One in ten new cars in the European Union is made in China

One in ten new cars in the European Union is made in China

According to the latest data published by the European Automobile Manufacturers Association (ACEA), the car companies BW, Chery, Geely, Lipmotor and Saike (MG) managed to increase their market share in the European Union in August compared to the corresponding month last year and reach 10.8%.

Therefore, according to the latest statistics in the European Union, the market share of Chinese brands increased from seven percent to about eleven percent in August. With regard to the increase in risks such as high oil prices, concerns about the occurrence of an energy crisis in the winter, the sharp increase in consumer prices or the increase in unemployment, experts believe that the current support measures of European countries will disproportionately benefit the Chinese car manufacturers and Tesla, which in the sector of cheap and medium cars, in some cases, attract very competitive financing models and often attract very competitive financing models.