China v.s. EU? China’s success in the EV market and its offensive and defense against the EU

Here you will find trending news topics in the automotive and mobility markets around the world.

We carefully select interesting news in the automotive industry, both domestic and international, and translate and summarize the contents for your reference. We hope you will find it useful in catching up with the latest news in the industry.

China overtakes the U.S. in new car sales for the first time – Japanese firm to maintain top spot for 23 years

Jun 14, 2024 By bloomberg

Chinese automakers will surpass U.S. brands in annual sales for the first time in 2023, indicating a shifting power structure in the global auto market. Chinese brands, including BYD, China’s largest electric car maker, sold 13.4 million new vehicles last year, surpassing the 11.9 million sold by U.S. brands such as Ford and Chevrolet. The figures were released by research firm Jato Dynamics.

Japanese brands sell the most vehicles worldwide, followed by European brands. Chinese manufacturers’ market shares are soaring in the Middle East, Eurasia, and Africa, while SAIC Motor Group and Geely Automobile are expanding into mature markets such as Europe and Australia.

Jato analyst Felipe Munoz noted that the negligence of traditional automakers has resulted in high car prices, driving consumers toward more affordable Chinese manufacturers. Chinese manufacturers are focusing on exports against the backdrop of price competition in their home market.

Elon Musk, CEO of Tesla of the United States, warned that Chinese companies will “almost destroy” other manufacturers. As the European Union moves to impose additional tariffs on EV imports from China, BYD and others are considering expanding their operations in emerging markets.

Chinese brands accounted for just under 9% of all complete EVs sold in Europe last year. The best-selling car in the world last year was Tesla’s Model Y SUV, which outsold Toyota’s RAV4 SUV. Japanese brands produced 7 of the 10 best-selling models.

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EU imposes tariffs on Chinese EVs, drawing rebuke from Beijing (Original title: EU hits Chinese EVs with tariffs, drawing rebuke from Beijing)

June 3, 2024 by the Japan Times

The European Commission announced that it will impose additional tariffs of up to 38.1% on Chinese-made electric vehicles (EVs) starting in July.This is to counter excessive subsidies, and BYD is subject to a 17.4 %、SAICには38.1%tariff.

European automakers are suffering from an influx of low-cost EVs from China, increasing their share of the EU market to 1 %未満から8%in 2019 and as low as 15 %に達する可能性がある。価格はEU製モデルより20%in 2025.

The Chinese Foreign Ministry condemned the tariffs as “typical protectionism” and said it would take the necessary measures. The China Passenger Car Association (CPCA) said the EU’s provisional tariffs were within expectations and would not have a significant impact.

The Commission will impose a tariff of 21 %、協力しなかった企業には38.1%on companies that cooperate with the investigation. A final decision is expected by November 2.
Volkswagen warned that the negative impact of the tariffs would be significant, and BMW said the tariffs are “the wrong direction.”

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Germany opposes additional EU tariffs, fears trade friction with China

June 12, 2024 by Tokyo Shimbun

German Transport Minister Wissing expressed his opposition to the European Commission’s policy of imposing additional tariffs on Chinese-made electric vehicles (EVs) on January 12, saying, “Instead of trade wars and market fragmentation, cars should be priced fairly through increased competition and market opening within the EU. German auto companies are concerned about trade friction with China, and Wissing has long opposed additional tariffs. A German government spokesman also stated at the press conference that he hoped the EU and China would reach an amicable solution, indicating that he hoped to avoid further trade friction.

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China’s Retaliation Against EU May Be Limited – President Xi Wants to Avoid Strengthening U.S.-EU Ties

June 14, 2024 by bloomberg

China is likely to take limited retaliatory measures in response to the European Union’s announcement to impose tariffs of up to 48% on Chinese-made electric vehicles (EVs). The Chinese Ministry of Commerce and the Chinese Chamber of Commerce in the EU (CCCEU) strongly condemned the announcement. China is taking a cautious stance to avoid a trade war, as a strong response by the Chinese government would risk Europe becoming more aligned with the United States.

China is already in an escalating trade dispute with the U.S. and intends to avoid overreacting to the EU tariff hikes. Retaliatory measures are expected to focus on agricultural products such as cheese and pork. China has also launched an investigation into European alcoholic beverages.

The impact of the EU’s additional tariffs on Chinese automakers is expected to be limited, and Chinese automakers are rushing to build plants in Europe. The Chinese government has indicated that there is room for negotiation and that it intends to continue dialogue with the EU.

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