Europe is becoming a glaring case study in how globalist leaders can destroy an entire automotive manufacturing base by flooding the continent with cheap Chinese cars and sending domestic automakers spiraling into crisis, while their policies simultaneously spark what Nomura analysts have said will be political blowback over an 18-month election cycle, with shifts toward the right already visible in recent German elections.
Bloomberg News cites new data from Dataforce showing that Chinese automakers captured a record share of Europe's car market in August by flooding the continent with cheap hybrids that undercut domestic brands.
Chinese brands, including BYD, accounted for nearly 12% of European new-car sales that month, according to Dataforce. The largest surge in sales came from hybrids: one in four sales overall and roughly one in three plug-in hybrids.
Chinese hybrids avoid the additional EU duties imposed on imported EVs, giving BYD a competitive advantage on an energy-stricken continent.
EV and hybrid sales jumped 27% in August, offsetting declines in combustion-only cars and lifting the overall market by 4.6%.
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