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In
the European Union MG Motor, owned by China's SAIC Motor Corp,
expects to be hit hardest by provisional tariffs imposed on EVs
imported from China, Rho Motion data manager Charles Lester told
Reuters.
The impact of the tariffs should be smaller on Tesla, which can
produce in its Berlin factory, and Chinese EV giant BYD, whose
presence in Europe remains small, Lester said.
BY THE NUMBERS
EVs - whether fully electric (BEV) or plug-in hybrids (PHEV) -
sold worldwide were at 1.35 million in July, of which 0.88
million were in China, where they were up 31% year-on-year, the
data showed.
PHEVs sold in China in the first seven months of 2024 were up
70% from last year.
BYD, China's and the world's biggest EV maker, reported in the
same period increases of 13% and 44% in its global BEV and PHEV
sales, respectively.
In Europe, monthly sales were down 7.8% in July, to year-to-date
figures in line with 2023. In the seven months to July, they
dropped by 12% in Germany, the EU's biggest EV market.
In the United States and Canada, EV sales were up 7.1% in July.
KEY QUOTES
"BYD continued to have record sales of plug-in hybrids again
this month, which is a key contributor as they have a large
volume of vehicles that they sell", Lester told Reuters.
Range extender vehicles, battery-powered hybrid cars that
recharge with an on-board generator, are also selling in large
numbers, Lester said.
CONTEXT
The European Union imposed in July provisional tariffs on
imports of electric cars made in China. BYD faces duties of
17.4%, Geely 19.9% and SAIC 37.6%, the EU said.
(Reporting by Alessandro Parodi; editing by Jonathan Oatis)
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