日经中文网·2025-09-11 03:09Core Viewpoint - Chinese automotive sales in Europe have surged, with a 1.9-fold increase in July, reaching 59,363 units, despite impending high tariffs on electric vehicles (EVs) from the EU in October 2024 [2][5]. Group 1: BYD's European Strategy - BYD plans to establish over 1,000 stores across 32 European countries by the end of 2025, aiming to double this number to 2,000 by 2026 [4]. - BYD's sales in Europe for the first half of 2025 are projected to reach 70,500 units, a 3.1-fold increase compared to the same period last year [4]. Group 2: Overall Chinese Automotive Performance - In July, the overall sales of Chinese automobiles in Europe increased by 1.9 times year-on-year, with 116 Chinese automotive and parts suppliers participating in the Munich International Motor Show, a 1.5-fold increase from two years ago [5][7]. - The share of plug-in hybrid vehicles (PHVs) in total sales reached a record high of 9.7% in July, driven by a shift in export focus to vehicles not subject to the new tariffs [7]. Group 3: EU Tariff Impact and Market Dynamics - The EU plans to impose an additional tariff of up to 35.3% on Chinese pure electric vehicles starting October 2024, on top of the existing 10% tariff, with BYD facing a 27% tariff [7]. - Despite these tariffs, Chinese automotive sales continue to grow, attributed to the increased export of PHVs [7]. Group 4: Global Market Position - China's automotive exports surpassed those of the U.S. in 2021, Germany in 2022, and Japan in 2023, with projections to reach 6.7 million units by 2025, double that of Germany [8]. Group 5: EU Regulatory Challenges - The EU's stringent regulations aimed at promoting electric vehicles have led to excessive investments by European automakers, negatively impacting their performance and benefiting Chinese EV manufacturers and Tesla [10]. - Concerns over potential subsidies for BYD's electric vehicle factory in Hungary have prompted the EU to initiate an investigation [10].