Chinese share of French EV market slumps after incentives curbed

admin admin | 05-04 16:20

The three models' share of the market has since steadily declined to just 4% in April, a drop hailed by Finance Minister Bruno Le Maire as a sign the more restrictive eligibility rules are working.
Sales of the three most popular Chinese-made electric vehicles in France have collapsed since the government made them ineligible for cash purchased incentives, industry data analysed by Reuters shows.

A surge in imports of Chinese electric cars into Europe has triggered EU tariff threats, which are expected to be a bone of contention when President Emmanuel Macron hosts his Chinese counterpart for a state visit on Monday.

France, however, did not wait for a European Union decision on implementing tariffs, instead redesigning its cash bonus scheme in December to exclude the purchase of models made in China, which have rapidly gained market share.

In the months ahead of the move, the three most popular Chinese-made cars sold in France - the Dacia Spring (Renault ), Tesla's Model 3 and SAIC's MG4 - accounted for 22% of the market, according to Reuters calculations using data from the companies and industry body AAA Data.

Their share then surged to 32% in December ahead of the new eligibility rules that require vehicles to meet criteria covering how much carbon is emitted during the manufacturing process and transport to market, favouring vehicles made in Europe.

The three models' share of the market has since steadily declined to just 4% in April, a drop hailed by Finance Minister Bruno Le Maire as a sign the more restrictive eligibility rules are working.

The French government has been eager to give domestic carmakers time to come out with their own EV models and catch up with Chinese makers that moved early to build up huge production capacity.

Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.


ALSO READ

Hyundai Motor India lists with record IPO, commits to Indian market with new tech and EV plans

As part of its effort to introduce clean mobility solutions for Indian buyers, Hyundai will launch f...

auto | 5 hours ago

Skoda Auto Volkswagen India plants over 7 lakh trees in Maharashtra for ecological restoration

Additionally, SAVWIPL has installed 18.5 MWp of rooftop solar power at its Chakan facility, which of...

auto | 5 hours ago

Mega Corporation launches Lendingo to enhance EV financing solutions

Mega Corporation on Monday announced the launch of a new division, Lendingo. Mega Corporation on Mon...

auto | 5 hours ago

GreenLine accelerates decarbonisation efforts with 1,000 LNG trucks by March 2025

The government in a recent draft policy proposed to convert a third of long-haul trucks into LNG pow...

auto | 5 hours ago

Remsons Industries acquires 51% stake in BEE Lighting to enhance automotive lighting solutions

Established in 2006, BEE Lighting specialises in automotive headlamps, rear lamps, and various exter...

auto | 5 hours ago

EV Recharge partners with ZEVO for mobile EV charging solutions

EV Recharge’s technology can charge vehicles from 0% to 80% in just 20 minutes, a significant improv...

auto | 5 hours ago