Sales of Chinese electric cars in Europe have now fallen for the 3rd month in a row. The penalty, which affects all electric cars built in China, makes the situation worse.
For the third month in a row, Chinese electric car manufacturers are experiencing a decline in sales on the European market. This trend is primarily due to the punitive tariffs the EU has imposed on Chinese electric cars.
Bloomberg writes that.
The SAIC group, which, among other things, is behind the MG car brand, is the hardest hit with a drop of 28 percent. In response to the punitive tariffs, SAIC has announced that it will take legal action to challenge the ruling.
SAIC is also the car group that pays the most penalty duties in the EU. The group has refused to work when the EU investigated whether the Chinese state legally supported its car industry.
The EU and China are currently in negotiations about the punitive tariff, which can reach 45 percent for certain manufacturers, including SAIC. The decision to introduce tariffs was made in July. It entered into force at the end of October.
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While MG is experiencing a decline, BYD continues its growth with a 200 percent increase in September compared to the same month last year.
Norway stands out as the European country with the biggest increase in sales of Chinese electric cars in September. The Norwegian increase is 38.8 percent compared to September 2023.
Norske Motor points out that there are no punitive tariffs on Chinese cars in Norway, even though the country often follows EU legislation.
However, the EU's punitive tariffs do not only affect the Chinese car brands. The European brands that have cars built in China also have to fork out. It is a consequence that has led Volkswagen to warn of the closure of an entire car brand. Read more about it here .
At Tesla, which also has cars built in China, the brand has already reacted. Immediately after the EU adopted the punitive tariff, the prices of several of Tesla's models shot up. It also happened here at home. However, Tesla has since lowered the price again. Blue. because the brand gets away with just 9 percent penalty duty.
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