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Automotive: Chinese electric cars are flooding the sector
Automotive: Chinese electric cars are flooding the sector
(franceinfo)
The number of Chinese electric cars is increasing in Europe, but they are selling less well due to the removal of their ecological bonus.
Behind barbed wire out of sight, thousands of cars, mostly Chinese-made electric ones, are stored in Belgian port terminals. Their number has continued to increase. At the moment, Chinese electric cars are selling less well, since several countries have withdrawn ecological bonuses when the vehicle comes from China.
China produces more than it consumes
“Sales fell by 10 to 20% in March. As they are mainly Chinese brands, they are sold on the Internet and do not have a large dealer network. Everything that is not sold is stored in the ports“, explains Roel Gevaers, researcher at the University of Antwerp (Belgium) and specialist in supply chains.
China, for its part, continues to overproduce: up to 30 million vehicles per year, almost half of which are electric vehicles. As the local market only absorbs two-thirds, Chinese companies seek to sell the rest abroad. 4.1 million Chinese cars were exported in 2023, an increase of 58%. Beijing subsidizes the industry, and cars are sold up to 20% cheaper than an equivalent European model. The European Commission has launched an investigation to assess competition.
