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Chinese EV newcomers outperform established brands in major October shakeup – Car Dealer Magazine
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Chinese EV newcomers outperform established brands in major October shakeup – Car Dealer Magazine

Chinese electric vehicle brands Omoda and BYD overtook a number of established competitors, including Fiat, Smart, DS and Alfa Romeo, in October, as sales of pure electric cars increased to a 20.7% market share. .

Aggressive marketing and favorable pricing paid off for both brands, which saw significant growth following a strong dealer recruitment campaign.

Last month, BYD added South East-based Harwoods and Alan Day dealership groups to its franchise roster, with future growth promised across the UK.

In October, Omoda sold 870 cars in the UK and BYD 780, figures reminiscent of when MG first established a UK dealership network.

Last month, a resurgent MG brand saw its year-to-date total volumes stand at 67,439, less than 1,000 units behind Vauxhall, with the MG HS consistently in the top 10 this year.

Chinese brands are capitulating to EU and UK ZEV mandates requiring markets to meet market share targets, where their ability to sell cars at lower prices than brands that make EVs in Europe gives them a competitive advantage – a decision that led Stellantis to announce a partnership. with emerging electric vehicle brand Leapmotor at the Paris Motor Show last month, with Stellantis aiming to help market the brand’s low-cost electric vehicles across Europe.

Currently, the UK is behind on its ZEV targets, despite being the second largest EV market in Europe in terms of share, and although the latest share figure of 20.7% in October shows a slight increase in the number of EVs, overall BEV sales remain at 18.1% per year. -to date, almost four percentage points less than the 22% target for 2024 and very far from the 28% target for 2025 set by the vehicle emissions trading system.

Reacting to the data, Mike Hawes, CEO of SMMT, said: “Massive investment by manufacturers in model choice and market support is helping to make the UK the second largest electric vehicle market in Europe.

“This transition must not, however, perversely slow down the reduction of carbon emissions from road transport.

“Electric vehicles are already working for many people and businesses, but to move the entire market at the pace required requires significant intervention in incentives, infrastructure and regulation.”