BYD and Omoda sell more than Fiat

The car manufacturers Chinese are gaining ground in the UK marketsurpassing brands consolidated as Fiat in October 2024 sales. According to data from the industry association SMMT, Omoda has registered 870 vehicles, BYD 780 and Fiat 779with a drop of 27% for the Italian brand in an overall market down by 4.8%.

This scenario is the result of two key factors: the absence of tariffs on Chinese electric cars in the UK, which makes prices more competitive, and the country’s electric transition policy. The British government has required carmakers to achieve a 22% share of electric car sales this yearprompting manufacturers to offer significant discounts to hit the mark.

Chinese brands they represented 4.8% of the UK market in October. MG Motor drove sales with 5,303 unitsdespite a decline of 13% compared to the previous year. BYD recorded impressive growth in 326%expanding its range with plug-in hybrid models.

Omoda, a newcomer to the British market since August, already has a network of 64 dealers. The Omoda 5, available in petrol and electric versions, starts at a price of £25,235significantly lower than that of competitors such as the Nissan Qashqai.

As Chinese brands advance, some traditional producers face difficulties. Stellantis saw a significant drop in Opel sales (-46%), while Peugeot recorded growth of 4.4%reaching 7,421 units sold.

The British car market – like that of the whole of Europe – is in a transition phasewith the government’s goal of increasing the share of electric vehicles pushing manufacturers to adapt quickly. Competition from Chinese brandswith their offering of electric models at competitive prices, is accelerating this change and challenging established players.

China has now become a reference for innovation capacity in the automotive sector, especially in the field of electric vehicles. Chinese car manufacturers have been investing massively for at least 20 years in research and developmentwith a particular focus on electric vehicles.

The expansion of Chinese automakers in markets like the UK it represents a new phase in their evolution. This growth is facilitated by their expertise in electric vehicles, a sector in which China has become a world leader. In 2022, China produced more than half of the electric vehicles sold globallya testament to its dominance in this rapidly growing industry.