Chinese Automakers Face Tariffs as Dacia Dominates European Market

Chinese electric vehicle (EV) manufacturers are facing⁢ critically important challenges in the European market, as new tariffs have led to an eight-month low in their market share. The recent ⁤imposition of tariffs, which can‌ increase import costs by up to 35%, has resulted in a decline in registrations for brands ⁢like BYD and MG, dropping from 8.2% to 7.4%⁤ in⁣ just one month.This shift has allowed European automakers, particularly Dacia, to gain a stronger foothold in the competitive landscape. Despite thes hurdles, Chinese companies continue to play a ‍crucial role in the global automotive sector, adapting to the evolving market dynamics in Europe and beyond [2[2[2[2]