AutoBeta(AutoBeta.net)10/04 Report--

According to preliminary data from market research firm Dataforce, new car sales in Europe fell 17% in August from a year earlier, with 38 car brands falling year-on-year, including Volkswagen, Toyota, Mercedes-Benz, Renault, BMW, Peugeot, Skoda and Audi, while only 21 brands increased compared with the same period last year.

As the largest automobile group in the European market, Volkswagen Group's sales in the European market fell 13.7% year on year in August 2024. Only the Lamborghini brand grew, while other brands declined to varying degrees. Volkswagen brand fell 33.3% year-on-year to 81700, Skoda brand dropped 34.8% to 38500, Audi brand dropped 36.2% to 37600. Seattle fell 31.7% from a year earlier.

For other brands, sales of Stellantis Group and Renault fell 28.3% and 12.9% respectively in August. Stellantis Group, formed by the merger of PSA (Peugeot Citroen) and FCA (Fiat Chrysler Group), mainly deals with Peugeot, Citroen, Fiat, DS, Chrysler and other brands, including Peugeot brand down 35.4%, Citroen brand down 43.5%, Fiat brand down 46.4% and Opel brand down 31.9%.

Other brands, Toyota brand down 35.4% year-on-year, sales second only to Volkswagen, Renault brand down 37.4% year-on-year, ranking fourth, Mercedes-Benz brand down 33.7% year-on-year, BMW brand down 36.8% year-on-year. As automakers in the Asia-Pacific region, both Hyundai and Kia are down more than 40%.

From the perspective of sales growth brands, Chery's Omoda, Great Wall, Polar Krypton, Lantu, Red Flag and Tesla brands all achieved sales growth. However, judging from the overall big V, sales of Chinese brands in the European market are relatively low, with polar krypton up 4475.0% from a year earlier, but sales are only 183 vehicles.

Slowing economic growth and rising unemployment in Europe are the main reasons for the decline in car sales. Under the weak market, a number of European car companies began to close factories and lay off staff. In early September, Volkswagen issued a statement saying that in order to solve the problem of overcapacity and declining competitiveness, and to further cut costs, it would consider closing German factories, including a larger car factory and a parts factory. involving Volkswagen's main passenger car brands. In addition, Volkswagen announced that it would end a series of job-guarantee agreements with unions, which were supposed to protect jobs until 2029, but will now end early in the middle of next year.

On the other hand, sales of electric cars in Europe have also declined. According to data released by the European Association of Automobile Manufacturers (ACEA), electric car sales in Europe fell 43.9% in August from a year earlier, with the market share falling to 14% from 21% in August 2023. This is the fourth consecutive month of decline this year, in sharp contrast to last year's continuous growth. Due to the weak electric car market, European car giants such as Volkswagen, Mercedes-Benz and BMW have cut their 2024 performance guidelines, and Volvo has announced that it has abandoned its plan to sell only electric vehicles by 2030. In early September, Volvo issued a statement abandoning its goal of selling only electric cars by 2030.

In the past two years, Chinese car companies have begun to accelerate their layout into the European market. In an effort to prevent local carmakers from losing market share, the European Commission launched a countervailing investigation into Chinese electric vehicles and later revealed draft tariffs on Chinese electric vehicles. It is understood that all EU member states will hold a final vote today on the proposal to impose permanent import duties on Chinese-made electric vehicles, and it is reported that France, Greece, Italy and Poland will vote in favor, which will be enough to ensure that the bill will be passed in this vote. It has been suggested that the EU may put forward an additional proposal during the vote, stating that the negotiations between the EU and China have not yet resolved the dispute over Chinese electric vehicle subsidies. It means that even if the proposal to impose tariffs is passed, the European Commission will continue to negotiate with China and continue to review the proposed tariff alternatives.

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat