Chinese automaker BYD has reported that the UK has become its largest market outside of China, with a significant sales increase of 880% in September compared to the same month last year. The company sold 11,271 vehicles in the UK during September, with the plug-in hybrid version of its Seal U SUV being the primary contributor to these sales.
This sales surge aligns with data from the Society of Motor Manufacturers and Traders (SMMT), which indicated that electric vehicle (EV) sales in the UK reached a record high last month. The attraction of the UK market for companies like BYD is enhanced by the absence of tariffs on Chinese electric vehicles, a contrast to the higher tariffs imposed by the European Union and the United States.
In September, BYD’s market share in the UK increased to 3.6%. The company’s UK manager, Bono Ge, mentioned plans to introduce additional hybrid and electric models in the coming months and noted the brand’s expanding presence with the opening of its 100th retail outlet.
The overall UK electric vehicle market saw nearly 73,000 pure battery electric vehicles sold in September, with sales of plug-in hybrids increasing at an even faster rate. Popular models for the month included the Kia Sportage, Ford Puma, and Nissan Qashqai, alongside Chinese vehicles such as the Jaecoo 7 and BYD Seal U, which featured in the top 10 best-selling cars.
Despite the growth in EV sales, petrol and diesel vehicles still accounted for more than half of the new car sales in the UK last month. It is also noteworthy that last October, the EU announced plans to impose tariffs of up to 45% on imports of Chinese EVs to protect European manufacturers, a move driven by concerns over alleged unfair subsidies provided to Chinese car makers. Additionally, high tariffs in the US have effectively limited market access for companies like BYD.
Source: https://www.bbc.com/news/articles/c3w5jl2jgqwo?at_medium=RSS&at_campaign=rss