Market Chatter: Chinese Automotive Makers See EU Market Share Slump Following Tariffs

MT Newswires Live2024-12-24

China-based automotive manufacturers saw their European Union electric vehicle market share slump to their lowest since March after the addition of tariffs for cars imported to the region, Bloomberg News reported Monday.

BYD (HKG:1211, SHE:002594) and SAIC Motor's (SHA:600104) MG saw car registrations fall to 7.4% of the total in November from 8.2% in October, the report said, citing automotive research company Dataforce.

The European Union added more tariffs on top of the standard 10% duty by the end of October after a probe by the bloc found that China's government aided the country's electric vehicle sector and gave them an unfair advantage.

China's top new-energy vehicle makers include 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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