Report: Chinese EVs Account For 76% Of Global EV Sales

If it isn’t obvious enough, Chinese auto brands are leading the charge in the global electric vehicle (EV) market space. What’s surprising is that this comes even though there are no Chinese EVs on sale in North America – the world’s second largest and arguably the most lucrative car market.

How are Chinese EV brands pulling this off? Simple – by simply concentrating on just about every other major region instead. In fact, data from a recent analysis conducted by research firm Rho Motion has revealed staggering figures and statistics for which.

Source: Rho Motion.

According to the firm, Chinese brands now command a staggering 76% share of the global EV and plug-in hybrid (PHEV) market, and this has resulted also form their aggressive expansions into new territories.

Overall, Chinese brands are seeing their market shares vary by country across Europe, but they’ve made particularly strong gains in less developed markets around the world.

Chinese auto brands now account for a staggering 76% of the world's EV and PHEV sales.

Chinese brands account for 4% of the 578,000 EVs sold last year in Germany – Europe’s largest car market. Slightly higher figures were recorded in UK and France where Chinese brands account for 7% and 5% of total EV sales respectively. 

Elsewhere in the Old Continent, specifically in the Netherlands, Sweden, Norway, and Belgium, Chinese EVs have accounted for 6%, 5%, 8%, and 3% of the market. Chinese brands also hold greater presence in Spain and Austria, accounting for 10% and 11% of total EV sales respectively.

No doubt, Chinese auto brands are experiencing remarkable growth in a slew of emerging markets elsewhere around the world. Examples include Brazil and Mexico where 82% and 70% of all EVs and PHEVs sold in each respective market were from Chinese makes.

Rho Motion estimates that Chinese marques account for 52% of the local Malaysian EV and PHEV market space.

Closer to home, Rho Motion estimates that Chinese-made EVs and PHEVs account for 52% of the market here in Malaysia. They hold higher 77% and 75% shares in neighbouring Thailand and Indonesia respectively instead.

Putting aside exceptions like Malaysia and Thailand, Rho Motion reckons that much of the success charted by Chinese brands with their EVs and PHEVs in emerging markets as detailed stems from the lack of a strong local car industry.

Rho Motion reckons that Chinese government subsidies and aid amounting to at least RM1.026 trillion) have accelerated Chinese auto marque sales.

Additionally, China’s EV industry has also benefitted from government subsidies and aid that amount to at least US$231 billion (RM1.026 trillion) issued from 2009 through the end of 2023, says Rho Motion based on their estimates.

In turn, this have granted many Chinese EVs and PHEVs with a huge advantage in their low sale prices versus traditional (read: legacy) automakers. This is also a key reasoning behind the tariffs levied recently on them in select market regions like Europe.