Market Chatter: Number of Chinese-Made EVs Sold in Europe Tumbles 48%

MT Newswires Live09-30

Chinese car manufacturers sold the fewest electric vehicles in 18 months in Europe, Bloomberg News reported Sunday.

Registrations of Chinese-made cars on the continent fell 48%, a decline for a second straight month, Bloomberg reported, citing data from research company Dataforce.

BYD (HKG:1211, SHE:002594) dethroned SAIC Motors' (SHA:600104) MG as the top Chinese brand in Europe, according to the Bloomberg report citing Jato Dynamics, another firm monitoring the automotive market.

The 65% decline in the number of registrations for MG could be partly explained by the highest additional tariffs set by the European Union on parent SAIC, the report said, citing Jato senior analyst Felipe Munoz.

China's biggest local automakers include Dongfeng Motor Group (SHA:600006, HKG:0489), SAIC Motor, Chongqing Changan Automobile (SHE:000625), BAIC Motor (HKG:1958), Guangzhou Automobile Group (SHA:601238, HKG:2238), Great Wall Motors (SHA:601633, HKG:2333) and FAW Group (SHE:000800).

Top new-energy vehicle include BYD (SHE:002594, HKG:1211), Li Auto (HKG:2015), XPeng (HKG:9868) and NIO (HKG:9866, SGX:NIO).

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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