Chinese automotive imports -20%. Chinese invasion slowing down or Lunar New Year? | EUROtoday

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Invasion and or not invasion? Chinese exports of electrical autos to European Union international locations fell by virtually 20% within the first two months of the yr, in line with official information from Beijing Customs, whereas an investigation by the European Commission into state subsidies that may make Dragon firms extra aggressive.

In January and February, in line with information from the Chinese authorities, simply over 75,600 electrical autos have been shipped to the 27 EU member international locations, a lower of 19.6% in comparison with final yr. The Lunar New Year celebrations might have had an affect.

The current and fast will increase in imports by firms equivalent to BYD and MG Motors, owned by SAIC Motor, have triggered the alarm of Western automotive producers, led by Stellantis and Renault, who concern a wave of latest opponents with rather more aggressive costs in a tough second for the sector.

At the start of March the EU envisaged imposing increased duties (as much as 20-25%, as we speak they’re 10% in comparison with Beijing's 15-25%) on incoming Chinese electrical autos. Brussels' speculation is that the Beijing authorities is offering unlawful monetary help to its auto trade.

Returning to the potential causes for the decline, may it actually have been the cease to the financial system which coincides with the lengthy Lunar New Year, celebrated with lengthy holidays between 10 and 24 February? According to the Chinese Chamber of Commerce within the EU, the decline in exports within the first two months of this yr “transcends a mere statistical anomaly, shedding light on the complex challenges China faces internationally”.