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European buyers now prefer Chinese cars over American autos: Study
Yahoo Financeยท 2025-09-24 14:36
Core Insights - The US auto sector is experiencing reputational damage overseas due to President Trump's trade war, with a notable shift in European car buyers' preferences towards Chinese brands [1][2] - A study by Escalent indicates that 47% of European buyers would consider a vehicle from China, compared to 44% for US automakers, a reversal from 2024 when 31% considered Chinese vehicles and 51% considered American [1][2] Group 1: Buyer Sentiment and Trends - The study surveyed 1,692 respondents from May 21 to July 31, revealing that geopolitical factors are influencing European buyers' perceptions of US auto brands [2] - Trust levels in goods from various countries have increased for all except the US, which saw a decline from 31% to 24% [4] - European buyers are increasingly considering electric vehicles (EVs), which benefits Chinese brands that offer a wide range of EV options [5][7] Group 2: Sales Data and Market Performance - Tesla, the largest US EV maker, is facing demand issues in Europe, with EV registrations falling to 8,837 units in July, a 40.2% decrease year-over-year [8] - In contrast, total EV registrations in Europe rose by 33.6% in July, indicating a growing market for electric vehicles overall [8]