataforce, BMW and Renault emerged as the biggest winners in the European car market in March this year, while Chinese automakers also surpassed a 4% share in the European market for the first time.

Specifically, last month, BMW's brand sales in Europe increased by 8.2% year-on-year, reaching 77,912 units, rising from 6th place in the same period last year to 3rd place this year. Among them, sales of the BMW 1 Series surged by 13% year-on-year to 10,704 units.

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Renault brand's new car sales increased by 5.9% year-on-year to 66,327 units, rising from 8th place in the same period last year to 5th place. Among them, sales of the Clio compact car soared by 28% month-on-month to 22,098 units, becoming the sixth best-selling model in Europe in March.

In contrast, Audi and Tesla performed poorly in March. Audi's sales decreased by 20.2% year-on-year to 63,688 units, dropping to 7th place, compared to 3rd place in March 2023. Tesla's sales plummeted by 36.2% year-on-year, falling from 10th place in March 2023 to 16th place.

In March, the total sales of Chinese automakers in the European market reached 57,400 units, exceeding last year's 53,871 units; their market share was 4.3%, up from 3.9% in the same period last year.

Among them, BYD was one of the winners, with sales skyrocketing from 430 units in March 2023 to 2,620 units last month; Xiaopeng Motors' sales increased from 11 units in the same period last year to 462 units. However, MG, a brand under SAIC Group, remained the best-selling Chinese brand in Europe, with sales in March increasing by 10% year-on-year to 25,642 units.

Additionally, 10 automakers including Chinese brands Omoda and Jikene, as well as Ineos Automotive, Lucid, and Mitsubishi, recorded triple-digit or higher percentage growth.

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In terms of models, according to preliminary data from Dataforce, the Tesla Model Y became the best-selling model in Europe for the first time this year in March, but its sales experienced a 42% year-on-year decline. The Volkswagen Golf sold 25,423 units, ranking second and achieving a significant 45% year-on-year growth. Several years ago, the Volkswagen Golf consistently topped European sales charts. In January this year, Volkswagen announced a major redesign for the Golf to extend its lifecycle before transitioning to a pure electric system.

The Dacia Sandero ranked third in March sales, but it was the best-selling model in Europe in January and February this year. Looking at the first quarter, the Dacia Sandero remains the top-selling model in Europe.

Whether in March or the first quarter of this year, the MG ZS is the only Chinese brand model on the top 50 best-selling models list in Europe, and both its monthly and quarterly sales achieved triple-digit growth. Last month, the MG ZS ranked 27th in sales, just 68 units behind the 26th-ranked Toyota C-HR.

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