中国车企在欧洲逆势“狂飙”

Core Viewpoint - Chinese automakers are leveraging plug-in hybrid electric vehicles (PHEVs) as a strategic response to the EU's high tariffs on pure electric vehicles, resulting in significant sales growth in the European market [1][2]. Group 1: Market Performance - In Q1 2025, Chinese car sales in Europe reached 148,000 units, a 78% year-on-year increase, with market share rising from 2.5% to 4.5% [1]. - Sales of plug-in hybrid models surged by 368%, becoming the main driver of this growth [1][2]. - BYD and Chery sold 3,269 and 757 plug-in hybrid vehicles in March 2025, respectively, marking a significant increase from nearly zero sales in July 2024 [2]. Group 2: Strategic Adjustments - Chinese automakers are adjusting their strategies in Europe by focusing on plug-in hybrid models, which are still subject to a 10% base tariff, unlike pure electric vehicles facing tariffs as high as 45.3% [2][4]. - BYD's plug-in hybrid vehicles accounted for 41% of its electric vehicle sales in the EU in March 2025, while SAIC's figure was as high as 49% [2]. - Chery's plug-in hybrid sales exceeded pure electric models, with 71% of its electric vehicle sales in the EU being plug-in hybrids [2]. Group 3: Competitive Landscape - The low base of plug-in hybrid sales in Europe and limited offerings from major European automakers (e.g., BMW, Mercedes) have created opportunities for Chinese brands to capture market share with high-cost performance products [3][4]. - BYD plans to launch two new plug-in hybrid models in Germany by 2025, aiming to meet diverse consumer needs [3]. Group 4: Future Outlook - Ongoing negotiations between China and the EU regarding electric vehicle tariffs may lead to a minimum price setting for Chinese electric vehicles, which could be more favorable for market competition than tariffs [5]. - The transition to pure electric vehicles is seen as the long-term trend in Europe, with plug-in hybrids serving as a transitional solution [5].