Tuesday, July 23, 2024
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Sales of Chinese Electric Cars Boom in Germany

Sales of electric cars made in China are booming in Germany. Their share of imported passenger cars with an electric drive surged to 28.2 percent in the first quarter of 2023 from 7.8 percent in the same period last year, the Federal Statistical Office (Destatis) said on Friday.

German imports of Chinese-made electric cars increased more than sixfold year-on-year to a total value of almost 925 million euros (1 billion U.S. dollars) in the first three months of the year, according to Destatis.

China has been listed as a manufacturing country in Germany’s passenger car registration figures since last year only, but has already achieved a market share of just under 1 percent by passing the United Kingdom, according to the Federal Motor Transport Authority (KBA).

MG Roewe recorded the highest number of passenger car registrations among Chinese manufacturers in Germany, with 3,843 vehicles sold in the first three months of 2023, including 3,131 units with an electric drive, according to the KBA. Electric vehicle brands Polestar and Lynk also brought more than 1,000 vehicles to the country’s streets each, while Nio sold 136 cars after its market entry.

Chinese electric carmaker Nio has ambitious growth plans for Europe. In addition to its core brand Nio, the company has announced the launch of two other brands, one of which will be explicitly aimed at the European market in the price segment below 30,000 euros. Nio founder William Li said in late April that there was a “huge demand” for small and compact electric cars in Europe. (1 euro = 1.09 U.S. dollar) 

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