According to Spanish media reports, MG ZS became Spain’s best-selling model in August, with a registered volume of 1,949 vehicles, more than tripling year-on-year, ranking among the 15 best-selling models of the year.
In just two years, China brand cars have occupied a more and more prominent position in the controversial Spanish automobile market, and even achieved the goal that the cars produced in this country become the best-selling cars for the first time in history.
In view of the success of its car sales in Europe and the fact that it sold more than 100,000 vehicles last year, SAIC Motor will consider the location of its factory in Europe.
Similarly, BYD, the second largest car company in China, has tripled its net profit in the first half of this year. It will also consider setting up a car factory or even a “super factory” in Spain, which may also start producing batteries and auto components.
At present, BYD is one of the major manufacturers of electric vehicles in the world, with an annual output of 5 million vehicles, and has opened stores in Madrid, Barcelona, Canary Islands, Malaga, Valencia, Seville and other Spanish regions and cities.
In 2022, the sales of other China brands such as the Lexus owned by Geely, Volvo’s largest shareholder, increased sixfold in Spain, with 2,700 registered vehicles. Most of SAIC’s overseas business is carried out under the MG brand. In 2022, SAIC became the China brand with the largest number of cars exported overseas. With its overseas sales of more than 1 million vehicles, SAIC won this title for the seventh consecutive year.
According to consulting firm McKinsey, China plans to produce more than 26 million cars this year, which shows the manufacturing strength of China compared with other countries in the world. According to the data, in 2022, the amount of China cars purchased by Spain exceeded 1.399 billion euros, an increase of nearly 1905% over the previous year, while the amount last year was only 68 million euros, accounting for 7.3% of the Spanish automobile market share.
In the first half of this year, China also surpassed Japan to become the world’s largest exporter of automobiles. According to the statistics of China authorities, China exported 2.34 million automobiles, while Japanese brands exported 2 million automobiles. Nevertheless, in Spain, the purchase of Japanese cars continued to increase by 23%, while the purchase of other Asian cars such as Korean cars also increased by 28%.
In terms of electric vehicles, BYD surpassed Tesla to become the world’s largest electric vehicle manufacturer with sales of 1.86 million vehicles after 11 years, although 86% of its revenue still comes from the China market.
Post time: Sep-21-2023