Chinese carmakers double share of UK market in March

{"text":[[{"start":8.23,"text":"Chinese carmakers doubled their share of new UK car sales in March compared with a year earlier, according to new data, as analysts say they are poised to benefit from a surge in interest in electric vehicles following the outbreak of the Iran war."}],[{"start":25.76,"text":"Fifteen per cent of the 380,000 cars registered in the UK last month were Chinese brands, up from 7.4 per cent in March 2025, according to figures released this week by the Society of Motor Manufacturers and Traders (SMMT)."}],[{"start":44.650000000000006,"text":"“The rate of growth is beyond anything we’ve ever seen in the [UK],” said Ian Plummer, chief customer officer at online car marketplace Autotrader."}],[{"start":55.28000000000001,"text":"Chinese automakers have wrestled market share from established rivals in the UK in recent years with affordable, high-specification vehicles. They have focused more attention on the UK since the EU imposed higher tariffs on Chinese-built EVs."}],[{"start":72.18,"text":"If established western brands such as Volvo Cars and Lotus, which are now owned by Chinese companies, are included, the share of UK sales held by Chinese brands rises to a fifth."}],[{"start":85.82000000000001,"text":"The growth in Chinese carmakers’ sales has been driven by the likes of Chery, which owns the Jaecoo and Omoda brands as well as its namesake marque, and BYD. Together the two groups accounted for 10 per cent of new car sales in March, up from 3 per cent over the same period last year."}],[{"start":106.51,"text":"While Chinese brands are best known for their fully electric vehicles, some of their success has been in selling plug-in hybrids, said Plummer, giving the example of Jaecoo, which in the UK sells several petrol models and plug-in hybrids alongside its EVs."}],[{"start":null,"text":"

"}],[{"start":123.36000000000001,"text":"EV sales rose by a quarter to reach a new high of 86,000 in March, typically one of the busiest months of the year for car registrations, according to the SMMT. But their share of the car market stood at 22.6 per cent, well below the UK government’s sales target of 33 per cent."}],[{"start":143.5,"text":"The government aims to phase out diesel and petrol vehicles by 2030. It has mandated that a certain percentage of each carmaker’s annual sales are zero-emission vehicles, with the figure rising from 33 per cent this year to 80 per cent in 2030. In April last year it watered down some of those targets by lowering punitive fines and plans to review the targets this year."}],[{"start":null,"text":""}],[{"start":171.4,"text":"Fuel prices in the UK have risen to their highest levels in several years, with diesel reaching over 177p at the end of last month, up from 141p before the outbreak of war, according to the RAC motoring association."}],[{"start":188.54000000000002,"text":"However, prices remain below their 2022 peak after Russia’s invasion of Ukraine."}],[{"start":195.12000000000003,"text":"“Any brand that has a strong electric or electrified offering, which certainly includes the new Chinese entrant brands, will be well-positioned to capitalise on the recent spike in electric interest caused by the war in Iran pushing fuel prices up,” said Plummer."}],[{"start":219.83000000000004,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1775801129_2236.mp3"}