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Volkswagen:Competition From China EVs: Difference between revisions
Volkswagen:Competition From China EVs (view source)
Revision as of 11:02, 30 August 2024
, 30 August 2024→What are the challenges facing Chinese EV expansion in Europe?
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=== Poor Brand Awareness === | === Poor Brand Awareness === | ||
* Brand awareness has been another challenge for Chinese EV makers wanting to expand in Europe. A 2022 survey by YouGov established that only 14% of the 1,429 German consumers had heard of BYD while 95% knew Tesla<ref>https://www.reuters.com/business/autos-transportation/chinas-ev-makers-face-cost-consumer-challenges-conquer-europe-2023-08-18/</ref>. This means that they have had to increase spending on sales and marketing. For instance, in July 2024, BYD signed a deal to incorporate 100,000 of its EVs in Uber platform. It was also one of the biggest sponsors of the Euro 2024<ref>https://www.business-standard.com/world-news/byd-eyes-50-overseas-sales-after-it-posts-strong-first-half-results-124082801021_1.html</ref>.<br /> | * Brand awareness has been another challenge for Chinese EV makers wanting to expand in Europe. A 2022 survey by YouGov established that only 14% of the 1,429 German consumers had heard of BYD while 95% knew Tesla<ref>https://www.reuters.com/business/autos-transportation/chinas-ev-makers-face-cost-consumer-challenges-conquer-europe-2023-08-18/</ref>. This means that they have had to increase spending on sales and marketing. For instance, in July 2024, BYD signed a deal to incorporate 100,000 of its EVs in Uber platform. It was also one of the biggest sponsors of the Euro 2024<ref>https://www.business-standard.com/world-news/byd-eyes-50-overseas-sales-after-it-posts-strong-first-half-results-124082801021_1.html</ref>. | ||
=== Lack of sell networks === | |||
* According to reports, several Chinese EVs are stuck in European ports due to lack of sell networks and trucks to transport them to dealerships. According to someone familiar with the matter, most trucks have been reserved for the likes of Trucks. The Financial Times reported in April 2024 that some Chinese EVs were staying in the ports for more than 18 months<ref>https://www.ft.com/content/496f3bfa-9f0c-4145-9024-188572a280fd</ref>. In March 2024, BYD Europe CEO Michael Shu confirmed to Automotive News Europe that sales channels in Europe are complex. "We need to increase our sales, which will take time because we have to properly understand how to leverage the different sale channels. There are channels for private buyers, fleets, leasing companies and rental car firms to take into consideration. It is a very complex fusion," he said.<br /> | |||
== References == | == References == | ||