Starting in the 1980s, European automakers steadily conquered China, racking up millions in sales with little local competition. Now they'll have to defend ...
LONDON - Starting in the 1980s, Europe an automakers steadily conquered China , racking up millions in sales with little local competition.
Chinese carmakers are now deploying a range of tactics to break into the market, ranging from sponsoring high-profile sporting events to raise awareness of their brands, to building out their dealership networks, and shoring up service-and-repair operations to protect resale values – a key requirement of fleet buyers who make up a large share of the European market.
By comparison, Tesla has just two volume-sellers - the mid-priced models 3 and Y. Both are overdue for a redesign and declining in global and European sales. In China, the explosion of EV brands has ignited a price war, with automakers led by BYD selling a slew of EVs priced between $10,000 and $30,000. Those rock-bottom prices have alarmed automakers and their political allies in the United States and Europe. In May, U.S. President Joe Biden quadrupled tariffs on Chinese EVs to 100%. The European Union is currently investigating China subsidies and may soon raise tariffs on its cars.
Leasing companies charge lower monthly payments for cars with high resale value because they're worth more at the end of the lease term, when buyers can choose to either buy them or return them to the leasing firm. "Our network allows them to reach clients quickly," said chairman Plinio Vanini. "This was key for BYD." GWM and Chery are partnering with existing dealerships that also sell other established brands. Chery's European managing director Jochen Tueting said the automaker, for its Omoda vehicles, chose such shared locations "so people say: 'While I'm here, I'll take a look.
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