Chinese Auto Brands Expand as Electrified Cars Drive Europe Sales Higher
By Mathias de Rozario
May 27 (Reuters) - Demand for electrified cars kept Europe's auto market growing in April, offsetting weaker petrol and diesel demand and helping Chinese brands extend their market share, data from the European Automobile Manufacturers' Association showed on Wednesday.
Electrified Vehicles Boost European Auto Market
Market Growth and Vehicle Registration Trends
Registrations in the European Union, Britain and the European Free Trade Association rose 7% to 1,152,315 vehicles in April, taking the total for January through April 4.8% above a year earlier, according to the data.
Electrified Versus Traditional Vehicles
Electrified vehicles (battery-electric, plug-in hybrid and hybrid models) rose about 21% and made up more than two-thirds of total registrations, while petrol and diesel cars fell about 15% and 17%, respectively.
Policy Impact and Market Dynamics
The figures add to evidence that policy support, subsidies and higher fuel costs are pushing buyers towards lower-emission vehicles, especially in the region's biggest markets.
Tesla Gains Ground, as Do Chinese Automakers
That shift also continued to reshape competition among carmakers.
Performance of Leading Brands
Tesla extended its recovery for a third straight month, with April registrations rising 46.5% to 10,654 units after more than a year of declines, but it remained behind China's BYD, whose registrations jumped 114.5% to 27,008 vehicles.
Chinese and Established Carmakers' Results
Chinese carmaker Chery also expanded rapidly, with registrations up about 322%, while established manufacturers posted mixed results: Volkswagen rose 3.5%, Stellantis 6.7%, Bayerische Motoren Werke 2.4% and Mercedes-Benz 7%, while Renault fell 3.6%.
Strongest Markets for Battery-Electric Vehicles
Italy, France and Germany were among the strongest markets for battery-electric vehicles in the first four months of the year, with registrations up about 73%, 48% and 41%, respectively.
(Reporting by Mathias de Rozario; Editing by Matt Scuffham)
