Car sales in Europe grew at the fastest pace in years last month, driven by an influx of cheap Chinese EVs that threatens to hollow out the continent’s manufacturing capacity.
BYD and SAIC sales in the UK jumped by a third year-on-year, with competition from Chinese brands forcing European manufacturers to slash prices and offer incentives in a bid to keep up, Bloomberg Intelligence said last month.
While senior EU officials have called for more protections for the bloc’s car industries, Chinese cars continue to flood the market, driven by overcapacity in the Asian nation as its domestic market craters. “China’s assault on Europe’s car market has barely begun,” the Financial Times said.
