Chinese EV Upstarts Outsell Established Brands in Major October Shakeup – Car Dealer Magazine

Chinese electric vehicle brands Omoda and BYD outsold a number of established rivals including Fiat, Smart, DS and Alfa Romeo in October as EV sales rose to capture 20.7% of the market.

Aggressive marketing and competitive pricing have benefited the two brands, which have seen significant growth following aggressive dealer engagement.

BYD last month added South East-based dealer groups Harwoods and Alan Day to its list of franchisees and promised further growth across the UK.

Omoda sold 870 cars in the UK and 780 BYD in October, figures similar to when MG first set up a UK dealer network.

Last month, the resurgent MG brand’s total year-to-date sales stood at 67,439, less than 1,000 units behind Vauxhall, and the MG HS regularly features in the top 10 this year.

Chinese brands are capitulating to European and UK ZEV mandates requiring markets to meet market share targets, where their ability to sell cars at lower prices than EV brands in Europe gives them a competitive advantage – a move that prompted Stellantis to announce the partnership . with new electric vehicle brand Leapmotor at the Paris Motor Show last month, and Stellantis aims to help sell the brand’s low-cost electric vehicles across Europe.

The UK is currently lagging behind its ZEV targets despite being Europe’s second largest EV market by share, and while the latest share figure of 20.7% in October shows an increase in EV numbers, overall BEV sales remain at 18.1% per year. This is now almost four percentage points below the 22% target for 2024 and a long way from the 28% target for 2025 set by the Vehicle Emissions Trading Scheme.

Reacting to the data, SMMT CEO Mike Hawes said: “Huge investment from manufacturers in model selection and market support is helping to make the UK the second largest EV market in Europe.

“However, this transition should not irreversibly slow down the reduction of carbon dioxide emissions from road transport.

“Electronic cars already work for many people and businesses, but to change the entire market at the pace required requires significant intervention in incentives, infrastructure and regulation.”