Steep tariffs imposed by the European Union against China-made vehicles were not able to stop the growth in sales, the New York Times reported Wednesday.
The EU's tariffs ran as high as 35% for certain companies, according to the report.
In April, Chinese car brands comprised 4.9% of the EU's new car market, equivalent to 53,000 units, the NYT said. The portion was up from 2.4% in the year-ago period, according to the report, citing research firm JATO Dynamics.
Chinese companies still managed to sell more electric vehicles, with BYD (HKG:1211, SHE:002594) and other manufacturers seeing sales surge 59% compared with the 26% growth experienced by other brands, the report said, citing JATO.
One out of five electric vehicles sold in Europe during the first three months of 2025 was Chinese, NYT reported, citing Schmidt Automotive Research.
China's top new-energy vehicle manufacturers include BYD, Li Auto (HKG:2015), XPeng (HKG:9868), and NIO (HKG:9866, SGX:NIO).
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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