BARCELONA, Spain, March 31 (Xinhua) — Chinese automotive manufacturers are gaining a robust foothold within the Spanish market, with exports to Spain 20 instances greater in 2022.
Figures printed this month by the Spanish affiliation of car producers (ANFAC) present that Chinese autos value 1.39 billion euros (1.51 billion U.S. {dollars}) had been bought in Spain in 2022, up from 68 million euros a yr earlier than.
This large rise in gross sales means China changed the United Kingdom because the fourth-largest exporter of vehicles to Spain, behind Germany, France and the Czech Republic.
One purpose for the rise is that in contrast to European producers, Chinese automotive makers are usually not struggling to regain competitiveness after the pandemic, stated the Federation of Automotive Dealers Associations (Faconauto).
“Chinese brands are managing to take advantage of the gaps in the European market, in this case in Spain, and they are creating a customer base that feels somewhat overlooked by other international brands,” Raul Morales, director of communications at Faconauto, informed Xinhua.
“Chinese technology is a step ahead of the technology in the rest of the world, and they are also offering a good product, and at a price that is competitive compared to other manufacturers,” Morales added.
Brands like MG, Lynk and Co, Aiways and Maxus have all seen gross sales in Spain go up. MG bought 6,901 autos final yr in Spain, an 825 p.c rise in gross sales, and ANFAC says that the market share of Chinese vehicles now represents 7.3 p.c of automotive imports.
“In the next few years we can expect the market share of Chinese brands to rise significantly, not only in the Spanish market but also in the European market. This has happened in other markets such as South America, where right now Chinese brands predominate,” stated Morales.
China was not the one Asian nation that elevated its presence within the Spanish market final yr, with Japanese automotive gross sales going up by 23 p.c, whereas South Korean producers bought 28 p.c extra autos.
The growth in gross sales of Asian vehicles is among the most important the explanation why complete automotive exports to Spain went up by 22.8 p.c in 2022, based on ANFAC.
Now that Chinese producers have established a presence in Spain, Morales stated, the following step is to consolidate: “Chinese brands are making increasingly competitive products. They have overcome some early problems, above all related to vehicle safety, which has now been standardized. Now they have to position themselves as established brands in Europe and Spain.” (1 euro = 1.08 U.S. dollar)