Chinese Car Brands Conquer Spain: Sales Double, Market Share Over 10%
Chinese car brands are rapidly expanding their presence in the Spanish market. As of 2024, the market share of Chinese brands in Spain has exceeded 10%, and this figure continues to rise. This growth is observed in both gasoline and electric vehicle segments.
MG and Chery Lead the Charge
MG Motor, a subsidiary of China’s SAIC Motor, is one of the standout brands in Spanish sales. The MG ZS model, in particular, was the best-selling Chinese-made model in Spain in July 2024, achieving a significant market share of 8.69%. The brand’s electric model, MG4, also recorded successful sales figures in its segment.
Chery Automobile, another major Chinese manufacturer, is also rapidly establishing itself in the Spanish market. Chery’s Omada 5 model quickly became one of the best-selling Chinese cars shortly after its market entry. Chery’s decision to establish its first European production facility in Barcelona, Spain, further demonstrates the brand’s commitment to the Spanish and broader European markets. This factory will produce vehicles in Nissan’s former plant, recovering some of the 1,600 jobs.
Competitive Pricing and Focus on Electric Vehicles
The success of Chinese car brands in Spain is largely attributed to their competitive pricing strategies and significant investment in electric vehicles. Offering more affordable and technologically advanced models to European consumers has been instrumental in increasing their market share.
However, factors such as tariffs of up to 45% imposed by the European Union on imported Chinese electric vehicles might lead Chinese manufacturers to re-evaluate their European production plans and sales strategies. Despite this, brands like BYD and Chery’s plans to build factories in Hungary and Spain indicate their intention to establish a permanent presence in the European market.
While overall car sales in Spain are increasing, the share of Chinese brands in this growth is seen as a harbinger of a new era in the European automotive market.
